Presenting The Verdara, a 50-unit luxury apartment complex located in premier downtown Glendale, California, directly across the street from the iconic Americana at Brand. This 2017-built property offers an exceptional investment opportunity with a 50 unit parcel, an ideal opportunity for investors interested in pursuing a potential luxury condominium conversion project in a prime location. The nearly 76,000 sq ft compound spans from street-to-street, complete with gated subterranean parking. This newer construction offers a variety of floorplans and well-appointed amenities. Premier Glendale Downtown location, Steps to the Americana at Brand & the Glendale, very close to the Armenian American Museum, and promenade to all the outdoor cafes on Brand Blvd, nightlife entertainment, and fine dining. Ultimately, The Verdara offers its residents with an abundance of conveniences including live, work, while enjoying a fun City lifestyle!
Property Details Summary:
Subdivided Tract Map for 50 units
Building Size: 75,741 sq ft (per tax assessors)
Lot Size: 21,885 sq ft (per tax assessors)
List Price: $36,000,000.00
Price Per Unit: $720,000.00
CAP Rate: 4.01%
GRM: $16.03
Building Features:
50 luxury apartment homes with the potential for new investors to pursue applications for luxurious condo conversion
Gated subterranean parking with 85 spaces
Street-to-street lot with two entry points, including a secondary address at 203 W Elk Avenue, Glendale 91204
Premier downtown Glendale location, offering the ultimate live, work, and play lifestyle.
Property Highlights & Amenities:
Attractive floor plans including penthouse lofts, high ceilings, fireplaces, and scenic views
Walk-in closets
Stainless steel kitchen appliances, Caesarstone countertops, custom cabinets, and balconies
Inside-unit laundry
Open-air community lounge- recreation-social room, formal lobby, fitness center, mail room, and on-site leasing office
Easy access to Four Major Freeways: the I-5 Golden State Freeway, the 2 Glendale Freeway, the 134 Ventura Freeway, and the 210 Foothill Freeway
Location centric conveniences: Step into the highly sought out global destination, the Americana at Brand, by crossing the street from the main Verdara lobby. Here, residents, tourists, visitors, find high end retailers, restaurants, movie theatres, outdoor activities and live entertainment all nestled around the Americana's beautiful grand fountain on the Green. Next door is the Glendale Galleria shopping mall, the Armenian American Museum currently under construction next to the Glendale Library, and the spectacular Brand Blvd's vibrant promenade of outdoor cafes, nightlife, and fine dining. Residents enjoy the conveniences of City Living and an easy access to Los Angeles four major freeways accommodating a short drive to the Bob Hope airport in Burbank & Downtown Los Angeles as well as to the adjacent communities including La Canada Flintridge, Pasadena, and the Foothills.
Exclusively Listed by: Silva Hameline, Broker at Hameline Global
For detailed information, email:
[email protected]
Presenting The Verdara, a 50-unit luxury apartment complex located in premier downtown Glendale, California, directly across the street from the iconic Americana at Brand. This 2017-built property offers an exceptional investment opportunity with a 50 unit parcel, an ideal opportunity for investors interested in pursuing a potential luxury condominium conversion project in a prime location. The nearly 76,000 sq ft compound spans from street-to-street, complete with gated subterranean parking. This newer construction offers a variety of floorplans and well-appointed amenities. Premier Glendale Downtown location, Steps to the Americana at Brand & the Glendale, very close to the Armenian American Museum, and promenade to all the outdoor cafes on Brand Blvd, nightlife entertainment, and fine dining. Ultimately, The Verdara offers its residents with an abundance of conveniences including live, work, while enjoying a fun City lifestyle!
Property Details Summary:
Subdivided Tract Map for 50 units
Building Size: 75,741 sq ft (per tax assessors)
Lot Size: 21,885 sq ft (per tax assessors)
List Price: $36,000,000.00
Price Per Unit: $720,000.00
CAP Rate: 4.01%
GRM: $16.03
Building Features:
50 luxury apartment homes with the potential for new investors to pursue applications for luxurious condo conversion
Gated subterranean parking with 85 spaces
Street-to-street lot with two entry points, including a secondary address at 203 W Elk Avenue, Glendale 91204
Premier downtown Glendale location, offering the ultimate live, work, and play lifestyle.
Property Highlights & Amenities:
Attractive floor plans including penthouse lofts, high ceilings, fireplaces, and scenic views
Walk-in closets
Stainless steel kitchen appliances, Caesarstone countertops, custom cabinets, and balconies
Inside-unit laundry
Open-air community lounge- recreation-social room, formal lobby, fitness center, mail room, and on-site leasing office
Easy access to Four Major Freeways: the I-5 Golden State Freeway, the 2 Glendale Freeway, the 134 Ventura Freeway, and the 210 Foothill Freeway
Location centric conveniences: Step into the highly sought out global destination, the Americana at Brand, by crossing the street from the main Verdara lobby. Here, residents, tourists, visitors, find high end retailers, restaurants, movie theatres, outdoor activities and live entertainment all nestled around the Americana's beautiful grand fountain on the Green. Next door is the Glendale Galleria shopping mall, the Armenian American Museum currently under construction next to the Glendale Library, and the spectacular Brand Blvd's vibrant promenade of outdoor cafes, nightlife, and fine dining. Residents enjoy the conveniences of City Living and an easy access to Los Angeles four major freeways accommodating a short drive to the Bob Hope airport in Burbank & Downtown Los Angeles as well as to the adjacent communities including La Canada Flintridge, Pasadena, and the Foothills.
Exclusively Listed by: Silva Hameline, Broker at Hameline Global
For detailed information, email:
[email protected]
