311 E Maple Street Glendale, CA 91205
Listing Courtesy of: CRMLS / Coldwell Banker Hallmark Realty / Vahik Beglarian - Contact:  818-203-5471

  311 E Maple Street Glendale, CA 91205

Active (187 Days)
$2,950,000

Description

Excellent opportunity to purchase an eight (8) unit apartment building with a significant upside in rental income. 311 E. Maple Street is an 8-unit multifamily property in the desirable southeast area of Glendale, CA. This property provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it’s the first time in the market after 39 years of ownership, this is truly an irreplaceable asset to own.

The property is a two-story building that was constructed in 1974 and consists of two large 2bed and 1.3/4bath units and six 1bed and 1bath units. Large roomy units (Buyer to verify the square footage if required). It also includes thirteen (13) parking spaces that include a combination of a private two (2) car garage, which is being used by the owner as storage currently, eleven (11) surface carport parking spaces, which are used by the tenants, a large on-site laundry room, and very minimal landscaping. Most tenants are on a month-to-month basis, and units are separately metered for gas and electricity. The property is within a short distance to multiple bus stops located on Glendale Avenue and Brand Boulevard, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways.

Buyers might explore the opportunity to convert the two-car private garage into an ADU, this could be a great opportunity to boost future rental revenue and income stream, raising the overall value of the investment. Buyer to verify with the city for associated ADU conversion requirements.

The roof was replaced/refinished in 2018 with TPO compound material and has a 20-year warranty. Newly painted building.

MLS #:
GD23226348
Lot Size
8,752 SQFT
Type
Multifamily
Year Built
1974
County
Los Angeles County

Listed By

Vahik Beglarian, DRE #00941552 CA, Coldwell Banker Hallmark Realty, Contact: 818-203-5471
Source
CRMLS
Last checked Jun 22 2024 at 6:57 AM GMT+0000
Bathroom Details
Interior Features
  • Laundry: Common Area
Lot Information
  • Landscaped
  • Sprinklers In Front
  • Street Level
Heating and Cooling
  • Radiant
Utility Information
  • Utilities: Water Source: Public, Natural Gas Connected, Water Connected, Cable Connected, Phone Connected, Sewer Connected, Electricity Available
  • Sewer: Public Sewer
Parking
  • Driveway
  • Garage
  • Assigned
  • Carport
  • Door-Multi
  • Detached Carport
  • Attached Carport
Stories
  • 1
Additional Listing Info
  • Buyer Brokerage Commission: 2.500
Location
   
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Listing Price History

Date
Event
Price
% Change
$ (+/-)
Feb 09, 2024
Price Changed
$2,950,000
-2%
-45,000
Feb 02, 2024
Price Changed
$2,995,000
-5%
-155,000
Dec 18, 2023
Original Price
$3,150,000
-
-
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.