401 Raymond Ave
14 Unit Block of Flats £3,278,067 (£234,148/Unit) 3.99% Net Initial Yield Glendale, CA 91201
EXECUTIVE SUMMARY
Michael Kamara of Lyon Stahl is pleased to present 401 Raymond Ave, a 14 unit apartment building
located in Glendale, a neighborhood in the San Fernando Valley. Built in 1964, the property consists of
(3) one-bedroom + one-bathroom units, (10) two-bedroom + one-bathroom units and (1) two-bedroom
+ two-bathroom units. The building is 13,863 gross square feet and sits on a 16,940 square foot lot.
401 Raymond Ave is located on a charming, tree-lined street in Glendale. There is no shortage of
activities to explore in the area. From shopping at the Burbank Town Center or Glendale Galleria to
exploring Griffith Park and Stough Canyon, just a few miles away.
Glendale lies at the eastern end of the San Fernando Valley, the location provides convenient access
to the 134 and 5 freeways, further extending the area’s connectivity to the rest of Los Angeles.
401 Raymond Ave represents a unique value-add opportunity for investors due to the property’s
location and rental upside. The property offers a initial CAP rate of 3.99% with the ability to improve to a
6.35% CAP rate once units turnover.
located in Glendale, a neighborhood in the San Fernando Valley. Built in 1964, the property consists of
(3) one-bedroom + one-bathroom units, (10) two-bedroom + one-bathroom units and (1) two-bedroom
+ two-bathroom units. The building is 13,863 gross square feet and sits on a 16,940 square foot lot.
401 Raymond Ave is located on a charming, tree-lined street in Glendale. There is no shortage of
activities to explore in the area. From shopping at the Burbank Town Center or Glendale Galleria to
exploring Griffith Park and Stough Canyon, just a few miles away.
Glendale lies at the eastern end of the San Fernando Valley, the location provides convenient access
to the 134 and 5 freeways, further extending the area’s connectivity to the rest of Los Angeles.
401 Raymond Ave represents a unique value-add opportunity for investors due to the property’s
location and rental upside. The property offers a initial CAP rate of 3.99% with the ability to improve to a
6.35% CAP rate once units turnover.
PROPERTY FACTS
| Price | £3,278,067 |
| Price Per Unit | £234,148 |
| Sale Type | Investment |
| Net Initial Yield | 3.99% |
| Gross Rent Multiplier | 14.43 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 13,863 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1964 |
| Parking Ratio | 0.94/1,000 SF |
UNIT AMENITIES
- Storage Space
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 620 |
| 2+1 | 11 | - | 850 |
| 2+2 | 1 | - | 950 |
1 of 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 5625-005-023 | Improvements Assessment | £1,317,760 |
| Land Assessment | £798,133 | Total Assessment | £2,115,893 |
ZONING
| Zoning Code | R3, Glendale |
