Sold

1530 E Broadway

Glendale CA, 91205

$5,350,000


$334.38 per sqft

Sold

32 Beds

24 Baths

16,000 sqft

Residential

Built in 1960

Listed by Sevak Keshishian with Marcus & Millichap 818-212-2700

We are pleased to present 1530 E. Broadway, a 16-unit apartment building located in the Citrus Grove neighborhood of Glendale. Built in 1960, this well maintained asset is comprised of balanced unit mix that includes (4) 1bed/1bath, (4) 2bed/1bath, (4) 2bed/2bath, and (4) 3bed/2bath units. Many of the units have received upgrades over the years that include laminate flooring, stone countertops, renovated kitchen cabinetry, bathroom upgrades and new windows. The property has gated access, on-site laundry, and 10 parking spaces. The roof was replaced in 2015 and receives annual maintenance to preserve its integrity. Tenancy at the property has been very stable over the years and current rents are about 32% below market rates. A new investor will have the ability to achieve market rents through annual rental increases (5%+ CPI) and implementing unit renovations when vacancies arise. Located just east of Verdugo Road, 1530 E. Broadway is within walking distance to Glendale High School. Tenants of the property are within a short driving distance to the shops and restaurants at Glendale Galleria, & Americana on Brand. It's proximity to the 2 and 134 freeways allows for ease of access to multiple health care centers in the city along with neighboring cities such as Eagle Rock, Pasadena, Atwater Village, Burbank, Downtown Los Angeles, and many other.

23243867

MLS ID

February 10, 2023

Listed

March 23, 2024

Updated

Map

1530 E Broadway
Glendale CA, 91205

Interior Features

Total Stories

2


Bedrooms

32 Beds


Bathrooms

24 Baths


Appliances

Microwave, Refrigerator


Laundry Description

Common Area


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.33 Acres

Other Property Details

Area Name

628 - Glendale-South of 134 Fwy


Days on Market

197


Garage

No


Parking

One Space


Parking Total

10


View

No


County

Los Angeles


Water Source

Public


Pool

No


Zoning

R2250


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

10/3/2023

Price Change

$5,350,000

-7%

10/3/2023

Sold

$5,350,000

8/29/2023

Pending

6/23/2023

Price Change

$5,700,000

-2%

Listing Contact: 818-212-2700 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:32 AM UTC

 

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