Price
$ 3,895,000
New!

221 227 W Dryden Street, Glendale, CA 91202  

221 227 W Dryden Street, Glendale, CA 91202  

12 apartment units on 2 of 3 adjacent R-1250* zoned lots, the 3rd lot being vacant valued $1,000,000, with alley access, totaling 24,722* SF in prime North Central (above Glenoaks Blvd.) none rent control city. With 150* ft. frontage current city ordinance allows 1 dwelling unit per 1,000* SF of land providing the possibility of developing 24* Condos/Apartments units on the 3 lots. Opportunities are; (i) hold the 12 x 2 bdrms 1 bath units (8 x TH style & 4 x one level with individual Water Heaters & W/D Hookups) and sell or develop 6 uts on the vacant lot, or (ii) enjoy the existing income to later develop 24* units on all 3 lots. The 5 buildings existing 12 units being 10,672* SF (built in 1927*) are on 16,496* SF double lots are at 221-223 W. Dryden St. and the 3rd vacant parcels of 8,266* SF at 227 W. Dryden St. The current monthly rents range from $1,100 to $1,445 per unit, all on month-to-month bases, are significantly low. The location is affluent rental part of the city, market monthly rent for similar units in the area range between $1,650 to $1,750. See I/E details on the attached OM. MUST NOT ENTER PROPERTY OR CONTACT TENANTS, DRIVE BY ONLY PLEASE. *obtained from Los Angeles County Recorder records, city of Glendale.

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Listing Type
Multi-Family
Listing ID
316010830
Lot Size
0.38 acres
Listing Status
Active
Year Built
1927
County
Los Angeles
Floors
0
Units
12
Zoning
Glendale-R1250
TaxID
5636011045
Listing courtesy of Norick Toomanian~Keller Williams R.E. Services
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    Listing Information Provided By:
    RE/MAX TRI-CITY REALTY
    1433 Foothill Blvd La Canada Flintridge, CA 91011 | Phone: (818) 790-9700
    RE/MAX TRI-CITY REALTY is licensed in the state of California CalBRE License #: 01038441
    EACH OFFICE INDEPENDENTLY OWNED AND OPERATED.