1042 Western Avenue
1042 Western Avenue is a 17-unit multifamily property in Glendale's highly walkable Grandview neighborhood, offered at $7,000,000 at a 4.26% cap ($298,540 NOI). Built in 1963 and substantially renovated in 2024, the asset presents a stabilized investment with 97% occupancy and approximately 15% upside to market rents.
Fifteen of the 17 units have been recently remodeled with new flooring, appliances, quartz countertops, and updated HVAC systems. The unit mix includes two studios, ten one-bedroom/one-bathroom units, one large two-bedroom/one-bathroom unit, four two-bedroom/two-bathroom units, and one permitted accessory dwelling unit. The 11,498 SF building sits on a 10,359 SF lot with 16 parking spaces and on-site amenities including a swimming pool and laundry facilities. Seven large storage units generate additional rental income and may present conversion potential for an additional ADU, subject to feasibility and approvals.
The property is positioned two miles from major entertainment studios including Walt Disney Studios and Warner Bros. Studios, making it a primary housing pocket for entertainment industry professionals. The location benefits from a Walk Score of 86 (Very Walkable), with convenient access to I-5 and SR-134 freeways, Glendale Beeline Route 7 transit, and major employers including Disney, Adventist Health Glendale, and ServiceTitan. The trade area is anchored by the Glendale Galleria and Americana at Brand, with proximity to Brand Park and Griffith Park. Burbank Airport is six miles away; LAX is 28 miles distant.
- Substantially renovated in 2024 with 15 of 17 units featuring new finishes and systems
- Favorable unit mix with diverse bedroom/bathroom configurations
- Walk Score 86 in highly walkable Grandview neighborhood near entertainment studios
- 97% occupancy with approximately 15% upside to market rents
- Additional income from seven storage units; potential ADU conversion opportunity
- On-site pool and laundry; 16 parking spaces
More property details
Features & amenities
Location
Located in Glendale's desirable Grandview neighborhood near the Glendale/Burbank border with convenient access to I-5 and SR-134 freeways. The property is positioned just two miles from major entertainment studios like Walt Disney Studios and Warner Bros. Studios, making it a major housing pocket for entertainment industry professionals. Positioned right below the Verdugo Mountains, it acts as a gateway to Brand Park and sits close to Griffith Park.
- Walk Score 86 (Very Walkable);
- Minutes from I-5 and SR-134 freeways;
- Public transit via Glendale Beeline Route 7;
- 6 miles to Burbank Airport;
- 28 miles to LAX;
- Near major employers including Disney, Adventist Health Glendale, ServiceTitan