427 Lincoln Ave Active Save Request In-Person Tour Request Virtual Tour
Glendale,CA 91205
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,162 sqft
Price per Sqft $430
MLS Listing ID 25563101
Bedrooms 23
Construction Status Updated/Remodeled
Year Built 1986
Lot Size 9,146 Sqft
Acres 0.2114
Property Sub-Type Multi-Family
Property Description
We are please to present 427 Lincoln Avenue, an eleven-unit multifamily investment opportunity located in the Somerset neighborhood of East Glendale. This well-maintained asset will provide the next investor with the opportunity to capture approximately 33% in rental upside through an interior renovation program. The property also includes an occupied non-conforming one-bedroom unit that can be converted to an ADU as bonus income. Constructed in 1986, the asset comprises ten two-bedroom/two-bathroom units and one three-bedroom/two-bathroom units spread across 10,162 square feet. All units have separate meters for gas and electricity, individual water heaters, central HVAC. The property has gated entry, an on-site laundry room, and subterranean parking with 27 parking spaces. The property sits on a 9,146 square foot lot and is zoned R2250, making the existing number of units irreplaceable with the current zoning. Situated just south of Colorado Boulevard and east of Verdugo Road, 427 Lincoln Avenue is less than 2 miles from The Americana on Brand and less than 1 mile from Eagle Rock Plaza. Both Colorado Boulevard and Verdugo Road are major thoroughfares in Glendale where tenants can find a variety of retail, restaurants, and places of business within these corridors. Commuters are within minutes from the nearest on-ramp to the CA-2 and CA-134 Freeways, offering ease of access to the Eagle Rock, Highland Park, Burbank, Los Feliz, Atwater, Downtown Los Angeles, and all of San Gabriel Valley.
Location
State CA
County Los Angeles
Area Glendale-South Of 134 Fwy
Zoning R2250
Rooms
Other Rooms None
Interior
Heating Central
Cooling Central
Equipment Garbage Disposal, Range/Oven, Refrigerator
Laundry Room
Exterior
Parking Features Subterranean
Garage Spaces 27.0
Pool None
Building
Story 2
Level or Stories Multi/Split
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard