615 S Columbus Avenue Glendale, CA 91204
California Court Bungalows, located at 615 S. Columbus Avenue, is a tastefully restored 13-unit California bungalow courtyard style asset located five blocks from the Glendale Americana. Current ownership has spent over $700, 000 on capital improvements including new electric, plumbing and exterior work. The property is comprised of (12) 1 BD/1 BA units and (1) studio. All of the spacious units have been thoughtfully renovated to capitalize on the area’s strong tenant base. Current ownership has implemented a RUBS program across all units to improve operational efficiencies, allowing new ownership to operate the asset at a sub 30% expense ratio. Eight existing garages and (5) surface spaces provide current income, and also have the potential to be converted into three (3) ADUs for additional rental revenue of approximately $34, 605. Based on estimates, a new owner can achieve a return on cost of nearly 270% by raising rents to market and completing additional investment into the ADU construction. 615 S. Columbus Avenue offers a fully assumable loan at 5.18% with 5 years of fixed financing and 2 years of interest only payments remaining.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site249 Days
- MLS StatusActive
- MLS ID NumberPW23169851
- Home Size Source N/A
- Year Built1923
- Lot Size0.4268 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 13
- Sewer Public Sewer
- Number of Stories 1
- Acreage 0.4268
- Water Public
- Property Sub Type Mixed Use
- Garage Spaces 8
- Zoning GLR4YY
- Listing Conditions Standard
Interior Features
- Laundry Features Inside
Exterior Features
- Pool Features None
- Lot 11-15 Units/ Acre
Community Features
- Community Features Sidewalks
- Senior Community No
- MLS Area 628 - Glendale-South of 134 Fwy