FOR SALE
559 Glenwood Rd
Glendale, CA 91202
Glenwood
13 Beds
8 Baths
6,642 sqft
- 13 Beds
- 8 Baths
- 6,642 sqft
13 Beds
8 Baths
6,642 sqft
Local Information
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Commute Destination
Description
559 Glenwood Rd is a seven-unit multifamily property stands out as a rare find in a sought-after residential area, promising both stability and growth potential for investors.Located on the strategic corner of Clement Dr & Glenwood Rd, the property benefits from its proximity to key educational institutions and is nestled in an affluent neighborhood that boasts a high average household income. Its accessibility to Downtown Glendale, major shopping centers like the Glendale Galleria, and essential freeways positions it as an ideal residential choice for a wide range of tenants.The building is currently fully occupied, featuring a mix of one single and six two-bedroom units with six parking garages, each with dedicated parking. Recent rent adjustments have been implemented, affirming the property's strong income generation capability. Despite its well-maintained status, highlighted by quality interior finishes such as hardwood flooring and recessed lighting, the property offers significant upside potential. With most units rented below market rates, strategic upgrades and unit turnovers could lead to an increase in rental income by over 45%.Offered at a competitive price per unit and per square foot, this investment presents a rare opportunity to enter or expand in the Glendale market. The combination of its location, full occupancy, and untapped value-add potential, set against a backdrop of limited market inventory, makes it a compelling choice for those looking to invest in a thriving residential rental market.
Home Highlights
Parking
Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$361
Listed
30 days ago
Home Details for 559 Glenwood Rd
Interior Features |
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Beds & Baths Number of Bedrooms: 13Number of Bathrooms: 8 |
Dimensions and Layout Living Area: 6642 Square Feet |
Heating & Cooling Heating: WallHas CoolingAir Conditioning: Wall Unit(s)Has HeatingHeating Fuel: Wall |
Levels, Entrance, & Accessibility Stories: 2Levels: Two |
Exterior Features |
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Exterior Home Features Other Structures: None |
Parking & Garage No CarportHas a GarageNo Attached GarageParking Spaces: 6Parking: Garage |
Days on Market |
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Days on Market: 30 |
Property Information |
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Year Built Year Built: 1952 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Price & Status |
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Price List Price: $2,400,000Price Per Sqft: $361 |
Active Status |
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MLS Status: Active |
Location |
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Direction & Address City: Glendale |
Agent Information |
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Listing Agent Listing ID: 24-374047 |
Building |
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Building Area Building Area: 6642 Square Feet |
Lot Information |
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Lot Area: 10506.672 sqft |
Listing Info |
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Special Conditions: Standard |
Compensation |
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Buyer Agency Commission: 1.5Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Miscellaneous |
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Mls Number: 24-374047 |
Last check for updates: 1 day ago
Listing courtesy of Neema Ahadian DRE # 01346750, (310) 909-5444
Marcus & Millichap, (310) 909-5500
Source: CLAW, MLS#24-374047
Price History for 559 Glenwood Rd
| Date | Price | Event | Source |
|---|---|---|---|
| 03/28/2024 | $2,400,000 | Listed For Sale | CLAW #24-374047 |
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Property Taxes and Assessment
| Year | 2023 |
|---|---|
| Tax | $9,775 |
| Assessment | $800,208 |
Home facts updated by county records
Comparable Sales for 559 Glenwood Rd
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.38 | Multi-Family Home | $1,750,000 | 10/24/23 | 11 | 6 | 4,138 | |
0.65 | Multi-Family Home | $4,750,000 | 05/01/23 | 16 | 16 | 8,494 | |
0.45 | Multi-Family Home | $2,750,000 | 05/30/23 | 10 | 9 | - | |
1.09 | Multi-Family Home | $3,065,000 | 12/06/23 | 16 | 8 | 7,793 | |
0.85 | Multi-Family Home | $1,475,000 | 01/19/24 | 6 | 6 | 4,713 | |
1.15 | Multi-Family Home | $2,430,000 | 05/23/23 | 11 | 10 | 6,112 | |
1.27 | Multi-Family Home | $2,490,000 | 06/16/23 | 10 | 11 | 6,518 | |
0.43 | Multi-Family Home | $1,355,000 | 05/12/23 | 5 | 4 | - | |
1.41 | Multi-Family Home | $2,025,000 | 10/16/23 | 6 | 9 | 6,564 |
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Glenwood
- Trulia User
- Resident
- 1y ago
"Friendly area. Owners pick up after then & keep on leads. Would like a new dog park to be built here. "
- Trulia User
- Resident
- 2y ago
"I love how green and clean our streets are. The neighborhood is also accessible to freeways, without being to close to it. Schools are a few blocks away! "
- Trulia User
- Resident
- 2y ago
"Very lovely homes, parks, mountains for hiking, with views of the valley and studios. Quiet at night, safe during all hours. Lots of exotic cars around."
- Edwin C.
- Resident
- 3y ago
"I've lived here forever so I think it is a great place to raise a family and ensure that you get the best quality of life. "
- Nick
- Resident
- 3y ago
"I commute all over the city. This neighborhood is very central to most of my locations. I really really like it very much. This feel safe and friendly and very neighborly. It’s better then living in Los Angels "
- Ryan W.
- Resident
- 4y ago
"People are friendly and welcoming. Dogs are always leashed and well behaved or the owners manage them. Traffic is a concern on the major thoroughfares. "
- Cloudin k.
- Resident
- 5y ago
"They are friendly if we keep a dog it will be much better. Every neighborhood is friendly and its a safe place"
- Andrearabbate
- Resident
- 5y ago
"beautiful old houses of many different styles and well kept yards. Friendly people and a nearby park. Also very close to Kenneth Village."
- Charles
- Resident
- 5y ago
"People are nice, they say hi. And the homes are nice. Plus we can walk to a nice shop area and have coffee, etc."
- Charles
- Resident
- 5y ago
"Quiet and really nice neighbors. Easy to walk to the coffee place. No helicopter noises all the time like in Los Angeles."
- Mike a. T. C.
- Resident
- 5y ago
"It has an interesting but attractive mix of urban and suburban features. This is based on my experience living here for over a year. "
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Neema Ahadian, Marcus & Millichap
© 2024 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2024-01-24 14:45:40 PST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.