4.51% CAP
no data
Multi-family
Property Type
No NOI data
Net Operating Income (NOI)
32 unit(s)
Total Units
4.51%
CAP RATE
32
Leasable Doors
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Price per unit
Marcus & Millichap is pleased to present The MayBro Apartments, a thirty two-unit multifamily investment opportunity located in the Citrus Grove neighborhood of Glendale. Offered for sale for the first time in nearly 20 years, 121 Maynard St. and 1502 E. Broadway provide an investor with the opportunity to acquire two sixteen-unit apartment buildings on separate parcels with over 26% in rental upside. The portfolio currently has two vacant units.
Constructed in 1954, both properties are comprised of sixteen one bedroom/one-bathroom units. The average unit sizes at both properties are almost 500 square feet, and most units have been renovated during ownership. Each property has its own on-site laundry room, and all units are separately metered for gas and electricity and have individual hot water heaters. 1502 E. Broadway provides tenants with twenty parking spaces and 121 Maynard St. provides tenants with twelve parking spaces and twelve storage units. There is also an additional owner’s storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250.
- First Time on the Market in nearly 20 Years
- Most Units Have Been Remodeled
- Short Distance from Glendale College and Occidental College
- All One-Bedroom Units
- 32 Combined Parking Spaces
- Landlord Friendly City – Glendale is Subject to AB1482 and Allows Higher Rental Increase Amounts than the City of LA or Unincorporated LA County
