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$ 12,400,000
Est. payment /mo
New
201 N Belmont Glendale, CA 91206
0.52 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26141166
HOA Y/N No
Year Built 1985
Lot Size 0.524 Acres
Property Sub-Type Apartment
Property 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.
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.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Interior
Heating Forced Air
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup
Exterior
Pool Private
Community Features Curbs
Private Pool Yes
Building
Lot Description 26-30 Units/Acre
Story 3
Sewer Private Sewer
Water Private
New Construction No
Others
Senior Community No
Tax ID 5645018035
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Levon Alexanian Keller Williams World Media Center info@alexanianadvisors.com, DRE #00911091
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