Skip To Content

    1046 & 1050 Western Ave

    Glendale, CA 91201
    • $2,200,000
    • STATUS: Active
    • ON SITE: 143 days
    • ID#: GD20247436
    UPDATED: 29 min ago
    $2,200,000
    • 0
      BEDS
    • 0.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,744
      SQFT
    • $802
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1941
    County:

    School Ratings & Info

    Description

    We are pleased to present 2 adjacent lots in the City of Glendale, which include a 3-Unit Property and an adjacent Single Family Residence just south of Glenoaks Boulevard on Western Avenue. The Triplex is located at 1046 Western Avenue, and has 2 units towards the rear, which are fully occupied and a separate house in the front which is currently inhabitable and in need of major repair or teardown. The adjacent parcel, located at 1050 Western Avenue, includes a 2-bedroom 1-bathroom Single Family Residence, which is currently occupied by a long-term tenant on a month to month lease.According to public data, the parcels total 15,185 square feet, with dimensions of 97 wide by 159.37 deep. The zoning of the property is R2250, which is a Glendale Medium Density Zoning. According to Glendale municipal code, lots which have a width of 90 feet or greater can calculate 1 dwelling unit for each 1,800 square feet of land. Based on our translation, a developer can build a total of 8 dwelling units on these two lots. All Buyers are encouraged to conduct their own investigation and should not rely solely on this data for investment or future development purposes.The property is currently generating income of $4,100 per month. A developer can purchase this property and have income to support holding costs while going through the entitlement process. That in conjunction with the superior location of this asset, makes this offering truly a compelling property in todays market.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-20T21:29:11.763. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.
    www.zemberrealtygroup.com/homes/112245453
    Print Image

    1046 & 1050 Western Ave Glendale, CA 91201

    • Price: $2,200,000
    • Status: Active
    • Updated: 29 min ago
    • ID#: GD20247436
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.35
    Acres
    2,744
    SQFT
    $802
    $/SQFT
    1941
    Built
    Neighborhood:
    626 - Glendale-Northwest
    County:
    Los Angeles
    Area:
    626 - Glendale-Northwest
    Property Description
    We are pleased to present 2 adjacent lots in the City of Glendale, which include a 3-Unit Property and an adjacent Single Family Residence just south of Glenoaks Boulevard on Western Avenue. The Triplex is located at 1046 Western Avenue, and has 2 units towards the rear, which are fully occupied and a separate house in the front which is currently inhabitable and in need of major repair or teardown. The adjacent parcel, located at 1050 Western Avenue, includes a 2-bedroom 1-bathroom Single Family Residence, which is currently occupied by a long-term tenant on a month to month lease.According to public data, the parcels total 15,185 square feet, with dimensions of 97 wide by 159.37 deep. The zoning of the property is R2250, which is a Glendale Medium Density Zoning. According to Glendale municipal code, lots which have a width of 90 feet or greater can calculate 1 dwelling unit for each 1,800 square feet of land. Based on our translation, a developer can build a total of 8 dwelling units on these two lots. All Buyers are encouraged to conduct their own investigation and should not rely solely on this data for investment or future development purposes.The property is currently generating income of $4,100 per month. A developer can purchase this property and have income to support holding costs while going through the entitlement process. That in conjunction with the superior location of this asset, makes this offering truly a compelling property in todays market.
    Exterior Features

    Lot Features Rectangular LotStreet Level Number Of Separate Electric Meters 4 Open Parking Spaces 8 Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 1 Common Wall

    Property Features

    Additional Parcels YN Yes Cap Rate 0.81 Common Interest None Community Features Urban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 49200 Gross Scheduled Income 49200 Insurance Expense 2500 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Net Operating Income 18491 New Construction YN No New Taxes Expense 23709 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 2 Operating Expense 30709 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public

    Listing provided courtesy of Krikor Garabedian of Keller Williams R.E. Services and Kimberly Ann Meyer of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-20T21:29:11.763. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.
     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_364992400-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_364992400-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_364992400-1.jpg
    Logo
    Zember Realty Group
    1125 Linda Vista Dr.
    San Marcos CA, 92078