We are pleased to announce the sale of 208 E Lomita Avenue, a 20-unit multifamily property located in a prime pocket of Glendale, CA, just two blocks from the upscale Americana at Brand shopping center. Offered at the lowest price per unit of any currently available Glendale property, this listing presents an excellent opportunity to enter the highly-desirable submarket at an attractive per unit metric.The opportunity remains for a new owner to add value through interior improvements, which could help to increase rents above their current level. Several of the units have been remodeled with new wood flooring, upgraded kitchens, and updated bathrooms, effectively providing a blueprint for the new owner to follow for the remainder of the property. The four individual parking garages on-site provide an additional $425 in monthly income, while the on-site laundry facilities add yet another income stream to the investment.
Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo.
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