427 E Acacia Avenue, Glendale, CA 91205
Property
Sold April 2024
Listing Agent: Roderick 'Rick' Raymundo (DRE #01357019) · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: George Ouzounian · The Agency · MLS #24366387 · Source: CRMLS
About this property
Presented alongside the neighboring 421 E Acacia Avenue building, the two properties are available either individually or as a portfolio. The entire building consists of two bedroom apartments with rents ranging from $2,025 to $2,075, while similar properties are achieving rents above $2,700. A new investor may be able to capture the approximately 27% rent upside more rapidly as the property is granted higher allowable rent increases via AB 1482, when compared to other assets subject to Los Angeles rent control. The buildings are surrounded by attractive shopping and dining options. Mere blocks east, tenants can enjoy boutiques, coffeeshops, and restaurants in historic Adams Square. Several retailers and restaurants line both Glendale Avenue and Brand Boulevard, both major streets being within two blocks of the property. Less than one mile north are both the upscale Americana at Brand shopping center and the recently remodeled Glendale Galleria shopping mall.
Listing description from the April 2024 sale, as reported to CRMLS.
Sale history