PACIFICA GLENDALE is a 40-unit value-add apartment community in the highly-desirable city of Glendale, California. This offering presents a rare opportunity for investor to acquire a well located, non-rent-controlled apartment community with rental upside in one of the strongest sub-markets in the Los Angeles County. The property is a two-story garden style apartment that was built in 1956 and has undergone a partial renovation in the past several years. It is comprised of two buildings with center courtyard and situated on a large 31,005 square feet lot size. It offers an attractive unit mix of eight (8) x 1 bedroom + 1 bathroom and thirty two (32) x studio units. Each unit is separately metered for electricity. It has many amenities such as an enclosed/private pool area with a sundeck, barbecue area in the back, bike rack, security cameras, intercom and gated entrance, and two laundry facilities. It has 42 assigned open spaces parking in the front. The 2 extra parking spaces could be rented out for additional parking income. Pacificaâs unit mix is very advantageous as it serves a niche market compared to other apartments in the area. Because of the significant upward movement in rental rates due to many luxury units completed in the past 24 months, Paci
Listing provided courtesy of
, GIG Real Estate Inc.
Additional Property Details
One of the biggest cities within Los Angeles County, Glendale is an entity unto itself attracting big business, high-end shopping and a vibrant and active community.
Real Estate: Originally built out as a bedroom community with many single-family residences, Glendale real estate has expanded to include many condo and townhome developments. Neighborhoods include Adams Hill, Moorpark, Glenoaks Canyon, and Rossmoyne. Houses for sale here range from traditional Spanish and Craftsman to newer modern architecture.
Community Life: Glendale has many big city attractions. Americana at Brand offers world-class shopping and fine-dining in a luxurious outdoor setting. The retail experience goes on at the nearby Glendale Galleria and all along Brand Boulevard which is also home to the historic Alex Theater.
Education: This area is served by the Glendale Unified School District. Local elementary schools include Balboa Elementary, Cerritos Elementary, Horace Mann Elementary, and John Muir Elementary. There are three public middle schools in Glendale and two high schools as well as a continuing education high school and a home independent study program. Glendale Community College has a college-credit enrollment of about 25,000 day and evening students, and approximately 10,000 others are reached through the adult education program.
Transportation: Glendale is easily accessed by the 134, 2, and 5 Freeways. The Glendale Beeline offers transportation throughout the city. The Larry Zarian Transportation Center is an Amtrak and Metrolink rail station.
Local Attractions: Forest Lawn Memorial Park is a draw for being the resting place of many celebrities including Michael Jackson and it also features an art museum. Beautiful Brand Park includes the Brand Library &Art Center.
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