363 West LOMITA Avenue

We are pleased to present 363 W. Lomita Ave for sale in the heart of Glendale. The property is located on the corner of Columbus and Lomita Avenues and features a triplex with three separate freestanding units with no attached walls. Built in 1922, the three units are comprised of a 3 Bedroom + 2 Bathroom house and… two 1 Bedroom + 1 Bathroom units. The total improvements are +/- 2,877 square feet on a +/- 8,867 square foot lot. 363 W. Lomita is perfect for an owner-user who wants to live in the main house, or an investor looking for passive income. The main house will be delivered vacant at the close of escrow. The layouts of the units are very efficient and offer the feel of a single-family home, not an apartment building. Each unit has a private single car garage & driveway, in-unit washer & dryer, and the main house has a private backyard. Second bathroom in the 3 bedroom unit may have been done without permits. The 430 Columbus (1 Bedroom + 1 Bath) is paying $1800 per month and 432 Columbus is paying $1500 per month in rent. The rents on the two occupied units have not been raised since 2019 allowing a new owner to immediately raise rents by 5% + 3.6% (CPI 2021) for a total 8.6% - per the City of Glendale. In addition, rents can be raised thereafter per the State and City guidelines. Buyer to confirm with City that these % are accurate. This is an amazing opportunity for an owner-user or investor who wants to own an A+ Glendale location. Rarely do multi-family properties come available for sale in this location! 363 W Lomita is located within a five-minute walk to the Americana at Brand. This modern complex has transformed the landscape of Glendale and offers shopping, restaurants and a movie theatre. In addition, other retailers and stores are nearby along Brand Blvd and Central Avenue. Read More