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    1046-& 1050 Western Ave

    Glendale, CA 91201
    • $2,200,000
    • STATUS: Active
    • ON SITE: 137 days
    • ID#: GD20247436
    UPDATED: 83 min ago
    $2,200,000
    • 0
      BEDS
    • 0.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,744
      SQFT
    • $802
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1941
    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 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+GG wide by 159.37+GG 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 today+GGs market.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-14T18:24:36.733. 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 deemed reliable but is not guaranteed accurate by the MLS or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
    www.bestorangecountyhomesearch.com/homes/112245453
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    1046-& 1050 Western Ave Glendale, CA 91201

    • Price: $2,200,000
    • Status: Active
    • Updated: 83 min ago
    • ID#: GD20247436
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.35
    Acres
    2,744
    SQFT
    $802
    $/SQFT
    1941
    Built
    Neighborhood:
    626 - Glendale-Northwest
    County:
    Los Angeles
    Area:
    626 - Glendale-Northwest
    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 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+GG wide by 159.37+GG 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 today+GGs market.
    Exterior Features

    Garage Spaces 0.00 Lot Features Level With StreetLot 10000-19999 SqftRectangular Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 8.00 Pool Features None Pool Private YN No Property Attached YN Yes Uncovered Spaces 8.00

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features Inside Levels One

    Property Features

    Additional Parcels Description 5623025022 Additional Parcels YN Yes Building Area Units Square Feet Cap Rate 0.81 Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 49200.00 Gross Scheduled Income 49200.00 Insurance Expense 2500.00 Land Lease YN No Laundry YN Yes Net Operating Income 18491.00 New Construction YN No New Taxes Expense 23709.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 2 Operating Expense 30709.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 30709.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Krikor Garabedian of Keller Williams R.E. Services and Kimberly Ann Meyer of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-14T18:24:36.733. 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 deemed reliable but is not guaranteed accurate by the MLS or Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
     
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    Doherty Real Estate Group | eXp Realty of California, Inc.
    27101 Puerta Real
    Mission Viejo CA, 92691