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125 W Chestnut Street
USD 3,250,000
Property ID: 24413281
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125 W Chestnut Street ,91204
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icon 8848 SqFt
icon Built in 1931
icon USD 367/SqFt
icon 10 Beds
icon 15 Full
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Location Street View
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Interior Details
Bedrooms
10
Bathrooms
15
Interior Size
11120
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1931
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Detailed Introduction Of This Home
With current rents averaging only $2.02 per square foot, the property allows ample room for consistent income improvement. A new investor may be able to capture the approximately 62% rent upside more rapidly as well, as the property is granted higher allowable rent increases via AB 1482, when compared to other assets subject to more prohibitive local rent control. Situated in the heart of Glendale, near the intersection of Brand Boulevard and Colorado Boulevard, the building offers tenants numerous dining and shopping options, as reflected in its high Walk Score of 96. Between the Americana at Brand and the revamped Glendale Galleria, both just three blocks north, tenants gain convenient access to destinations such as Din Tai Fung, The Cheesecake Factory, Bacari GDL, and Bourbon Steak. Local retailers include Tiffany & Co., Nordstrom, The Apple Store, Lululemon, and Target. In addition to cash flow improvements gained through rent increases, a new owner may also benefit from the supplemental revenue streams that the building offers. The large basement could potentially be leased to tenants for extra storage income. Also, recent new leases have included tenants paying an additional $150 per month toward utility expenses, similar to a RUBS program. Applying this blueprint to other new tenants moving forward can dramatically improve the owner's income.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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125 W Chestnut Street
USD 3,250,000 10 Beds
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