414 W Maple Street

Description

We are pleased to announce the opportunity to purchase 414 W. Maple St., an 8-unit multifamily property in the Pacific-Edison neighborhood of southwest Glendale. Available for the first time in 38 years, this value-add opportunity will allow an investor to capture over 42% in rental upside through implementation of interior and exterior renovation program. This property is truly an irreplaceable asset as the zoning for this parcel, R2250, will only allow a future 3-unit multifamily development opportunity. Built in 1964, the property is comprised of a two-story structure that includes six 2 bed/1 bath units and two 1 bed/1 bath units. The property provides tenants with ten parking spaces that include a combination of carport, tuck-under spaces at the rear of the property. There is minimal landscaping, and all units are individually metered for gas and electricity. Buyers might potentially explore the opportunity to convert the tuck under parking spaces into an ADU for additional revenue streams. Located west of Central Ave, 414 W. Maple St. is located in-between Columbus Ave. and Pacific Ave. and is within proximity to three of Glendale's main thoroughfares, San Fernando Rd., Central Ave, and Brand Blvd. Residents of this property are a short distance to multiple bus stops located on Pacific and San Fernando as well as Edison Elementary School. There area is filled with many restaurants, retail shops and businesses and the provides tenants with ease of access to larger retail centers located at Glendale Galleria, The Americana of Glendale, and the Los Feliz Shopping Center that includes tenants such as Costco, Best Buy, Panda Express, Starbucks, Wells Fargo, Chase, T-Mobile, Verizon and many more. The property is within a short distance to the 134 and 5 Freeways will provide tenants with an easy commute to nearby neighborhoods such as Burbank, Eagle Rock, Los Feliz, Downtown Los Angeles, Pasadena, and all areas of San Ferando Valley.