Description
We are pleased to present The Belmont Plaza Condos, a rare 26-unit multifamily investment opportunity located at 201 N Belmont Street in the heart of Glendale, California being offered for acquisition for the first time in 4 decades. Originally built as condominiums, the property offers a level of scale, unit size, construction quality and long-term optionality that is exceptionally difficult to replicate in today’s market. The asset totals approximately 37,295 square feet, with an average unit size of roughly 1,434 square feet, giving investors a highly differentiated rental product in one of Los Angeles County’s most supply-constrained and desirable apartment markets. With he highest allowable rent increases in the states an offered below replacement cost at only $332/ sf , the offering will suit a wide range of capital requirements. The unit mix is heavily weighted toward very large large two- and three-bedroom floor plans, with all units featuring washer and dryer hookups, private balconies or patios, generous layouts and strong resident appeal. Current rents are significantly below comparable market levels on a rent-per-square-foot basis, creating a clear path to income growth while maintaining the stability and desirability of a larger-unit Glendale asset. The location is one of Belmont Plaza’s strongest attributes. Residents benefit from a 93 Walk Score and immediate access to some of Glendale’s most sought-after retail, dining and lifestyle amenities, including Erewhon, Whole Foods, The Americana at Brand, Glendale Galleria, Porto’s, Nordstrom Rack and Brand Boulevard. Recent capital improvements include a new roof with warranty and new sewer lines, providing investors with added confidence in the asset’s physical condition. With its condominium-built design, oversized units, exceptional walkable location, strong in-place income and meaningful embedded rent growth, The Belmont Plaza Condos represents a generational opportunity to acquire a trophy Glendale multifamily asset with both immediate cash flow and long-term appreciation fundamentals and multiple exit scenario potential. ** For offering memorandum and tour dates, contact listing agent ** Some images digitally altered/staged. 25+1n.c.. You are always instructed to consult your tax, legal and financial advisors, information from reliable sources however no promises to accuracy of information, buyer/broker to verify condo feasibility.
Details
| MLS # | SR26141166 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1985 |
| Days On Site | 52 |
| Listing Provided By | Keller Williams World Media Center | Levon Alexanian |
Features
| SQ Feet | 37,295 |
|---|---|
| Pool | Yes |
| Story(s) | 3 |
| Units | 26 |
| Building(s) | 1 |
| Acreage | 0.52 |
Interior
| Heating | Forced Air |
|---|---|
| Heating Yes / No | Yes |
Exterior
| Lot Features | Twenty Six To Thirty Units Acre |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Private Sewer |
|---|
Location
| Community Features | Curbs |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Glendale |
| Zip Code | 91206 |
| Area | 628 Glendale South of 134 Fwy |
| Listing VS Median (in 91206) | |
Price: $12,400,000 low | high Med: $2,587,000 sqft: 37,295 low | high Med: 7,138 $ / sqft: $332 low | high Med: $362 On site: 52 low | high Med: 84 | |
Market Activity 91206
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Glendale |
| Zip Code | 91206 |
| Area | 628 Glendale South of 134 Fwy |
| Listing VS Median (in 91206) | |
Price: $12,400,000 low | high Med: $2,587,000 sqft: 37,295 low | high Med: 7,138 $ / sqft: $332 low | high Med: $362 On site: 52 low | high Med: 84 | |