113 S Cedar St, Glendale, CA 91205

Property Description

Exceptional opportunity to own a well-maintained six (6) - unit property built in 1984 and centrally located on a quiet street just blocks away from Glendale's civic center. Each of the six units features 2 Beds/2 Baths, with a total of 4770 SF of living space. The two-story property is sited on an ample 7,131 SF lot with convenient alley access to the rear, and 11 parking spaces for the residents, in addition to an on-site laundry room with storage room.The building features a newer roof (May, 2018), and the units are upgraded upon turnover. Four of the units are month to month, with the other two having signed recent leases. In addition, all the monthly rents are low compared to market. Current annual gross income is $136,440, with an immediate potential for $148,400. In the midterm, even assuming a conservative market figure, total income rises to nearly $170,000 annual gross.In addition to the building's excellent characteristics, the location is superb. Glendale is already, and increasingly, a highly-desired market given its central location just north of DTLA, safe streets, recreation and employment opportunities, and high-ranking schools. The property is located on a quieter street, and residents have easy access to abundant shopping and amenities. The Civic Center is five blocks away, the Americana is less than 1 mile away, and Glendale Adventist Medical Center, Glendale High School, freeway access, and downtown Glendale are all about 1 mile away.