2520 Montrose Ave Montrose, CA 91020

2520 Montrose Ave, Montrose, CA 91020 - Rare Value-Add Multifamily with Assumable Low-Rate Financing Exceptional investment opportunity in tightly held Montrose. Charming 1947 3-structure property on a large 10,303 sq ft lot (LCR3 zoning, APN 5807-016-046) offers timeless architecture, strong income, and major upside. Blocks from Honolulu Ave shops/dining. ~5,502 sq ft (buyer verify), 11 units (mostly 1BD/1BA + 2BD owner's w/ patio/garage). 8 parking, master metered. No rent control. Proven Income + Huge Upside: Current 2026 rent roll: $17,177/mo ($206,124 annually). Vacant gutted basement projected at $2,000/mo ? Stabilized Gross: ~$230,124/year. GRM at $2,595,000 list: ~11.28 (excellent for value-add). Game-Changing Financing: Huge opportunity to assume existing loan at 3.64% (through November 2028). Creates significant positive cash flow from day one while executing value-add and ADU conversions-locking in low-cost capital in today's rate environment. Massive Growth Potential: ADUs: Up to 3 additional units via conversions of existing space (basement + subdivided areas) per CA/LA County rules. Large lot supports future condo development/density. Upgrade units for market rents + legalize non-conforming for transformative returns. Units lease fast here. Premier Location & Schools: Top-rated Glendale Unified (Crescenta Valley HS A+, excellent elementaries). Perfect for families/long-term tenants. Amazing Opportunity at $2,595,000: Immediate cash flow via assumable low-rate loan, rapid leasing, beautiful architecture, and layered upside rarely found in Montrose. Buyer verify all. Contact for tour, rent roll, pro forma, loan assumption details & ADU plan. Move fast-this won't last!