107 Columbus

Glendale, CA, 91203
For Sale $7,100,000
  • 10beds
  • 7,796sqft
  • 0.22acre
Graceland Apartments, located at 107 N. Columbus Avenue, is a charming 13-unit historic American Four Square building just one block from the Glendale Americana. The current owner has made over $1 million in strategic capital improvements, including upgrades to the electrical system, plumbing, and roofing. Spanning two parcels, the property offers a diverse mix of units: (2) 2-bedroom/1-bathroom, (6) 1-bedroom/1-bathroom, and (5) studios. With spacious floorplans, many units have been meticulously restored to cater to the area's strong tenant demand. A RUBS (Ratio Utility Billing System) program has been implemented across all units, boosting operational efficiency and allowing for a sub-30% expense ratio for future owners. The property also includes ten garages, currently generating rental income with the potential to be converted into three 2-bedroom/1-bathroom ADUs, each around 700 square feet. These ADUs could add approximately $34,605 in annual rental income. By capitalizing on market rent increases and investing in ADU construction, a new owner could see an impressive return on cost of up to 333%. ***Assumable Financing Available***

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Interested in this property or one like it? Reach out today to talk with advertising agent Shen Schulz.

Listed by:
Douglas Steinriede with Dover Management Corp.
(818) 843-5200
107 Columbus is a Residential Income property located in Glendale, California, featuring a 0.217 acre lot, 7,796 sqft, 10 bedrooms, MLS #25482897.

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Data last modified: 2025-08-30 21:48:29