615 S Columbus Avenue, Glendale, CA 91204
-
Listed Price :
$6,400,000
-
Beds :
12
-
Baths :
13
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Property Size :
8,620 sqft
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Year Built :
1923
Property Description
Glendale Court Bungalows, located at 615 S. Columbus Avenue, is a beautifully restored 13-unit California bungalow-style courtyard property, just five blocks from the Glendale Americana. The current owner has invested over $700,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior features. The property consists of 12 one-bedroom/one-bath units and one studio, all of which have been meticulously renovated to meet the strong tenant demand in the area. A Ratio Utility Billing System (RUBS) has been implemented across all units, boosting operational efficiency and ensuring a sub-30% expense ratio for future ownership. The property also offers eight garages and five surface parking spaces, currently generating income. The garages present a potential opportunity for conversion into three ADUs (Accessory Dwelling Units), which could generate an estimated $34,605 in additional annual rental income. With further investment in ADU construction and adjustments to market rents, a new owner could achieve an impressive return on cost of nearly 270%. ***Assumable financing is available at 5.18%, with 5 years of fixed financing, including 2 years of interest-only payments remaining.***
Interior Features
| Bedroom Information |
| Bedrooms |
12 |
| Bathroom Information |
| Bathrooms |
13 |
| Interior Information |
| Cooling Type |
Electric |
Listing Information
| Address |
615 S Columbus Avenue |
| City |
Glendale |
| State |
CA |
| Zip |
91204 |
| County |
Los Angeles |
| Listing Agent |
Douglas Steinriede DRE #00284936 |
| Courtesy Of |
Dover Management Corp. |
| List Price |
$6,400,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
8,620 |
| Lot Size |
18,596 |
| Year Built |
1923 |
Listing information courtesy of: Douglas Steinriede, Dover Management Corp.. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 23rd, 2025 at 8:03 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
