Glendale Multifamily Property Sells for $2.52 Million

A 5-unit multifamily property in Glendale, CA, was sold for $2.52 million.

By on Mar 8, 2020
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Glendale Multifamily Property Sells for $2.52 Million

In a recent transaction in the Glendale real estate market, a 5-unit multifamily property located at 3353 Montrose Ave has been sold for 2.52 million. The property, spanning 7,594 square feet, was sold at a price per unit of 504,000. The sale took place on March 6, 2020, with a price per square foot of $331.84. The buyer, represented by Greg Alexanian, a well-known broker in the Los Angeles real estate market, acquired the property from the seller.

Located in the heart of Glendale, the property offers a prime investment opportunity. With a total of 5 units, the property provides a steady stream of rental income. The units are well-maintained and offer comfortable living spaces for tenants. The property’s location in Glendale, a highly desirable area in Los Angeles County, adds to its appeal.

Greg Alexanian, the broker representing the buyer, has a strong track record in the Los Angeles real estate market. With extensive knowledge of the local market and a wide network of contacts, Alexanian is known for his ability to identify lucrative investment opportunities. His expertise in multifamily properties makes him a sought-after broker in the region.

The seller of the property, whose identity has not been disclosed, has successfully completed a profitable transaction. The sale of the property at a price of 2.52 million reflects the strong demand for multifamily properties in Glendale. The seller's decision to list the property at a price per square foot of 331.84 indicates confidence in the market’s potential for growth.

The Glendale real estate market has been experiencing steady growth in recent years. The city’s proximity to Los Angeles and its vibrant community make it an attractive location for investors. The demand for rental properties in Glendale remains high, driven by a strong job market and a growing population.

Overall, the sale of the 5-unit multifamily property in Glendale for $2.52 million is a testament to the strength of the local real estate market. With the guidance of brokers like Greg Alexanian, investors can find lucrative opportunities in this thriving market.