PACIFICA GLENDALE - 40-Units

Prime Value Add with ±36% total upside, Excellent Location with High Walk Score

Very Attractive CAP Rate with High Proforma CAP Rate; Non Rent Controlled

INVESTMENT HIGHLIGHTS

• Attractive value add deal with an ±36% total upside
• Superb location in Glendale; between Pacific Ave and Central Ave with a high (85) walkability score
• Less than a mile away from Glendale Central Business District
• NON-rent-controlled; Offers an advantageous unit mix
• Attractive Actual CAP Rate with high Proforma CAP Rate
• Opportunities to add value through 4 units that have not been upgraded and 26 units that have been partially upgraded
• Superb access to all amenities the City of Glendale has to offer
• Minutes away from Glendale Galleria, Americana at Brand, and within walking distance to many retailers in north Glendale (Trader Joe’s, Equinox, Hilton, Embassy Suites, etc.)
• Excellent access to FWY 134, FWY 5, and FWY 2
• Good demographics with ±$83,000 average household income within a mile radius

PROPERTY HIGHLIGHTS

• Partially upgraded property with no known deferred maintenance
• Opportunity to complete the renovation in original (4-units) and partially upgraded (26-units) units
• Proven built-in rent comparable for upgraded units
• Large lot size with ample parking spaces
• Low vacancy history property with easy to rent units due to its superb location and condition
• Excellent amenities: swimming pool, sundeck, secured entrance with intercom, barbecue area, shared laundry rooms, bike rack, quiet and tranquil center courtyard
• Unit amenities: split HVAC system, double pane windows, upgraded flooring, upgraded kitchen, upgraded bathroom, dishwasher, disposal, stainless-steel appliance, custom designer paint, cable ready, and much more