629 Elk is a 14-unit Glendale multifamily investment opportunity offering immediate cash flow, built-in rental upside, and long-term value-add potential in one of the most landlord-friendly submarkets in the Los Angeles multifamily market. Constructed in 1986 and exempt from Los Angeles rent control, the property features a strong mix of (8) two-bedroom and (6) one-bedroom units, each averaging approximately 750 square feet. Located just blocks from Brand Boulevard and minutes from The Americana at Brand, Glendale Galleria, and the Fashion Center, the property draws from a high-income tenant base employed across law firms, finance, entertainment, and the nearby studio sector.

Ten of the fourteen units have already been renovated with modern upgrades such as quartz countertops, stainless steel appliances, wood-laminate flooring, stylish tile finishes, and select mini-split A/C systems. A key value driver at 629 E Elk is the ADU potential—three existing 30’ x 10’ storage rooms are currently in the planning phase for conversion into (2) two-bedroom accessory dwelling units. With projected rents of $4,990/month, the ADUs represent an immediate path to increased NOI and long-term yield enhancement.

The property also offers 21 side-by-side parking spaces and a modernized, coinless laundry room—highly desirable amenities for both residents and operators. Current financing includes an assumable $3,125,000 loan at 6.18% interest-only, fixed for the next three years—providing both stability and flexibility for new ownership. Glendale’s favorable rent control framework allows for annual rent increases of up to 8.8%, further supporting growth.

For investors seeking a stabilized, well-located Los Angeles multifamily asset with clear upside in a high-demand rental corridor, 629 Elk delivers on every front: location, income, potential, and long-term security in one of the region’s most resilient markets.