13,020 Sq. Ft
Year Built 1960
Upside in rents
Mid Century feel
The Alexanian Apartment Advisors are pleased to exclusively offer the Glen Verdugo Apartments for sale, a 17 unit professionally managed community in Glendale.
Somewhat an icon on the city of Glendale, this midcentury building is located on a major thoroughfare and artery, Verdugo Rd, right through the heart of the city. The long term family owners in conjunction with a professional management company, have mutinously maintained the asset. GlenVerdugo Apartments are comprised of very well laid out, spacious units with significant loss to lease and upside in rents. With minimal capital expense, there is 13% upside in rents. A more focused interior update plan can expect to achieve approximately 20% upside in rents.
The extremely close proximity to Americana at Brand, or better known as one of L.A.’s premiere dinning, shopping and entertainment hot spots, is a major plus for tenants. There has been significant entry by retailers and employers into the city, making it a truly live-work city. Glendale is well known for its well-managed municipal government, police & fire departments, and has one of the largest financial districts in California.
This rare opportunity to acquire a mid-sized well managed asset is an ideal complement to any pride of ownership portfolio as well as perfect 1031 upleg.