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$8,100,000
103 Days Online

1060 Raymond Avenue
Glendale, CA 91201

For Sale|Multi-Family|Active
County:
Los Angeles

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1060  Raymond Avenue1060  Raymond Avenue1060  Raymond Avenue1060  Raymond Avenue
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1060 Raymond Avenue, a 20-unit apartment located in the highly desirable city of Glendale, bordered by the City of Burbank. The property offers superb location with access to many amenities, within walking distance to IKEA Burbank, Burbank Downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 FWY and 134 FWY). This is the first time it has been offered for sale by the current owner that built it, and most of the tenants are long-time tenants that are on month-to-month lease. This provides significant upside potential to add value by increasing rent and return. 1060 Raymond is a beautifully maintained garden style apartment community built in 1987. Due to its newer construction, it offers many desirable amenities such as gated, subterranean parking, secured entrance, central A/C and heating in each unit, copper piping, and much more. It is situated on a quiet residential street surrounded by other a single-family and condominium communities. It offers a superb unit mix of (1) 3 bed + 2 bath unit, (11) 2 bed + 2 bath units, (7) 1 bed + 1 bath units, and (1) Studio unit with a total of 24 gated parking spaces on a large lot size of 14,837 SF with a total building size of 16,169 SF. The property has an excellent curb appeal and has been well maintained throughout current ownership with no known deferred maintenance with recently incorporated cost-efficient features such as, electricity generating solar system (zero electric bill seller receive credit from electric provi 1060 Raymond Avenue, a 20-unit apartment located in the highly desirable city of Glendale, bordered by the City of Burbank. The property offers superb location with access to many amenities, within walking distance to IKEA Burbank, Burbank Downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 FWY and 134 FWY). This is the first time it has been offered for sale by the current owner that built it, and most of the tenants are long-time tenants that are on month-to-month lease. This provides significant upside potential to add value by increasing rent and return. 1060 Raymond is a beautifully maintained garden style apartment community built in 1987. Due to its newer construction, it offers many desirable amenities such as gated, subterranean parking, secured entrance, central A/C and heating in each unit, copper piping, and much more. It is situated on a quiet residential street surrounded by other a single-family and condominium communities. It offers a superb unit mix of (1) 3 bed + 2 bath unit, (11) 2 bed + 2 bath units, (7) 1 bed + 1 bath units, and (1) Studio unit with a total of 24 gated parking spaces on a large lot size of 14,837 SF with a total building size of 16,169 SF. The property has an excellent curb appeal and has been well maintained throughout current ownership with no known deferred maintenance with recently incorporated cost-efficient features such as, electricity generating solar system (zero electric bill seller receive credit from electric provider), electric eye, 600-gallon solar water central heating system ($30,000 upgrade buyer to verify), newer polyurethane roof, dual-pane windows, new air conditioning units, on-site laundry (machines owned), central A/C and heating, and central hot water system with solar panels. Each unit offers a generous layout, recessed lighting, central A/C and heating, updated appliances with granite kitchen counter tops, shaker style cabinets, and stainless-steel kitchen appliances, tile and laminate wood flooring, and refreshed bathroom vanities. Most units have private patio or balcony. The property offers a single level gated subterranean parking garage. It has 32 parking spaces. The strong unit mix and excellent location is perfect for an investor seeking growth, stability, and a hedge against inflation.

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Listing Snapshot
Price
$8,100,000
Days Online
103 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.3406 Acres
Year Built
N/A
MLS Number
AR21147571
Status
Active
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
2 months agoListing updated with changes from the MLS
3 months agoStatus changed to ACTIVE
3 months agoPrice changed to $8,100,000
3 months agoListing first seen online
General Features
Terms
Cash
Stories
2 Story
Interior Features
Cooling
Central Forced Air
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Exterior Features
Pool
N/K
Listing courtesy of GIG Real Estate Inc.

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Copyright © 2021 San Diego MLS®.

Data last update at 2021

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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