120 S Belmont Street Pending Save Request In-Person Tour Request Virtual Tour
Glendale,CA 91205
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 7,853 sqft
Price per Sqft $375
MLS Listing ID CL25517525
Year Built 1962
Lot Size 7,498 Sqft
Property Sub-Type Other
Property 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 reli
Location
State CA
County Los Angeles
Zoning GLR4
Interior
Heating Wall Furnace
Laundry Community Facility
Exterior
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Building
New Construction No