The Property

Garden style apartment in an up-and-coming neighborhood of South Glendale with 15 separately metered and recently remodeled units. 10 covered parking spaces.

Stats

Price $3,257,000

City Glendale

Units 15

Current CAP 4.8%

Current GRM 14.75%

Price p/ Sq. ft. $368

Price P/ Unit $238,333

The Result

We represented the buyer, who was hoping to find an amazing off-market deal.  This listing had been sitting on the market for months so we were able to negotiate a much better price.

The property appraised at $200k above the purchase price, which is a very rare occurrence.  The Buyer couldn’t be happier with this great addition to their portfolio, having only paid $210k per unit in an up-and-coming Glendale neighborhood.