421 Riverdale Drive

21

We are proud to represent this 16-unit apartment building in Glendale. The building was constructed in 1926, and it consists of (16) one-bedroom, one-bathroom units. Its lot size is 24,996 square feet, with a total of 7,570 rentable square feet. The units are completely furnished (with the exception of the manager's unit) and are rented to a combination of executive housing, and long term housing. 13 of the 16 utilities are paid for by the seller, but the property is separately metered for gas and electricity in case the new owner wants to transition back to traditional rentals. There is additional income from garage rentals and it can be increased as the owner is using multiple garages. The property has a historically high occupancy rate and a new owner can take over and achieve an above market return for the city of Glendale. The building can be financed with Chase Bank with 50% down or First Republic with 40% down. The property is centrally located in Glendale, which is a highly desirable rental market. As a major production center for the entertainment and animation industry, the city offers many amenities and attractions. Its residents enjoy excellent shopping and dining at the Americana at Brand, which features 75 shops and restaurants, as well an 18-plex theater. The city’s numerous high-rated restaurants and attractions earned its title as Los Angeles neighborhood of the year in Curbed magazine.
421 Riverdale Drive, Glendale, CA 91204 | Residential Income | Pending | 7570 SF | 24996 SF Lot | Built 1926 | 1 Stories | MLS# SR18212380

Pending $5,100,000

Features

Garage Spaces: 9 | Parking Spaces: 21 | Pool: No

Meet an expert

Troy Palmquist
Agent | DRE# 01772139

805.409.3662

Based on information from California Regional Multiple Listing Service, Inc. as of July 20, 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Listing provided by
Cindy Hill, Keller Williams Realty-Studio, Source: Local MLS