I'm excited to share the successful sale of a Glendale apartment building, a property that had not been sold since its construction in 1987. It was an honor to represent the heirs of the original builder, who entrusted me with the sale after interviewing 3 of the top brokers in the area. Our strong relationships with buyers and agents in the area, coupled with our recent success selling two nearby 1980s-built apartment complexes, gave us an edge. We had already researched and connected with buyers who were interested in similar properties, which positioned us perfectly for this sale. This property sold for $83,900 above the asking price and $211,900 more than the highest valuation proposed by a competing brokerage firm. The final sale achieved an impressive 16.28 GRM and a 4.03% Cap Rate, with a per-unit price of $451,000—demonstrating its exceptional investment potential. Interestingly, the buyer was one of the runners-up from a previous Glendale transaction which I had listed and sold. We secured favorable terms for the seller, including no termite clearance, no home warranty, and no required repairs, ensuring a smooth process and maximizing net proceeds with minimal hassle or delays. Our strategic marketing campaign created immediate interest, resulting in an offer within hours of listing the property—proof of the effectiveness of our approach.  The transaction was seamlessly managed by my team and I, ensuring the successor co-trustees could focus on their priorities while we handled the details. The sale closed on schedule, allowing the sellers to move forward with their future plans, taking full advantage of the current market conditions.

Transaction Highlights

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Investment Highlights

• First Time Property is Being Offered For Sale in Over 37 Years! | Newer 1987 Construction
• Spacious 2- and 3-Bed Units in Prime Glendale | High Demand Rental Market | Historically Low Vacancy Pocket
• Excellent Unit Mix: (TWO) 3 Bed + 2 Bath, (TWO) 2 Bed + 2 Bath & (TWO) 2 Bed + 1.5 Bath Units
• All Units Have Central A/C | Separately Metered for Gas & Electricity | Additional Income From On-Site Laundry Room
• Property Has an Updated Roof (2021) | Secured Parking & Secured Entry | Covered Parking Spaces
• Attractive Current Cash Flow with Rental Upside Potential | 4 of 6 Units are Eligible for Rent Increases
• 94 Walk Score | Walkers Paradise | Walking Distance to the Retail Corridor of E Colorado St & S Glendale Ave