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Natalie Miranda
marketing@thewhipplegroup.com$ 1,100,000
Est. payment | /mo
6,982 Sqft Lot
$ 1,100,000
Est. payment | /mo
6,982 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD25119999
HOA Y/N No
Year Built 1922
Lot Size 6,982 Sqft
Property Sub-Type Apartment
Property Description
Located at 529 Raleigh Street in Glendale, California, this five-unit multifamily offering consists of a detached 2-bedroom/1-bath front house, three 1-bedroom/1-bath units, and a studio unit at the rear of the property. The total building size is approximately 2,788 square feet, situated on a 6,982 square foot lot. The front house is roughly 900 square feet, with the remaining units ranging from 300 to 500 square feet each.
The property features a shared courtyard between the front and rear buildings, offering an open-air communal area. While there is a driveway with space that could accommodate parking, current tenant use of the space as outdoor living area presents options for a future reconfiguration to enhance on-site amenities or create dedicated tenant parking.
Originally built in 1922, the property retains much of its original character and would benefit from thoughtful upgrades. The property presents a strong value-add opportunity for investors looking to enhance both rents and asset quality through renovation and systems upgrades. With current gross annual income at just $63,000, there is substantial rental upside once improvements are made. Located in the heart of Glendale, the property boasts excellent walkability to retail, restaurants, and other neighborhood amenities. Its central location within one of Los Angeles County's most desirable rental markets makes this offering particularly appealing to both seasoned investors and those looking to break into the Glendale multifamily market.
529 Raleigh Street represents a rare opportunity to acquire a true value-add asset in a highly sought-after Glendale location, with strong long-term upside through strategic renovations and repositioning.
The property features a shared courtyard between the front and rear buildings, offering an open-air communal area. While there is a driveway with space that could accommodate parking, current tenant use of the space as outdoor living area presents options for a future reconfiguration to enhance on-site amenities or create dedicated tenant parking.
Originally built in 1922, the property retains much of its original character and would benefit from thoughtful upgrades. The property presents a strong value-add opportunity for investors looking to enhance both rents and asset quality through renovation and systems upgrades. With current gross annual income at just $63,000, there is substantial rental upside once improvements are made. Located in the heart of Glendale, the property boasts excellent walkability to retail, restaurants, and other neighborhood amenities. Its central location within one of Los Angeles County's most desirable rental markets makes this offering particularly appealing to both seasoned investors and those looking to break into the Glendale multifamily market.
529 Raleigh Street represents a rare opportunity to acquire a true value-add asset in a highly sought-after Glendale location, with strong long-term upside through strategic renovations and repositioning.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4YY
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Level, Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5675015002
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Krikor Garabedian • Keller Williams R. E. Services • 818-298-8810
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Natalie Miranda
Marketing Director | License ID: 02122928