615 Columbus Ave Glendale, CA 91204

This exceptional 13-unit apartment building in Glendale, CA, presents a compelling investment opportunity. The property, comprised of twelve one-bedroom, one-bathroom units and one studio, boasts 8,602 square feet on a 18,590 square foot lot. Built in 1923 and meticulously maintained, the property features five buildings, each a single story, and offers 13 parking spaces (eight garages and five surface spaces). Recent capital improvements exceeding $700,000 encompass new electrical, plumbing, and exterior work. All units have been thoughtfully renovated, capitalizing on Glendale's strong rental market. A RUBS program is in place, resulting in a sub 30% expense ratio. The property currently generates a NOI of $320,986, with a pro-forma NOI of $368,326, representing a 5.02% cap rate and a pro-forma cap rate of 5.76%, respectively. The asking price is $6,400,000, or $492,307.69 per unit. Significant upside potential exists through the conversion of existing garage space into three additional dwelling units (ADUs), projected to yield approximately $34,605 in additional annual rental income. An assumable Freddie Mac loan at 5.18% interest is available, featuring five years of fixed financing and two years of interest-only payments remaining. This turnkey asset, located just five blocks from the Glendale Americana, offers a rare combination of strong cash flow, significant upside potential, and attractive financing terms. The property's APN is 5696-014-040.