Back to Search
107 N Columbus Ave
For Sale $7,100,000 ($910.72 per Sq Ft)
$7,100,000 ($910.72 per Sq Ft)
- 13 Units
- 7,796 Sq Ft
- 9,452 Sq Ft
- Unknown Cap Rate
Description
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***
Loading map...
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $7,100,000 |
| Property Type | Multi-Family |
| Usable Sqft | 7,796 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1925 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 5637015023 |
| MLS # | 25482897 |
| Property ID | 292810275 |
| Lot Sqft | 9,452 |
| Zoning | GLC3* |
| Total Units | 13 |
| Days on Market | 320 |
| Original List Price | $7,100,000 |
| Date Updated | November 30, 2025 |
| Date Created | January 22, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 1.00 | $4,095 | $4,095 |
| Unit #2 | 0 | 1.00 | $2,151 | $2,295 |
| Unit #3 | 1 | 1.00 | $3,178 | $3,328 |
| Gross Income (Yr) | $ 489,207 |
| Operating Expenses | $ 360,365 |
| Net Income (Yr) | $ 360,365 |
Listing Provided By
Douglas Steinriede an agent of . Lic #00284936
© 2025 CARETS and TheMLS. All rights reserved. Based on information from CARETS as of November 30, 2025 The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Robert Crawford
REAL ESTATE AGENT