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530 Palm Drive, Glendale, CA 91202

$6,405,000

  • Sold
  • Closed
  • Multi-Family
530 Palm Drive, Glendale, CA 91202View this property at 530 Palm Drive, Glendale, CA 91202
530 Palm DriveGlendaleCA91202
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Property Description
We are pleased to introduce to you this rare opportunity to own 16 units in non- rent controlled Glendale, California. The Palm Glen apartments are a very well maintained asset boasting an extensive list of capital improvements over the years including upgrades to interior units. Detailed upgrades list in offering memorandum. Built in 1985, the assets incorporates central AC, subterranean parking and intercom/gated access. Offered already at in place CAP rate of 3.63% the asset also has 15% + loss to lease to further improve the NOI. Glendale has historically low vacancy factor and his in a supply constrained state of mid-sized assets. Situated North of Glenoaks Blvd, Palm Glen is in prime location of town. Walking distance to
Elementary, Middle and High Schools. Tenants are within a couple minutes to Downtown Glendale shops and services. With the excellent location, condition and superb fundamentals, The Palm Glen Apartments offer stabilized asset and appealing long term investment opportunity. Contact us for complete Offering Memorandum.

Full Property Details for 530 Palm Drive

General

  • Sold For: $6,405,000
  • Status: Closed
  • Type: Multi-Family
  • MLS ID: SR17234588
  • Added: 282 day(s) ago

Rooms

Other Rooms

  • Laundry: Community

Additional Information

  • Pool Description: None

Parking

  • Parking Features: Assigned
  • Parking: Assigned

Location

  • Area: 626 - Glendale-Northwest
  • County: Los Angeles
  • Development Name: 626 - Glendale-Northwest
  • Driving Directions: North of Glenoaks Blvd, West of Pacific Ave, South of Kenneth Rd

Utilities

  • Water: Public
  • # Water Meters: 1
  • # Gas Meters: 17
  • # Electric Meters: 17

Structural Information

  • Stories/Levels: Two
  • Stories Description: Two
  • Square Feet: 13,586
  • Year Built: 1985

Unit Information

Unit 1

  • Number of Units: 8
  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Number of Units: 7
  • Total Bathrooms: 2
  • Bedrooms: 2

Unit 3

  • Number of Units: 1
  • Total Bathrooms: 2
  • Bedrooms: 3

Lot Features

  • Lot Size Source: Assessor
  • Zoning: GLR4*
  • Lot Description: 16-20 Units/Acre

Financial Considerations

  • Price Per Sq. Ft.: $471.44

Listed by Keller Williams World Media Ce, Levon Alexanian

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Your Property Information

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Schools

Schools serving 530 Palm Drive

Score
Name
Grades
Distance
6
1844 Bel Aire Dr, Glendale, CA 91201
K-6
1.7 mi
7
700 Glenwood Rd, Glendale, CA 91202
6-8
0.4 mi
6
651 Glenwood Road, Glendale, CA 91202
9-12
0.4 mi
Disclaimer: School ratings provided by GreatSchools. Ratings are on a scale of 1-10. Learn more about GreatSchools ratings. School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History

Price & Sales History for 530 Palm Drive

Date
Details
Price
Change
Source
2/28/2018
Sold
$6,405,000
-4.4%
MLS
10/12/2017
Listed
$6,700,000
MLS
Disclaimer: Historical sales and tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Community Info

Community Info for 530 Palm Drive

Listed by Keller Williams World Media Ce, Levon Alexanian

530 Palm Drive, Glendale, CA 91202 (MLS# SR17234588) is a Multi-Family property that was sold at $6,405,000 on February 28, 2018. Want to learn more about 530 Palm Drive? Do you have questions about finding other Multi-Family real estate for sale in Glen-Northwest? You can browse all Glen-Northwest real estate or contact a Coldwell Banker agent to request more information.