$1,800,000
366 W Palmer Avenue Glendale, CA 91204
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$1,800,000
Est. payment /mo
3 Beds
3 Baths
6,952 Sqft Lot
UPDATED:
11/19/2024 03:51 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24229186
Bedrooms 3
HOA Y/N No
Lot Size 6,952 Sqft
Property Description
366-368 W Palmer Ave, Glendale, CA 91204 a multifamily investment rich in both financial upside and Historical significance. This 6-unit property, located in the highly desirable Tropico neighborhood of Glendale, offers an excellent opportunity for investors seeking both stable cash flow and long-term appreciation. Key Investment Highlights: Historic Significance: Constructed in 1897, this property was evaluated during the 2017 South Glendale Historic Resources Survey and recognized as a rare example of early residential development in Tropico. Its eligible for listing in the Glendale Register under local Criterion 1, representing the earliest period of South Glendales residential history, and under local Criterion 3, for its outstanding residential vernacular architecture. The property is not currently registered as a historic property. The new owner has the opportunity to pursue historic designation for added recognition and potential benefits. Architectural Integrity: The property retains many of its original, character-defining features, including its two-story height, rectangular plan, hipped roof with flared and bracketed eaves, central attic dormer, and wood lap siding. These architectural elements add value and appeal, making it a unique asset in Glendale's multifamily market. Value-Add Potential: In addition to its historical appeal, there is the opportunity to convert the existing garage into an (ADU's), further boosting rental income with minimal capital investment. With its blend of historical charm, architectural integrity, and income-generating potential,
366-368 W Palmer Ave, Glendale, CA 91204 a multifamily investment rich in both financial upside and Historical significance. This 6-unit property, located in the highly desirable Tropico neighborhood of Glendale, offers an excellent opportunity for investors seeking both stable cash flow and long-term appreciation. Key Investment Highlights: Historic Significance: Constructed in 1897, this property was evaluated during the 2017 South Glendale Historic Resources Survey and recognized as a rare example of early residential development in Tropico. Its eligible for listing in the Glendale Register under local Criterion 1, representing the earliest period of South Glendales residential history, and under local Criterion 3, for its outstanding residential vernacular architecture. The property is not currently registered as a historic property. The new owner has the opportunity to pursue historic designation for added recognition and potential benefits. Architectural Integrity: The property retains many of its original, character-defining features, including its two-story height, rectangular plan, hipped roof with flared and bracketed eaves, central attic dormer, and wood lap siding. These architectural elements add value and appeal, making it a unique asset in Glendale's multifamily market. Value-Add Potential: In addition to its historical appeal, there is the opportunity to convert the existing garage into an (ADU's), further boosting rental income with minimal capital investment. With its blend of historical charm, architectural integrity, and income-generating potential, 366-368 W Palmer Ave presents a unique opportunity for investors looking to capitalize on both cultural heritage and future growth.
366-368 W Palmer Ave, Glendale, CA 91204 a multifamily investment rich in both financial upside and Historical significance. This 6-unit property, located in the highly desirable Tropico neighborhood of Glendale, offers an excellent opportunity for investors seeking both stable cash flow and long-term appreciation. Key Investment Highlights: Historic Significance: Constructed in 1897, this property was evaluated during the 2017 South Glendale Historic Resources Survey and recognized as a rare example of early residential development in Tropico. Its eligible for listing in the Glendale Register under local Criterion 1, representing the earliest period of South Glendales residential history, and under local Criterion 3, for its outstanding residential vernacular architecture. The property is not currently registered as a historic property. The new owner has the opportunity to pursue historic designation for added recognition and potential benefits. Architectural Integrity: The property retains many of its original, character-defining features, including its two-story height, rectangular plan, hipped roof with flared and bracketed eaves, central attic dormer, and wood lap siding. These architectural elements add value and appeal, making it a unique asset in Glendale's multifamily market. Value-Add Potential: In addition to its historical appeal, there is the opportunity to convert the existing garage into an (ADU's), further boosting rental income with minimal capital investment. With its blend of historical charm, architectural integrity, and income-generating potential, 366-368 W Palmer Ave presents a unique opportunity for investors looking to capitalize on both cultural heritage and future growth.
Location
State CA
County Los Angeles
Area Glendale (91204)
Zoning Assessor
Building
Story 2
Lot Size Range 4000-7499 SF
Others
Monthly Total Fees $69
Acceptable Financing Exchange
Space Rent $1,350
Listing Terms Exchange
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Listed by Keller Williams Realty Calabasas
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