Stanley Gardens 1140-1142 Stanley Ave
23 Unit Block of Flats £8,084,605 (£351,505/Unit) 4.45% Net Initial Yield Glendale, CA 91206
INVESTMENT HIGHLIGHTS
- 23 Units well Kept property
- Close to all schools and transportation
- Trust Sale
EXECUTIVE SUMMARY
Welcome to 1140-1142 Stanley Ave., Glendale California. 23 Units well-kept apartment building (one non-conforming Unit, which easily can be changed to legal unit based on new ADU laws Seller could have done but Seller is deceased). The property was built in 1984 with subterranean parking (35 spaces with the majority having storage on top of parking spaces).
There are 9 large Two Bedrooms 1.75 Baths, 13 large One bedroom with 1 bath and 1 single unit. Some of the units have private patios and/or balconies.
The property located in Central Glendale close by Glendale High School, Woodrow Wilson Middle School, and John Marshall Elementary School and Glendale Adventist Hospital and Medical Center. It is also close by shopping and transportation.
It is a trust sale and property will be sold in its present condition. There are 4 vacant units left vacant on purpose. There will be an hosted open house for any interested Buyer who are willing to make an offer on March 15 2025 4PM to 7 PM and Saturday March 15,2025 10 AM to 1 PM. All offer will be due on March 18 2025 at 5 PM.
Co listed with Artin Sakissian Art In Real Estate 818-437-2433
There are 9 large Two Bedrooms 1.75 Baths, 13 large One bedroom with 1 bath and 1 single unit. Some of the units have private patios and/or balconies.
The property located in Central Glendale close by Glendale High School, Woodrow Wilson Middle School, and John Marshall Elementary School and Glendale Adventist Hospital and Medical Center. It is also close by shopping and transportation.
It is a trust sale and property will be sold in its present condition. There are 4 vacant units left vacant on purpose. There will be an hosted open house for any interested Buyer who are willing to make an offer on March 15 2025 4PM to 7 PM and Saturday March 15,2025 10 AM to 1 PM. All offer will be due on March 18 2025 at 5 PM.
Co listed with Artin Sakissian Art In Real Estate 818-437-2433
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | £8,084,605 |
| Price Per Unit | £351,505 |
| Sale Type | Investment |
| Net Initial Yield | 4.45% |
| Gross Rent Multiplier | 15.26 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 23,618 SF |
| Average Occupancy | 96% |
| Number of Floors | 2 |
| Year Built | 1984 |
| Parking Ratio | 1.27/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Heating
- Granite Countertops
- Oven
- Range
- Carpet
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Gated
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 9 | £2,238 | 700 - 800 |
| 1+1 | 13 | £1,698 | 550 - 600 |
| Studios | 1 | £1,181 | 350 - 400 |
1 of 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 5645-016-020 | Total Assessment | £2,975,091 |
| Land Assessment | £1,903,372 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £1,071,720 | Tax Year | 2024 |
ZONING
| Zoning Code | GLR4* |
CONTACTS
-
Arthur
Mangassarian
-
Artin
Sarkissian
