Available for only $155,000 per unit, the property allows a new investor to capitalize on approximately 66% rent upside. Energy costs are reduced by the tankless water heaters that have been installed at the building. The current owner has also already completed all seismic retrofit repairs, benefitting a new investor by bringing the property into compliance and saving them from an otherwise costly capital expense. Situated across from Forest Lawn, near the intersection of Fletcher Drive and San Fernando Road, the building allows tenants convenient access to trendy and emerging areas such as Los Feliz, Glendale, Atwater Village, Mount Washington, and Highland Park. The high-end Americana at Brand shopping center and the recently revitalized Glendale Galleria are both within two miles, as are Griffith Park and Occidental College. The multimillion dollar North Atwater East Bank Riverway Project, which would provide a 2.2-mile pathway and connect to the Los Angeles River bike path, is just west of the property.
Days on market: 57
Listing updated: March 12, 2025 - 09:02:03
Listed by: Roderick 'Rick' Raymundo DRE #01357019 818-212-2700, Marcus & Millichap - CLAW
Source: CLAW, MLS#: CLW-X75151 Originating MLS: CRMLS
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