Description
Containing exclusively two-bedroom units, the property provides a new owner the chance to dramatically improve cash flow as current rents are approximately 62% below market level. In-place rents average only $1.66 per square foot, while similar apartments in the area are achieving $2.60-$2.79 per square foot. The property sits approximately one mile from both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria. Situated near the intersection of Central Avenue and San Fernando Road, tenants enjoy convenient access to Griffith Park, Los Feliz, the Greek Theatre, and the Los Angeles Zoo. The soon-to-be-completed multi-million dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is only one mile from the building.
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16BEDS
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0.2ACRES
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0BATHS
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01/2 BATHS
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7,680SQFT
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$355$/SQFT
School Ratings & Info
Description
Containing exclusively two-bedroom units, the property provides a new owner the chance to dramatically improve cash flow as current rents are approximately 62% below market level. In-place rents average only $1.66 per square foot, while similar apartments in the area are achieving $2.60-$2.79 per square foot. The property sits approximately one mile from both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria. Situated near the intersection of Central Avenue and San Fernando Road, tenants enjoy convenient access to Griffith Park, Los Feliz, the Greek Theatre, and the Los Angeles Zoo. The soon-to-be-completed multi-million dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is only one mile from the building.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-25T23:43:08.557. 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.