1227 Central Ave Glendale, CA 91204-2531

This exceptional multifamily investment opportunity presents a remarkable chance to acquire a well-maintained, two-story brick apartment building in Glendale, California's desirable Tropico neighborhood. The property, encompassing approximately 30,896 square feet, comprises 45 units: 3 studios and 42 one-bedroom, one-bathroom apartments, boasting a 97% occupancy rate. Built in 1927 and 1931, the two buildings sit on a sizable 28,167 square foot lot and offer residents a range of amenities including onsite laundry facilities, secure controlled access, a spacious courtyard, and a meticulously maintained swimming pool – a highly desirable feature in Southern California's sunny climate. Individual apartment features include laminate flooring, microwave ovens, and air conditioning. The property's prime location is a key advantage, situated within walking distance of public transit, the Americana and Glendale Galleria malls, and a Von's grocery store. Glendale Memorial Hospital is also conveniently close by. Its proximity to Downtown Glendale (1.7 miles), Burbank, and Pasadena further enhances its appeal. The property is zoned GLC3 and includes 15 parking spaces. This pet-friendly building offers a strong investment opportunity due to its high occupancy, desirable location, and attractive amenities. The asking price is $12,100,000, representing a price per square foot of $391.64 and a price per unit of $268,888.89. This is a net lease investment.