121 Maynard St Glendale, CA 91205-1501

Property Details for 121 Maynard St

Year built

1954

Lot size

0.36 lot acres

Property size

7,856 SF

Zone code

GLR4*

Property type

Apartment buildings

APN

5680-025-007

APU

5680025007

Description

This exceptional investment opportunity presents two sixteen-unit apartment buildings totaling thirty-two units, situated on separate parcels in Glendale's desirable Citrus Grove neighborhood. Offered for sale for the first time in almost two decades, this portfolio comprises 121 Maynard Street and 1502 East Broadway, each boasting sixteen one-bedroom, one-bathroom units. Built in 1954, the units average nearly 500 square feet and have undergone renovations under current ownership. Two units are currently vacant, presenting immediate potential for increased revenue. Each building features an on-site laundry room, and all units have individual gas and electric meters and hot water heaters. Ample parking is available, with twenty spaces at 1502 East Broadway and twelve spaces plus twelve storage units at 121 Maynard Street. An additional owner's storage shed is located at the rear of 121 Maynard Street. The properties are zoned R2250, offering significant potential for future development or expansion. The combined property size is 7,856 square feet on a 0.36-acre lot. The asking price for this high-yield investment is $9,000,000, representing a compelling opportunity for significant rental upside exceeding 26%. This portfolio offers a rare chance to acquire a well-maintained, established multifamily asset with substantial growth potential in a thriving Glendale location.

Location Insight

City

Glendale

County

Los Angeles

State

California

Longitude

-118.231

Latitude

34.1454

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments