135 N Verdugo Road, Glendale, CA 91206
Property · 2 recorded sales since 2020
Sold June 2021
Listing Agent: Levon Alexanian (DRE #00911091) · Listing Office: Keller Williams World Media Center · Contact: 818-239-3500 · Bought with: General NONMEMBER · NONMEMBER MRML · MLS #SR21032027 · Source: CRMLS
About this property
We are pleased to present the GlenVerdugo apartments, a well appointed 17 unit community in Glendale. Extensive modernization and remodel efforts have resulted in a stabilized asset in high demand. With the current in place NOI, an investor could obtain 60% LTV I.0. and achieve 5.1% return cash on cash. The current ownership has gone through great lengths and capital improvements to offer tenants a warm and inviting community including a courtyard lounge and BBQ area, lighting package, signage, secured access and parking just to name a few. 10 of the 17 units have been completely remodeled, the remaining units on turnover will allow the new buyer to realize even greater rate of return on their investment. The GlenVerdugo is a one of a kind unique asset, located within minutes to Americana at Brand & Galleria, is highly walkable with a 89 Walk-Score, and immediate access to the 2, 5, and 134 freeways. There is a large affordability gap in Glendale, $995,000 is the median home sales price with majority of residents being renters. The strong fundamentals, highly regarded police & fire departments, blue ribbon schools, and strong workforce, historically low vacancy - all lend to the continued desire to invest in Glendale. *** For full offering memorandum email or call listing agent ***
Listing description from the June 2021 sale, as reported to CRMLS.
Sale history
