107 N Columbus Avenue, Glendale CA, 91203

Active

107 N Columbus Avenue

Glendale CA, 91203

$7,100,000

$910.72 per sqft

Active

10 Beds

13 Baths

7,796 sqft

Residential

Built in 1925

Listed by Douglas Steinriede with Dover Management Corp. 818-843-5200

Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***

25482897

MLSⓇ ID

January 22, 2025

Listed

January 30, 2025

Updated

Map

107 N Columbus Avenue
Glendale CA, 91203

Interior Features

Total Stories: 2
Bedrooms: 10
Total Bathrooms: 13
Appliances: Dryer, Washer
Fireplace: No
Cooling: Yes
Cooling Description: Electric
Heating: Yes
Heating Description: Electric

Exterior/Building Features

Lot Size: 0.22 Acres

Other Property Details

Area Name: 628 - Glendale-South of 134 Fwy
Days on Market: 8
Garage: Yes
Garage Spaces: 10
Parking Total: 10
View: No
County: Los Angeles
Pool: No
Zoning: GLC3*

Listing Contact: 818-843-5200

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 1/30/2025. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 1/30/2025 at 1:46 PM UTC