120 S Belmont Street,Glendale, CA 91205
Glendale, CA 91205
Description
120 S. Belmont St. checks all the boxes for investors looking for a well-maintained asset in a highly desirable rental pocket of Glendale. The property is located 1.1 miles from The Americana, Glendale Galleria, Glendale Fashion Center, & an array of dining and entertainment options in downtown Glendale (Brand Blvd). This location offers tenants walkable access to luxury retail, dining, and top-tier employers (ranging from high-powered law firms to media and healthcare companies). Offered at 5.37% CAP and 12.47 GRM on current rents, $376 per foot, and $368 per unit, the property. In addition, Glendale's pro-landlord jurisdiction allows for annual rental increases of up to 5% + CPI (currently 8.9%), versus 4% for properties subject to LA rent control (buyer to verify). Most units are large 2-bdrm. units averaging approx. 1,000 SF, featuring spacious layouts, oversized windows, and excellent natural light. The building has been well cared for and includes gated access, 8 carport parking spaces with storage lockers, and minimal landscaping for low operational overhead. With solid existing income, potential for light cosmetic improvements, and a tenant base supported by nearby law, finance, and entertainment employment hubs, 120 S. Belmont is an ideal asset for investors seeking reliable growth in one of LA's most resilient submarkets.
Details
| MLS# | 25517525 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1962 |
| Days On Site | 28 |
| Listing Provided By | Compass 310-230-5478 | Kenny Stevens |
Features
| Bed(s) | 13 |
|---|---|
| Bath(s) | 8 |
| SQ Feet | 7,853 |
| Car Port | Yes |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 1 |
| Zoning | GLR4YY |
| Acreage | 0.17 |
| Property View | None |
Market Activity 91205
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Glendale |
| Zip Code | 91205 |
| Area | 628 Glendale South of 134 Fwy |
| Listing VS Median (in 91205) | |
Price: $2,950,000 low | high Med: $895,000 SqFt: 7,853 low | high Med: 1,002 $ / SqFt: $376 low | high Med: $893 On site: 28 low | high Med: 14.000000 | |