629 E Elk AVE Glendale, CA 91205

Newer built(1986)14 units. Located in a secure gated building. Double lot with subterranean parking. There are 8 two bedroom one bath and 6 one bedroom one bath. Property has long term tenants and the lease amounts have not been properly adjusted for the past 12 years. Most of the units are on month to month lease contract. Units 13 and 14 information are combined due to input limitation. The pro-forma income is based on the current comps for the area, estimated at $273,600 after future rental adjustment. Operating expense will change to $90,000 and estimated net income will be $183,500. Estimated future cap rate = 5.09 Estimated future Gross multiplier = 13.15 Buyers are hereby advised to check the most current comps for more accurate projections.