530 Palm Drive, Glendale, CA 91202
Property · 2 recorded sales since 2016
Sold February 2018
Listing Agent: Levon Alexanian (DRE #00911091) · Listing Office: Keller Williams World Media Ce · Contact: 818-239-3500 · Bought with: Sean Daryani · RE/MAX of Valencia · MLS #SR17234588 · Source: CRMLS
About this property
We are pleased to introduce to you this rare opportunity to own 16 units in non- rent controlled Glendale, California. The Palm Glen apartments are a very well maintained asset boasting an extensive list of capital improvements over the years including upgrades to interior units. Detailed upgrades list in offering memorandum. Built in 1985, the assets incorporates central AC, subterranean parking and intercom/gated access. Offered already at in place CAP rate of 3.63% the asset also has 15% + loss to lease to further improve the NOI. Glendale has historically low vacancy factor and his in a supply constrained state of mid-sized assets. Situated North of Glenoaks Blvd, Palm Glen is in prime location of town. Walking distance to Elementary, Middle and High Schools. Tenants are within a couple minutes to Downtown Glendale shops and services. With the excellent location, condition and superb fundamentals, The Palm Glen Apartments offer stabilized asset and appealing long term investment opportunity. Contact us for complete Offering Memorandum.
Listing description from the February 2018 sale, as reported to CRMLS.
Sale history
