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Key Details
Sold Price $1,575,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR25111469
Sold Date 06/20/25
Bedrooms 3
Property Sub-Type Res Income 2-4 Units
Property Type Res Income 2-4 Units
Property Description
We are pleased to present 366 W. Palmer Ave., Glendalea well-maintained 6-unit property with 20% upside potential, making it a prime value-add opportunity in one of San Fernando Valleys strongest rental submarkets of Glendale . This property features a desirable unit mix with significant income growth potential, supported by recent capital improvements, including a brand-new roof on the rear building, updated electrical main panel and subpanels, new copper plumbing, and new asphalt and concretereducing future maintenance costs. Strategically located in a high-demand rental market, the property benefits from proximity to employment hubs, shopping centers, and major transportation corridors. With Glendale experiencing strong rent growth, this is an excellent investment for those seeking long-term appreciation and income stability. Additionally, three units offer room for interior upgrades, providing investors with the opportunity to increase rental income and capitalize on the continued demand for quality housing in the San Fernando Valley. Further enhancing its value-add potential, buyers can also explore converting the existing garages into two additional 1-bedroom units, creating even greater income potential. Dont miss this exceptional investment opportunity!
Location
State CA
County Los Angeles
Zoning Assessor
Direction San Fernando Rd. & South of Chevy Chase Dr
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5640007005
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Bought with General NONMEMBER NONMEMBER MRML
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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