629 E 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, 629 E Elk features a strong mix of eight two-bedroom and six one-bedroom units, each averaging approximately 750 square feet.

For Glendale multifamily investors, 629 E Elk represents a compelling opportunity. The combination of immediate cash flow, clear value-add potential through ADU conversion, and favorable rent control exemption positions 629 E Elk as an attractive acquisition for investors seeking both current income and long-term appreciation.

Location and Tenant Base

629 E Elk is located just blocks from Brand Boulevard and minutes from The Americana at Brand, Glendale Galleria, and the Fashion Center. The Glendale multifamily property draws from a high-income tenant base employed across law firms, finance, entertainment, and the nearby studio sector.

For Glendale multifamily operators, the location of 629 E Elk supports consistent tenant demand and premium rental positioning. The proximity to employment centers, retail amenities, and entertainment venues creates a desirable living environment. The high-income tenant profile supports both occupancy stability and rental rate growth.

Unit Mix and Current Condition

629 E Elk comprises eight two-bedroom units and six one-bedroom units, each averaging approximately 750 square feet. Ten of the fourteen units at the Glendale multifamily property have already been renovated with modern upgrades including quartz countertops, stainless steel appliances, wood-laminate flooring, stylish tile finishes, and select mini-split A/C systems.

The unit mix at 629 E Elk balances market demand with operational efficiency. The two-bedroom units appeal to families and longer-term residents, while the one-bedroom units attract young professionals and downsizers. The renovation progress at this Glendale multifamily asset reduces near-term capital expenditure risk while maintaining upside potential.

ADU Conversion and Value-Add Potential

A key value driver at 629 E Elk is the ADU conversion potential. Three existing 30' x 10' storage rooms are currently in the planning phase for conversion into two two-bedroom accessory dwelling units. With projected rents of $4,990 per month, the ADUs represent an immediate path to increased NOI and long-term yield enhancement for this Glendale multifamily property.

For Glendale multifamily investors, the ADU opportunity at 629 E Elk is significant. The conversion of existing storage space into revenue-generating units requires minimal structural work and accelerates the path to value realization. The projected ADU rents demonstrate strong market demand and support the investment thesis.

Amenities and Parking

629 E Elk offers 21 side-by-side parking spaces and a modernized, coinless laundry room. These amenities are highly desirable for both residents and operators. The parking availability at this Glendale multifamily property is a meaningful competitive advantage in a market where parking is often limited. The coinless laundry system at 629 E Elk reduces operational friction and improves tenant experience. For Glendale multifamily operators, these amenities support occupancy stability and justify premium rental positioning.

Rent Control Framework and Income Growth

629 E Elk is exempt from Los Angeles rent control, a significant advantage for Glendale multifamily investors. Glendale's favorable rent control framework allows for annual rent increases of up to 8.8%, further supporting income growth and long-term value appreciation. For Glendale multifamily investors, the rent control exemption at 629 E Elk removes a significant constraint on income growth. The ability to implement market-rate increases supports both current cash flow and long-term appreciation potential.

Conclusion

629 E Elk represents a stabilized, well-located Glendale multifamily asset with clear upside in a high-demand rental corridor. The combination of 14 units, immediate cash flow, ADU conversion potential, rent control exemption, and favorable market positioning makes 629 E Elk attractive for investors seeking both current income and long-term appreciation.

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

The Kenny Stevens Team has extensive experience with value-add multifamily properties in Glendale and can help you evaluate whether 629 E Elk aligns with your investment strategy. Contact us to discuss the opportunity and explore how 629 E Elk fits your Glendale multifamily investment goals.