Property Details

Price $5,835,000

Year Built 1988

# of Units 14 + 1NC

Price P/ Unit $416,786

Sq. ft. 11,862 SF

Price p/ Sq. ft. $492

Current Cap Rate 4.09%

Proforma Cap Rate 5.32%

Lot Size 13,499 SF

Zoning GLR4*

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About the Property

719 Orange Grove is a fourteen unit (plus 1 non-conforming studio unit) courtyard complex located near the heart of downtown Glendale. The city of Glendale allows from an annual rent increase of 5% plus Consumer Price Index (CPI), currently 10%. Please note, rents have not been increased in 2022, providing immediate upside to the new owner. Located just east of Glendale Ave and 2 blocks north of Colorado, 719 Orange Grove is located walking distance from The Americana at Brand, Glendale Galleria, Glendale Fashion Center and an array of dining/entertainment options along Brand Blvd. Built in 1988, 719 Orange Grove features an enticing unit mixed comprised of (12) 2-bdrm. and 2-bath units, (2) 1-bdrm. units and a non-conforming studio unit. A majority of the units feature wood laminate flooring, stainless-steel appliances, central air conditioning and private balconies. Property amenities include controlled access, secure covered parking and a community laundry room.

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