Luxury Outlook 2023
An ambitious exploration into high-end residential markets across the globe.
22-unit Spanish Colonial Revival Bungalow Court apartment on Harvard Street in Glendale, California. Built in 1925, the unit mix is 22 1-bed/1-bath units, and 20 units have been upgraded by its retired general contractor owner over the past 20 years. The building is practically always 100% occupied and tenants pay lower-than market rents. With 11,537 (approx.) sf and situated on a 23,630 (approx.) sf lot this property includes a central laundry room, 19 carports, 1 garage, and 2 storage rooms. Separately metered electric and gas, with copper plumbing, AC Wall Units, newer roofs, and easy to maintain. This property has been self managed for decades. This property offers historic value as well as investment opportunity in one of LA's most attractive rental markets with continued projections for rental growth. Located in the southern portion of Glendale, closest to commerce, and in close proximity to schools, transportation (a few blocks from the 134 and 2 fwy's), and commerce. The Zoning is R2250 - Medium Density Residential. This property is eligible for significant tax savings through Mills Act. Glendale has increasingly become an entertainment and shopping destination in Los Angeles, synonymous with high-end retail and comfortable living. The Americana at Brand is less than 1 mile away.