California Court 615 S Columbus Ave Immeuble residentiel 13 lots 5 529 472 € (425 344 €/Lot) Taux de capitalisation 5,16 % Glendale, CA 91204

California Court, located at 615 S Columbus Avenue, is a beautifully restored 13-unit California bungalow-style apartment complex. The courtyard property sits just five blocks from the Glendale Americana. The current owner has invested over $900,000 in capital improvements, including upgrades to electrical systems, plumbing, and exterior enhancements.

The property comprises 12 one-bedroom, one-bathroom units and one studio, all of which have been meticulously renovated to meet the strong demand for tenants in the area. A RUBS (Ratio Utility Billing System) program has been implemented across all units, optimizing operational efficiency and maintaining an expense ratio of under 30% for future ownership.

Additional income is generated through eight garages and five surface parking spaces, which also offer the potential for conversion into three ADUs, projected to bring in approximately $34,605 in additional annual rental revenue. With strategic investment in ADU construction and market rent adjustments, a new owner could achieve an exceptional return on cost of nearly 270%.

California Court is ideally situated on a quiet palm-lined street in the Pacific-Edison neighborhood near Griffith Park. The property is within walking distance to Glendale Galleria, The Americana, and the Downtown Glendale Business District. This apartment community offers easy access to Interstate 5, making travel to other Los Angeles hotspots convenient. Additionally, residents are just blocks away from Atwater Village and Los Feliz neighborhoods, and only 10 minutes from DTLA, Burbank, Pasadena, and Hollywood.