823 Highland Avenue

We are pleased to present the opportunity to purchase a 16-unit two-story multi-family site in the desirable community of Pelanconi in Glendale, CA. The property is non-rent controlled and features one-bedroom units consisting of approximately 8,494 of net rentable squarefeet on 15,893 square feet of land. The… charming garden style building is well located within a mostly single-family home residential neighborhood. Because of the lack of smaller rentals these one-bedrooms are higly sought after and rarely have vacancy. Local public schools are higly rated makingthis community a draw for familes as well. It's central location allows for an easy commute to many strong employment hubs within the film industry,industrial sector as well as Downtown Los Angeles.Originally built in 1948, the property has undergone light renovations over the years supporting it's retro charm. Many units have original hardwood floors,clean art-deco tiled bathrooms and kitchens while units that have been renovated have been replaced with luxury vinyl plank flooring. These thoughtful renovations create a perfect balance of both modern and retro appointments and is positioned quite well for additional improvements to be made as tenants roll-over. The large parking area in the rear of the building supports an opportunity for a major renovation by providing additional units and/or improvements for existing units. Glendale is a well established city in Los Angeles County for its strong demographics, Diversity and close proximity to Burbank and Los Angeles while offering a more niche community feel. Read More