Residential Income Details
We are pleased to introduce ELEVEN57, a rare re-positioned non-rent controlled 18 unit trophy multifamily asset. Comprised of all 2+2.5 T.H. units with individual washer & dryer, updated interiors, and modern exterior detail commanding strong street presence. ELEVEN57 incorporates a host of capital improvements such as solar panels on the rood, poly-u coated roof, new intercom system, new gates & railing, signage throughout, new irrigation and landscaping. Property was built 1986 and modernized recently. By capturing loss to lease upside in rents, ELEVEN57 translates into a 4.4% CAP rate. Each unit also encompass fireplaces, fenced private patios, open floor layouts, stainless steel appliances, dedicated gated parking spaces. ELEVEN57, located at 1157 Alameda Ave Glendale, CA 91201, the asset is in the prime part of the city, north of Glenoaks Blvd and on the last block before transitioning to strictly single family opens. The offering also sits at the midpoint to both downtown Glendale & Burbank. The dynamic location between two affluent cities provide both strong workforce with premiere shopping, dining and entertainment options. Within 2 blocks, tenants can walk to nearby grocery stores and several local restaurants.
|Number of Units||18|
|Listing Brokerage||Keller Williams World Media Ce|
|Listing Agent||Levon Alexanian|
|Listing Agent BRE #||00911091|
Based on information from California Regional Multiple Listing Service, Inc. as of Thursday, July 12, 2018.
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