Los Angeles, Residential Income – 3030 Montrose Ave, Glendale, CA 91214, USA -001-11-30T00:00:00-08:00
MONTROSE VILLA – 3030 Montrose Avenue is a 38-unit luxury apartment community in the highly desirable city of La Crescenta, California. This offering presents a rare opportunity for investors to acquire a very well located, non-rent-controlled, upgraded apar
3030 Montrose Ave, Glendale, CA 91214, USA
$15,600,000 USD
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Address3030 Montrose Avenue, La Crescenta
Price$15,600,000
Year Built1973
Bedrooms Total0
Living Area28,636 ft2
Lot Size (Sq.Ft.)47,323
Listing IDAR17250311
StatusActive
Parcel Number5610008132
Special ConditionsStandard
Days on Market12

Detailed Description: MONTROSE VILLA – 3030 Montrose Avenue is a 38-unit luxury apartment community in the highly desirable city of La Crescenta, California. This offering presents a rare opportunity for investors to acquire a very well located, non-rent-controlled, upgraded apartment community with an approved condo tract map in one of the strongest submarkets in the Los Angeles County. The property is a two-story, above parking, beautifully landscaped garden style apartment that was built in 1973 and has undergone extensive renovation in the past years. It is comprised of three buildings with a center courtyard, fenced swimming pool, jacuzzi, and situated on a large ±47,323 sq.ft (±1.09 acre) lot size. The property has a quiet ambiance and surrounded by single-family houses, condominiums and other area amenities such as churches and retail stores. It offers an excellent unit mix of two (2) x 3 bedroom + 2 bathroom, twenty (20) x 2 bedroom + 1 bathroom, and sixteen (16) x 1 bedroom + 1 bathroom units. Each unit is large and bright with an attractive layout. The 3-bedroom unit has an estimated size of ±1,050 sq.ft, 2-bedroom unit has an estimated size of ±800 sq.ft, and the 1-bedroom unit has an estimated size of ±650 sq.ft. Upgraded units have laminate wood flooring, upgraded kitchen with quartz / granite countertops and new kitchen cabinets, stainless steel appliances, completely redone bathroom with new vanity, new A / C units, ceiling fans, mirrored closet doors, and double pane windows.

Cooling
Association
Fireplace
Laundry
Parking
Pool Private
Rent Control
Senior Community
Property Attached
Land Lease

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Address Information
Address3030 Montrose Avenue, La Crescenta
Street SuffixAvenue
CityLa Crescenta
Location (MLS Area)635 – La Crescenta/Glendale Montrose & Annex
County Or ParishLos Angeles
State or ProvinceCA
Postal Code91214
CountryUS
Financial Information
Price per Square Foot$544.77
Price per Lot Square Foot$329.65
Tenant PaysElectricity, Gas
Special ConditionsStandard
Total Expenses$276,065
Professional Management Expense$34,968
Operating Expense$276,065
Insurance Expense$8,773
Gardner Expense$4,010
Pool Expense$2,700
Electric Expense$13,710
Water Sewer Expense$10,178
Trash Expense$9,772
Maintenance Expense$19,000
Gross Operating Income$885,610
Gross Income$913,000
Gross Scheduled Income$913,000
Net Operating Income$609,545
Total Actual Rent$73,145
Tax Year2000
New Taxes Expense$171,305
Full Descriptions
Parcel Number5610008132
Detailed DescriptionMONTROSE VILLA – 3030 Montrose Avenue is a 38-unit luxury apartment community in the highly desirable city of La Crescenta, California. This offering presents a rare opportunity for investors to acquire a very well located, non-rent-controlled, upgraded apartment community with an approved condo tract map in one of the strongest submarkets in the Los Angeles County. The property is a two-story, above parking, beautifully landscaped garden style apartment that was built in 1973 and has undergone extensive renovation in the past years. It is comprised of three buildings with a center courtyard, fenced swimming pool, jacuzzi, and situated on a large ±47,323 sq.ft (±1.09 acre) lot size. The property has a quiet ambiance and surrounded by single-family houses, condominiums and other area amenities such as churches and retail stores. It offers an excellent unit mix of two (2) x 3 bedroom + 2 bathroom, twenty (20) x 2 bedroom + 1 bathroom, and sixteen (16) x 1 bedroom + 1 bathroom units. Each unit is large and bright with an attractive layout. The 3-bedroom unit has an estimated size of ±1,050 sq.ft, 2-bedroom unit has an estimated size of ±800 sq.ft, and the 1-bedroom unit has an estimated size of ±650 sq.ft. Upgraded units have laminate wood flooring, upgraded kitchen with quartz / granite countertops and new kitchen cabinets, stainless steel appliances, completely redone bathroom with new vanity, new A / C units, ceiling fans, mirrored closet doors, and double pane windows.
Lot FeaturesLandscaped, Lot Over 40000 Sqft, Lot Shape-Irregular, Near Public Transit
Community FeaturesFoothills, Suburban, Valley
Water SourcePublic
UtilitiesSee Remarks, Sewer Connected, Water Connected
Laundry FeaturesArea, Community, See Remarks
Heating DescriptionWall Heater
Cooling DescriptionWall Window
Parking FeaturesAssigned, Carport, Carport Detached, Covered Parking, Driveway, Off Street
Fireplace FeaturesSee Remarks
Common Walls Description2
Pool FeaturesCommunity Pool, In Ground
Property parameters
Year Built1973
Living Area (Sq.Ft.)28,636 ft2
Lot Size (Sq.Ft.)47,323
Lot Size SourceAssessor
Number of Buildings3
Number of Units Leased38
Number of Units Total38
Stories Total2
Parking Spaces83
Uncovered Spaces2
LevelsTwo
Carport Spaces81
Water SourcePublic
Units Total38
Year Built SourceAssessor
Vacancy Allowance Rate3%
Number of Separate Electric Meters39
Number of Separate Gas Meters39
Number of Separate Water Meters1
Units with Disposal38
Listed withHandoko Chen (Growth Investment Group, Inc.)