Glendale CA  home offered at $2,590,000 

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244 N Kenwood Street
Glendale, California CA 91206-4209
Sold For: $2,450,000
Listing ID: AR22229228
Price/SqFt: $480.02
Status: Closed
Sold Date: 3/10/2023
SqFt: 5,104 Sq Ft
Acres: 0.173 Acres
Year Built: 1922

244 N Kenwood Street, a charming pride-of-ownership 6-unit multifamily investment located in the highly desirable city of Glendale, California. This spectacular opportunity is perfect for an owner-user investor or an investor looking to acquire a superbly located apartment property. The property is located on a serene and highly convenient street that is surrounded by lush trees, beautiful residential homes, and apartments. The property is considered a “Walker’s Paradise” with a near perfect Walkability Score of 94 according to www.walkscore.com. Located just a few minutes’ walk away is Brand Boulevard and all the easily accessible amenities that it offers. The property consists of a two-story building with four LARGE 1bedroom+1bathroom, and a back duplex consisting single story with 2 x 1bedroom+1bathroom. It has a 5,104 SF building size on a 7,527 SF lot size. There is a common outdoor seating area between the 2 buildings. Built in 1922 and renovated in 2022, the property has been impeccably maintained and offers a turn-key pride of ownership opportunity for its future owner. The building has been refaced with new bold exterior paint, refreshed landscaping, and cleaned up common area. The four units in front building has a charming layout and amenities such as coved/curved ceiling, original hardwood floor, built-in cabinets, walk-in closets and much more. These 4 units have large family room that can be easily converted into a 2nd bedroom. Three units in the front building have been beautifully upgraded with new paint, new kitchen (new cabinets, quartz countertops, stainless steel appliances, farm kitchen sink, dishwasher), stacked-up laundry machine, new bathroom (tiled flooring and tiled bathroom wall, new bathtub, new bathroom vanity and mirror), new mini split a/c & heating system, and new lighting throughout. The 4 units that have been upgraded are getting close to market rent; 1 unit can be delivered vacant, leaving the remaining 1 non-upgraded units with significant upside potential for the new owner. Parking is provided by 5 attached parking garages in the back. Each unit is individually metered for electricity and gas and has individual water heater. The property has a R4 (high-density) zoning.

Primary Features

County: Los Angeles
Price/SqFt: 480.02
Property Sub Type: Apartment
Property Type: Residential Income
Year Built: 1922
Zoning: GLR4YY

Interior

Average 1 Bed Area: 850
Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 2+ Common Walls
Cooling: yes
Cooling Type: Ductless, Wall/Window Unit(s)
Fireplace: no
Fireplace Features: None
Flooring: Wood
Garage Spaces: 5
Heating: yes
Heating Type: Ductless, Wall Furnace
Laundry: yes
Laundry Features: Common Area, Dryer Included, Washer Included
Levels: Two
Number Wall AC: 2
Number With Range: 6
Stories Total: 2

External

Electric: Standard
Lot Features: Corner Lot, Lawn, Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit
Lot Size Area: 7527
Lot Size Source: Assessor
Lot Size Square Feet: 7527
Number Of Buildings: 2
Parking: yes
Parking Features: Assigned
Parking Total: 5
Pool Features: None
Private Pool: no
Property Attached: yes
Sewer: Public Sewer
Water Source: Public

Location

Country: US
Direction Faces: West
Elevation Units: Feet
MLS Area Major: 628 - Glendale-South of 134 Fwy
Neighborhood: downtown glendale

Additional

Additional Parcels: no
Assessments: Buyer to Verify
Association: no
Community Features: Suburban, Urban
Days On Market: 118
List Agent State License: 01749321
List Office State License: 02021933
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 7
Number Of Separate Gas Meters: 7
Number Of Separate Water Meters: 1
Number Of Units Leased: 5
Number Of Units Total: 6
Parcel Number: 5642017006
Property Condition: Updated/Remodeled
Senior Community: no
Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Year Built Source: Assessor

Financial

Cap Rate: 4.83
Electric Expense: 600
Gross Multiplier: 15.11
Insurance Expense: 3056
Land Lease: no
Price Per Unit: 431667
Rent Control: yes
Special Listing Conditions: Standard
Tax Block: 7
Tax Census Tract: 3020.02
Tax Lot: 2
Tenant Pays: Electricity, Gas
Total Expenses: 41470
Trash Expense: 2086
Water Sewer Expense: 2396

Zoning Info


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Listed by: HandokoChen, DRE #01749321 from GIG Real Estate Inc. 626-594-4901

Contact - Listing ID AR22229228

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

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