Glendale, CA 91204,350 Vine ST
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Glendale, CA 91204,350 Vine ST
Glendale, CA 91204,350 Vine ST
Glendale, CA 91204,350 Vine ST
Glendale, CA 91204,350 Vine ST

$1,370,000

Est. payment /mo

$1,199,000

14.3%
Est.Price: ?

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350 Vine ST Glendale, CA 91204

4,645 SqFt

SOLD DATE : 09/06/2024

Key Details

Sold Price $1,370,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Square Footage 4,645 sqft

Price per Sqft $294

MLS Listing ID P1-18302

Sold Date 09/06/24

HOA Y/N No

Year Built 1965

Lot Size 6,416 Sqft

Property Description

Value Add 5 unit apartment building located in the heart of Glendale in close proximity to the Galleria and Americana. This is a trust sale and the property is being sold in its as-is condition with long term tenants in place and has been priced accordingly. Current rents are approximately 35% of market rents. Drive by only. Do not enter the property or disturb the tenants. Make all offers subject to inspection.The property has significant upside for a buyer with the experience to manage and renovate the property.There are four 2 bedroom 1.5 bath units and one 1 bedroom 1 bath unit. Market rents after renovation are estimated at $2,750/ month each for the 2 bedroom units and $1,750/ month for the one bedroom unit and the stabilized value could be in the range of $2,000,000 which is approximately $400,000/unit and $430/SF using a gross income multiplier of 13. Buyer is advised to conduct their own due diligence with regard to future market rents and value. Buyer should familiarize themselves with State of California AB 1482 and the City of Glendale Rental Rights Program and other laws related to rental increases and relocation assistance. Roll up your sleeves, get to work and create value.

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLR4YY

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace Yes

Exterior

Garage On Site, One Space

Carport Spaces 5

Fence None

Pool None

Community Features Curbs, Gutter(s), Street Lights

View Y/N No

View None

Parking Type On Site, One Space

Total Parking Spaces 5

Private Pool No

Building

Lot Description Sprinklers None

Faces Northeast

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

Others

Senior Community No

Tax ID 5696011011

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Financing Cash

Special Listing Condition Trust

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California Regional MLS (CRMLS)
Listed by Donald Hinton • Engel & Voelkers La Canada
Bought with Jack Baboudjian • Baboudjian Properties Inc.

Chuck Lamm

Broker Associate | License ID: 00857151

+1(818) 652-2876

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