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$ 1,100,000
Est. payment | /mo
5 Beds
5 Baths
$ 1,100,000
Est. payment | /mo
5 Beds
5 Baths
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID GD25119999
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
Located at 529 Raleigh Street in Glendale, California, this five-unit multifamily offering consists of a detached 2-bedroom/1-bath front house, three 1-bedroom/1-bath units, and a studio unit at the rear of the property. The total building size is approximately 2,788 square feet, situated on a 6,982 square foot lot. The front house is roughly 900 square feet, with the remaining units ranging from 300 to 500 square feet each. The property features a shared courtyard between the front and rear buildings, offering an open-air communal area. While there is a driveway with space that could accommodate parking, current tenant use of the space as outdoor living area presents options for a future reconfiguration to enhance on-site amenities or create dedicated tenant parking. Originally built in 1922, the property retains much of its original character and would benefit from thoughtful upgrades. The property presents a strong value-add opportunity for investors looking to enhance both rents and asset quality through renovation and systems upgrades. With current gross annual income at just $63,000, there is substantial rental upside once improvements are made. Located in the heart of Glendale, the property boasts excellent walkability to retail, restaurants, and other neighborhood amenities. Its central location within one of Los Angeles Countys most desirable rental markets makes this offering particularly appealing to both seasoned investors and those looking to break into the Glendale multifamily market. 529 Raleigh Street represents a rare opportunity to acquire a true value-add
Location
State CA
County Los Angeles
Zoning Public Rec
Direction 529 Raleigh Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5675015002
Listed by Krikor Garabedian Keller Williams R. E. Services
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Lili Patch
REALTOR® | Lic# DRE 02003440