We are pleased to announce the opportunity to purchase 1027 Grover Avenue, an 8-unit multifamily property in the Grandview neighborhood of Glendale, CA location. Available for the first time in almost 20 years, this property provides a tremendous opportunity for an investor to acquire a pride of ownership asset in one of the most desirable neighborhoods in Glendale. This property is truly an irreplaceable asset as the zoning for this parcel, R1, will not allow any future multifamily development opportunity. The property is comprised of a two-story structure that includes eight large 2 bed/1 bath units, one of which is approximately 1,100 square feet (Buyer to verify). On average, the unit sizes are approximately 975 square feet and all units come with a fireplace in the living room. The property provides tenants with ten parking spaces that include a combination of private car garages, surface parking, and tuck-under car ports in the rear of the property. There is a large on-site laundry room, very minimal landscaping, and all units are individually metered for gas and electricity. Buyers might explore the opportunity to convert the laundry room and private garage into an ADU. The property has been very well maintained, yet there is still an opportunity for the implementation of interior & exterior renovations and a RUBS program that can dramatically boost future rental revenue and income streams, raising the overall value of the investment.Located at just east of Sonora Avenue, 1027 Grover is located in between Glenoaks Boulevard and San Fernando Boulevard, two of Glendale’s main thoroughfares. Residents of this property are within walking distance to multiple bus stops located on Glenoaks and San Fernando Boulevards as well as Jefferson Elementary School. Glenoaks Boulevard is lined with many restaurants, retail shops and businesses and the provides tenants with ease of access to larger retail centers located at Glendale Galleria, The Americana of Glendale, The Burbank Town Center, and Empire Center of Burbank. The proximity to the 134 and 5 Freeways will provide tenants with an easy commute to nearby neighborhoods such as Burbank, Eagle Rock, Los Feliz, Downtown Los Angeles, Pasadena, and all areas of San Fernando Valley.
