
Closed Listing
8 Units @ 5.37% CAP & 12.47 GRM by The Americana
120 s belmont st
sold in
Glendale
Sold At
$
2,680,000
8
Number of Units
1962
Year Built
7,853
SF
Square Footage
7,498
SF
Lot Size
GLR4
Zoning
120 S Belmont St, Glendale, CA 91205
About the Property
120 S Belmont St. checks all the boxes for investors looking for a well-maintained asset in a highly desirable rental pocket of Glendale. The property is located 1.1 miles from The Americana, Glendale Galleria, Glendale Fashion Center, & an array of dining and entertainment options in downtown Glendale (Brand Blvd). This location offers tenants walkable access to luxury retail, dining, and top-tier employers (ranging from high-powered law firms to media and healthcare companies). Offered at 5.37% CAP and 12.47 GRM on current rents, $376 per foot, and $368 per unit, the property. In addition, Glendale's pro-landlord jurisdiction allows for annual rental increases of up to 5% + CPI (currently 8.9%), versus 4% for properties subject to LA rent control (buyer to verify). Most units are large 2-bdrm. units averaging approx. 1,000 SF, featuring spacious layouts, oversized windows, and excellent natural light. The building has been well cared for and includes gated access, 8 carport parking spaces with storage lockers, and minimal landscaping for low operational overhead.
8
Number of Units
1962
Year Built
7,853
SF
Square Footage
7,498
SF
Lot Size
GLR4
Zoning
Detailed Brochure on Real Estate Opportunities
Price P/ Unit
$335,000
Price p/ Sq. ft.
$341
Proforma Cap Rate
6.54




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