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FOR SALE
$7,100,000

107 N Columbus Avenue
Glendale, CA 91203

Other
Residential Income
10
Beds
13
Baths
7,796
Sq. Ft.
0.217
Acre Lot
Listing Agent: Douglas Steinriede CalDRE: 00284936 - Dover Management Corp.
Last Updated: 2/17/2025 2:27 AM
Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***
25482897
Other, 2 Story
10
Los Angeles
13
0.217 Acres
1925
2
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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Listing Agent: Douglas Steinriede CalDRE: 00284936 - Dover Management Corp.
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