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Additional details
$ 2,950,000
Est. payment | /mo
13 Beds
8 Baths
7,853 SqFt
$ 2,950,000
Est. payment | /mo
13 Beds
8 Baths
7,853 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,853 sqft
Price per Sqft $375
MLS Listing ID 25517525
Bedrooms 13
HOA Y/N No
Year Built 1962
Lot Size 7,496 Sqft
Property Description
120 S. Belmont St. checks all the boxes for investors looking for a well-maintained asset in a highly desirable rental pocket of Glendale. The property is located 1.1 miles from The Americana, Glendale Galleria, Glendale Fashion Center, & an array of dining and entertainment options in downtown Glendale (Brand Blvd). This location offers tenants walkable access to luxury retail, dining, and top-tier employers (ranging from high-powered law firms to media and healthcare companies). Offered at 5.37% CAP and 12.47 GRM on current rents, $376 per foot, and $368 per unit, the property. In addition, Glendale's pro-landlord jurisdiction allows for annual rental increases of up to 5% + CPI (currently 8.9%), versus 4% for properties subject to LA rent control (buyer to verify). Most units are large 2-bdrm. units averaging approx. 1,000 SF, featuring spacious layouts, oversized windows, and excellent natural light. The building has been well cared for and includes gated access, 8 carport parking spaces with storage lockers, and minimal landscaping for low operational overhead. With solid existing income, potential for light cosmetic improvements, and a tenant base supported by nearby law, finance, and entertainment employment hubs, 120 S. Belmont is an ideal asset for investors seeking reliable growth in one of LA's most resilient submarkets.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4YY
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Laundry Common Area
Exterior
Parking Features Carport
Community Features Gated
View Y/N No
View None
Total Parking Spaces 8
Building
Faces West
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5674011019
Security Features Gated Community
Special Listing Condition Standard
Listed by Kenny Stevens • Compass