401 Raymond, Glendale CA 91201 | $4,250,000

401 Raymond Ave, a 14 unit apartment building located in Glendale, a neighborhood in the San Fernando Valley. Built in 1964, the property consists of(3) one-bedroom + one-bathroom units, (10) two-bedroom + one-bathroom units and (1) two-bedroom+ two-bathroom units. The building is 13,863 gross square feet and sits on a 16,940 square foot lot.401 Raymond Ave is located on a charming, tree-lined street in Glendale. There is no shortage of activities to explore in the area. From shopping at the Burbank Town Center or Glendale Galleria to exploring Griffith Park and Stough Canyon, just a few miles away.Glendale lies at the eastern end of the San Fernando Valley, the location provides convenient access to the 134 and 5 freeways, further extending the area's connectivity to the rest of Los Angeles.401 Raymond Ave represents a unique value-add opportunity for investors due to the property's location and rental upside. The property offers a initial CAP rate of 3.99% with the ability to improve to a6.35% CAP rate once units turnover.

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