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447 W Elk Ave 16 Unit Apartment Building $7,740,067 CAD ($483,754 CAD/Unit) 4.80% Cap Rate Glendale, CA 91204
INVESTMENT HIGHLIGHTS
- Excellent Southwest Glendale Location
- Upgraded Throughout
- Large Units
- CA AB 1482 Applies
EXECUTIVE SUMMARY
Huge price reduction. Motivated Seller. Bring All Reasonable Offers. The Elk Apartments is a well maintained property located in the City of Glendale. The property is located in South Glendale in very close proximity to The Galleria and The Americana at Brand. It presents a reposition opportunity as there is approximately 10% upside in rents with an excellent unit mix.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$557,384
|
$43.87
|
| Other Income |
$2,490
|
$0.20
|
| Vacancy Loss |
$16,796
|
$1.32
|
| Effective Gross Income |
$543,079
|
$42.75
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$171,533
|
$13.50
|
| Net Operating Income |
$371,545
|
$29.25
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $557,384 |
| Annual Per SF | $43.87 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,490 |
| Annual Per SF | $0.20 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $16,796 |
| Annual Per SF | $1.32 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $543,079 |
| Annual Per SF | $42.75 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $171,533 |
| Annual Per SF | $13.50 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $371,545 |
| Annual Per SF | $29.25 |
PROPERTY FACTS
| Price | $7,740,067 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $483,754 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 4.80% | Building Size | 12,704 SF |
| Gross Rent Multiplier | 13.82 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.34/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4 | ||
| Price | $7,740,067 CAD |
| Price Per Unit | $483,754 CAD |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| Gross Rent Multiplier | 13.82 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 12,704 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | R4 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $2,898 CAD | - |
| 2+1.5 | 4 | $3,313 CAD | - |
| 2+2 | 4 | $3,452 CAD | - |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 5696-003-026 | Improvements Assessment | $2,406,530 CAD |
| Land Assessment | $3,609,798 CAD | Total Assessment | $6,016,328 CAD |
PROPERTY TAXES
Parcel Number
5696-003-026
Land Assessment
$3,609,798 CAD
Improvements Assessment
$2,406,530 CAD
Total Assessment
$6,016,328 CAD
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447 W Elk Ave
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