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    1046 Western Ave

    Glendale, CA 91201
    • $2,200,000
    • STATUS: ACTIVE
    • ON SITE: 48 days
    • ID#: 302972214
    UPDATED: 36 min ago
    $2,200,000
    • 6
      BEDS
    • 0.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    We are pleased to present 2 adjacent lots in the City of Glendale, which include a 3-Unit Property and an adjacent Single Family Residence just south of Glenoaks Boulevard on Western Avenue. The Triplex is located at 1046 Western Avenue, and has 2 units towards the rear, which are fully occupied and a separate house in the front which is currently inhabitable and in need of major repair or teardown. The adjacent parcel, located at 1050 Western Avenue, includes a 2-bedroom 1-bathroom Single Family Residenc We are pleased to present 2 adjacent lots in the City of Glendale, which include a 3-Unit Property and an adjacent Single Family Residence just south of Glenoaks Boulevard on Western Avenue. The Triplex is located at 1046 Western Avenue, and has 2 units towards the rear, which are fully occupied and a separate house in the front which is currently inhabitable and in need of major repair or teardown. The adjacent parcel, located at 1050 Western Avenue, includes a 2-bedroom 1-bathroom Single Family Residence, which is currently occupied by a long-term tenant on a month to month lease. According to public data, the parcels total 15,185 square feet, with dimensions of 97 wide by 159.37 deep. The zoning of the property is R2250, which is a Glendale Medium Density Zoning. According to Glendale municipal code, lots which have a width of 90 feet or greater can calculate 1 dwelling unit for each 1,800 square feet of land. Based on our translation, a developer can build a total of 8 dwelling units on these two lots. All Buyers are encouraged to conduct their own investigation and should not rely solely on this data for investment or future development purposes. The property is currently generating income of $4,100 per month. A developer can purchase this property and have income to support holding costs while going through the entitlement process. That in conjunction with the superior location of this asset, makes this offering truly a compelling property in todays market.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.callstein.com/homes/112246271
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    1046 Western Ave Glendale, CA 91201

    • Price: $2,200,000
    • Status: ACTIVE
    • Updated: 36 min ago
    • ID#: 302972214
    6
    Beds
    0
    Baths
    0
    ½ Baths
    0.35
    Acres
    Neighborhood:
    Glendale (91201)
    County:
    Los Angeles
    Area:
    Glendale (91201)
    Property Description
    We are pleased to present 2 adjacent lots in the City of Glendale, which include a 3-Unit Property and an adjacent Single Family Residence just south of Glenoaks Boulevard on Western Avenue. The Triplex is located at 1046 Western Avenue, and has 2 units towards the rear, which are fully occupied and a separate house in the front which is currently inhabitable and in need of major repair or teardown. The adjacent parcel, located at 1050 Western Avenue, includes a 2-bedroom 1-bathroom Single Family Residenc We are pleased to present 2 adjacent lots in the City of Glendale, which include a 3-Unit Property and an adjacent Single Family Residence just south of Glenoaks Boulevard on Western Avenue. The Triplex is located at 1046 Western Avenue, and has 2 units towards the rear, which are fully occupied and a separate house in the front which is currently inhabitable and in need of major repair or teardown. The adjacent parcel, located at 1050 Western Avenue, includes a 2-bedroom 1-bathroom Single Family Residence, which is currently occupied by a long-term tenant on a month to month lease. According to public data, the parcels total 15,185 square feet, with dimensions of 97 wide by 159.37 deep. The zoning of the property is R2250, which is a Glendale Medium Density Zoning. According to Glendale municipal code, lots which have a width of 90 feet or greater can calculate 1 dwelling unit for each 1,800 square feet of land. Based on our translation, a developer can build a total of 8 dwelling units on these two lots. All Buyers are encouraged to conduct their own investigation and should not rely solely on this data for investment or future development purposes. The property is currently generating income of $4,100 per month. A developer can purchase this property and have income to support holding costs while going through the entitlement process. That in conjunction with the superior location of this asset, makes this offering truly a compelling property in todays market.
    Exterior Features

    Pool N/K Topography Level

    Interior Features

    Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

    Property Features

    Actual Cap Rate 0.81 Annual Expense Actual 30709 Buildings 4 Gross Scheduled Income Actual 49200 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 1800.0 Unit2 Rent Actual 1100.0 Unit3 Rent Actual 1200.0 Unit4 Rent Actual 0.0 Zoning Assessor

    Listing provided courtesy of Keller Williams R.E. Services. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    7817 Ivanhoe Ave.
    La Jolla CA, 92037