1001 MELROSE - 63 UNITS IN GLENDALE, CA

1001 MELROSE

GLENDALE, CA 91202

$20,000,000

63 Multifamily units in prime residential North Glendale location. Non-rent control building with strong rental upside potential. Rents per unit $200-400 below market for similar vintage comparables, and $400-1,000 below new construction comparables. Average rent in the Burbank/North Glendale Submarket has increased 27.2% over the past five years. Current owners invested $1.3 million in property improvements including SOFT STORY RETROFIT.

North of Glenoaks Blvd, west of Central Ave. Close proximity to downtown Glendale and easy access to downtown Los Angeles.