601 E Acacia Avenue is a charming three-story, 12-unit multifamily property located on a 15,256 SF lot zoned GLR4.Built in 1961, the building spans 21,315 SF and boasts a beautiful courtyard design. The property offers 18 covered parking spaces, as well as street parking, making it an attractive option for… Read More residents. The unit mix is highly desirable, comprising of 1 one-bedroom/one-bathroom unit, 9 two-bedroom/one-bathroom units, and 2 three-bedroom/two-bathroom units. Two units have private covered patios, including one with a fenced backyard, providing a tranquil outdoor space for residents to enjoy. The property has undergone recent renovations, including the installation of modern HVAC wall units, new electrical systems, and a convenient communal laundry facility. Additionally, the property has acquired a renovated roof, solar panels have been removed, and recently upgraded to copper plumbing, making way for additional storage in the garage areas for tenants to appreciate. The garage spaces also offer a potential opportunity for savvy investors to construct an Accessory Dwelling Unit (ADU),providing a unique chance to increase revenue and diversify the property's income streams. Located in the heart of Glendale, this property is a short drive from the I-5 and I-2 Freeway. Additionally,601 E Acacia Avenue is ideally located within minutes of an abundance of restaurants, grocery stores, bakeries, coffee and tea shops, including the infamous Americana at Brand in downtown Glendale. Given the property's stable real estate fundamentals and prime location within the submarket of Glendale,601 E Acacia Avenue is a solid investment for an investor seeking growth, stability, and a hedge against inflation. Read Less
Property listed by CBRE, Jenny Eng 310-259-7556
Listing Snapshot
Days Online
112
Last Updated
Beds
25
Square Ft.
11,499
Lot Size
0.35 Acres
Year Built
1961
MLS Number
26660355
Additional Details
Appliances & Equipment
Range
Building
Built in 1961, Living area: 11499.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $327,972, Net Operating Income: $218,740
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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