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$ 5,200,000
Est. payment /mo
Active
629 E Elk Avenue Glendale, CA 91205
10,700 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,700 sqft
Price per Sqft $485
MLS Listing ID CL25527929
HOA Y/N No
Year Built 1986
Lot Size 0.311 Acres
Acres 0.31
Property Sub-Type Other
Property Description
Built in 1986 and well-maintained, 629 E Elk offers immediate curb appeal, solid in-place income, and future upside through already-initiated ADU conversion plans. Just minutes from The Americana at Brand, Glendale Galleria, and the Fashion Center, the property sits blocks from the cafes, restaurants, and office hubs that line Brand Boulevard. Its central location draws from a large pool of high-income renters employed at nearby law firms, financial institutions, entertainment companies, and major film studios. The building is comprised of (8) 2-bdrm. and (6) 1-bdrm. units, averaging approximately 750 SF. 10 of the 14 units have been renovated with wood-laminate flooring, quartz countertops, stainless steel appliances, upgraded tilework, and select units feature new mini-split A/C systems. A major value driver is the opportunity to convert three 30'x10' storage units into (2) 2-bedroom ADUs, plans for which are already in progress with the City of Glendale. The projected monthly rent from the ADUs is $4,990. Property amenities include 21 side-by-side parking spaces and a modern coinless laundry facility. Please note, Glendale currently allows for annual rent increases of 8.8%, making this one of the most landlord-friendly submarkets in LA County. The property also includes assuma
Location
State CA
County Los Angeles
Zoning GLR4
Interior
Heating Wall Furnace
Flooring Tile
Fireplace No
Laundry Common Area
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5674025037
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Listed by Kenny Stevens • Compass