Pleased to present 3549 Montrose Avenue, a six-unit multifamily property located in the Crescenta Highlands neighborhood of Glendale, adjacent to both La Crescenta and Montrose. Offered for sale for the first time in 57 years, this property represents a rare, stabilized investment opportunity in north Glendale where multifamily properties rarely transact. Constructed in 1964, this property is comprised of one 4-bedroom/2-bathroom unit, one 3-bedroom/2-bathroom unit, and four 2-bedroom/1 -bathroom townhouse units. The average unit size is 1,200 square feet, offering spacious floorplans suitable for family living, and all units have been renovated at different dates over the last six years. Each unit is also equipped with in-unit washers and dryers, central or split-system HVAC, individual water heaters, and separate meters for gas and electricity. Multiple units have private patios, and all units can enjoy the common area outdoor seating. Most of the units have had their electrical panels upgraded. 3549 Montrose Avenue is an ideal choice for investors seeking a well-maintained, stabilized property with the opportunity to capture over 20% rental upside through interior and exterior renovations. The property's value is further solidified by its R3050 zoning, which only allows for a future development of 4 units on this 12,479 square foot lot. The property includes a third structure which provides tenants with four covered car ports, a single private garage, and storage cabinets. The 4-bedroom unit has its own two-car private garage and there is ample street parking for multiple vehicles. There are also four 240-volt outlets and two 120-volt outlets provided for tenants to install their own EV charging units. The sewer line has been replaced, the property has been replumbed to copper piping, and one of the structures has a newer roof. Situated north of Honolulu Avenue and west of New York Avenue, 3549 Montrose Avenue is conveniently located a couple blocks from the Pennsylvania Avenue exit off the 210 Freeway, offering commuters ease of access to the freeway. Moreover, the property is within a short distance from Montrose Village Square along Honolulu Blvd. and is Montrose's historic Main St. with over 200 independently owned local businesses that offer shoppers high quality gifts, retail merchandise, casual and fine dining, and much more. The property's proximity to this area ensures a high demand for rental units in one of Glendale's most sought-after neighborhoods.

Listed By CRMLS_CA / Sevak Keshishian / Marcus & Millichap

Last checked: Checking… • Last updated Mar 18, 2024 • Source: CRMLS_CA

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