Homes for sale - 366 W Palmer AVE, Glendale, CA 91204

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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$1,800,000

Est. payment - /mo

6,952 Sqft Lot

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UPDATED:

12/05/2024 05:29 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR24229186

HOA Y/N No

Year Built 1897

Lot Size 6,952 Sqft

Property Description

366-368 W Palmer Ave, Glendale, CA 91204 – a multifamily investment rich in both financial upside and Historical significance. This 6-unit property, located in the highly desirable Tropico neighborhood of Glendale, offers an excellent opportunity for investors seeking both stable cash flow and long-term appreciation.

Key Investment Highlights:
• Historic Significance: Constructed in 1897, this property was evaluated during the 2017 South Glendale Historic Resources Survey and recognized as a rare example of early residential development in Tropico. It’s eligible for listing in the Glendale Register under local Criterion 1, representing the earliest period of South Glendale’s
residential history, and under local Criterion 3, for its outstanding residential vernacular architecture.
”The property is not currently registered as a historic property. The new owner has the opportunity to pursue historic designation for added
recognition and potential benefits.”
• Architectural Integrity: The property retains many of its original, character-defining
features, including its two-story height, rectangular plan, hipped roof with flared and bracketed eaves, central attic dormer, and wood lap siding. These architectural elements add value and appeal, making it a unique asset in Glendale's multifamily
market.
• Value-Add Potential: In addition to its historical appeal, there is the opportunity to convert the existing garage into an (ADU's), further boosting rental income with minimal capital investment.

With its blend of historical charm, architectural integrity, and income-generating potential, 366-368 W Palmer Ave presents a unique opportunity for investors looking to capitalize on both cultural heritage and future growth.

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLR4P*

Interior

Heating None

Cooling None

Fireplaces Type None

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Suburban

Utilities Available None, See Remarks

View Y/N No

View None

Total Parking Spaces 4

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5640007005

Acceptable Financing 1031 Exchange

Listing Terms 1031 Exchange

Special Listing Condition Standard

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Listed by Akash Saini • Keller Williams Realty Calabasas • 916-704-4184

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

366 W Palmer AVE Glendale, CA 91204