Glendale Multifamily Property Sells for $4.06M, Represented by Greg Alexanian
457 W Dryden St in Glendale sells for highest price per unit before and since COVID for similar vintage.
Greg Alexanian of Alexanian Advisors recently represented both the seller and buyer in the sale of a multifamily property located at 457 W Dryden St in Glendale for 4,060,000. The property, which has a total square footage of 9,539 and a price per square foot of 425, achieved the highest price per unit before and since COVID for similar vintage. The current Alexanian Glendale/Burbank inventory is valued at $22,000,000.
The property is located in the city of Glendale, which is part of the Los Angeles metropolitan area. Glendale is known for its vibrant downtown area, which features a variety of shops, restaurants, and entertainment options. The property is situated in a residential neighborhood, but is still within close proximity to the downtown area.
The property is a multifamily building that was built in 1964. It consists of 12 units, each with one bedroom and one bathroom. The property has been well-maintained and features a variety of amenities, including on-site laundry facilities and covered parking.
The buyer of the property was not disclosed. However, it is known that the seller was also represented by Greg Alexanian of Alexanian Advisors. The fact that the broker represented both the seller and buyer in the transaction suggests that there was a high level of trust between the parties involved.
The sale of this property is significant because it achieved the highest price per unit before and since COVID for similar vintage. This suggests that the multifamily market in Glendale is still strong, despite the challenges posed by the pandemic. It also highlights the importance of having a knowledgeable and experienced broker like Greg Alexanian to navigate the complexities of the current market.
Overall, the sale of 457 W Dryden St is a positive sign for the Glendale multifamily market. With the current Alexanian Glendale/Burbank inventory valued at $22,000,000, it will be interesting to see what other properties come on the market and how they perform in the current economic climate.