Courtesy of Handoko Chen, GIG Real Estate Inc.,

1060 Raymond Avenue

Glendale, CA, 91201

$8,100,000

$500 per ft²
$8,100,000
$500 per ft²
Pending
Pending
 - For Sale
carpenters-square
16,169 ft²
property_type
Condo
calendar
Built 1987
1060 Raymond Avenue, a 20-unit apartment located in the highly desirable city of Glendale, bordered by the City of Burbank. The property offers superb location with access to many amenities, within walking distance to IKEA Burbank, Burbank Downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 FWY and 134 FWY). This is the first time it has been offered for sale by the current owner that built it, and most of the tenants are long-time tenants that are on month-to-month lease. This provides significant upside potential to add value by increasing rent and return. 1060 Raymond is a beautifully maintained garden style apartment community built in 1987. Due to its newer construction, it offers many desirable amenities such as gated, subterranean parking, secured entrance, central A/C and heating in each unit, copper piping, and much more. It is situated on a quiet residential street surrounded by other a single-family and condominium communities. It offers a superb unit mix of (1) 3 bed + 2 bath unit, (11) 2 bed + 2 bath units, (7) 1 bed + 1 bath units, and (1) Studio unit with a total of 24 gated parking spaces on a large lot size of ±14,837 SF with a total building size of ±16,169 SF. The property has an excellent curb appeal and has been well maintained throughout current ownership with no known deferred maintenance with recently incorporated cost-efficient features such as, electricity generating solar system (zero electric bill – seller receive credit from electric provider), “electric eye”, 600-gallon solar water central heating system (±$30,000 upgrade – buyer to verify), newer polyurethane roof, dual-pane windows, new air conditioning units, on-site laundry (machines owned), central A/C and heating, and central hot water system with solar panels. Each unit offers a generous layout, recessed lighting, central A/C and heating, updated appliances with granite kitchen counter tops, shaker style cabinets, and stainless-steel kitchen appliances, tile and laminate wood flooring, and refreshed bathroom vanities. Most units have private patio or balcony. The property offers a single level gated subterranean parking garage. It has 32 parking spaces. The strong unit mix and excellent location is perfect for an investor seeking growth, stability, and a hedge against inflation.
MLS ID:
AR21147571
Listed:
7/6/21
Updated:
12/1/21
Coldwell Banker Hallmark Realty
Edwin Ordubegian

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Area
Floor Description
Laminate, Tile
Fireplace
None
Cooling
Central Air
Heating
Central

Exterior/Building Features

Lot Size
0.34 acres lot
Lot Details
Rectangular Lot, Street Level
Sewer
Public Sewer

Other Property Details

Area Name
626 - Glendale-Northwest
HOA Amenities
Suburban
Attached Garage
Yes
Garage Spaces
32
Parking
Controlled Entrance, Covered
Parking Total
32.0
County
Los Angeles
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Water Source
Public
Pool
No
Pool Description
None
Total Stories
2
Zoning
GLR4YY

Property History

Date
Event
Price
Value
10/28/21
Pending
-
-

 

Courtesy of Handoko Chen, GIG Real Estate Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 12/1/21. 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.

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Data last updated 4:25 AM UTC, 12/1/21

Coldwell Banker Hallmark Realty
Edwin Ordubegian
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