724 N Howard Street, Glendale, CA 91206

About this property

***Please Contact Us For An OM***Assumable loan of $1,250,000 at 3.83% interest only for four years and fixed for six years. Fantastic opportunity to own a six-unit building in the highly desirable Glendale area located in an exceptional neighborhood, with an 81 Walk Score and easy access to the Americana at Brand, Griffith Park, Adventist Health, Glendale Plaza, and Glendale Fashion Center. The property is not subject to LA City rent control and features an attractive assumable loan of approximately $1,250,000 at a fixed rate of 3.83% with interest-only payments until March 2027 and maturing on approximately March 2029. In addition to the attractive financing, the property also has significant growth potential. By adding an ADU in the tuck-under parking, the buyer may potentially convert the 6 units to 7 units (*see photo rendering), subject to buyer's own confirmation of feasibility. The property has 45% upside in rents and an estimated 18% average annual return potential if the buyer turns 4 units during a 5-year time period.Please contact us for further information.

Listing description from the June 2023 sale, as reported to CRMLS.

Sale history

$2,490,000

Sold June 2023 · listed $2,600,000, on market March 2023 · MLS #23249243 · Source: CRMLS

Listing Agent: Kelly Morgan · Listing Office: Houze Real Estate Management · Contact: 323-852-1372 · Bought with: Kelly Morgan · KW Advisors

$2,224,000

Sold June 2020 · listed $2,460,000, on market March 2020 · MLS #320001189 · Source: CRMLS

Listing Agent: Stephen Baker · Listing Office: Stevenson Real Estate Services · Contact: 818-956-7001 · Bought with: Babak Bobby Broukhim · New Plan Brokerage Inc.

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