UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 5,502 sqft
Price per Sqft $471
MLS Listing ID GD-26136915
Year Built 1947
Lot Size 10,303 Sqft
Property Sub-Type Commercial/Residential
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Exceptional investment opportunity in tightly held Montrose. Charming 1947 3-structure property on a large 10,303 sq ft lot (LCR3 zoning, APN 5807-016-046) offers timeless architecture, strong income, and major upside. Blocks from Honolulu Ave shops/dining.
Appx 5,502 sq ft (buyer verify), 11 units (mostly 1BD/1BA + 2BD owner's w/ patio/garage). 8 parking, master metered.
Proven Income + Huge Upside:
Current 2026 rent roll: $17,177/mo ($206,124 annually).
Vacant Unit gutted basement projected at $2,000/mo Stabilized Gross: Appx. $230,124/year.
GRM at $2,595,000 list: 11.28 (excellent for value-add).
Game-Changing Financing: Huge opportunity to assume existing loan at 3.64% (through November 2028). Creates significant positive cash flow from day one while executing value-add and ADU conversions—locking in low-cost capital in today's rate environment.
Massive Growth Potential:
ADUs: Up to 3 additional units via conversions of existing space (basement + subdivided areas) per CA/LA County rules.
Large lot supports future condo development/density.
Upgrade units for market rents + legalize non-conforming for transformative returns. Units lease fast here.
Premier Location & Schools: Top-rated Glendale Unified (Crescenta Valley HS A+, excellent elementaries). Perfect for families/long-term tenants.
Amazing Opportunity at $2,595,000: Immediate cash flow via assumable low-rate loan, rapid leasing, beautiful architecture, and layered upside rarely found in Montrose. Buyer verify all.
Contact for tour, rent roll, pro forma, loan assumption details & ADU plan. Move fast—this won't last!
Location
State CA
County Los Angeles
Area 635 - La Crescenta/Glendale/Montrose/Sparrhgts
Zoning LCR3YY
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Flooring Laminate
Laundry Common Area
Exterior
Parking Features Garage - Single Door, Parking Space, Attached Carport, Covered, Direct Garage Access, Driveway
Garage Spaces 1.0
Pool None
Community Features Sidewalks, Street Lights
Building
Lot Description Lot 10000-19999 Sqft
Sewer Public Sewer
Nearby Locations
GET MORE INFORMATION
John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900