X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A private investor has purchased a value-add apartment deal in Glendale for $5.9 million. The sales price equates to $330,556 per unit and equates to a 3.41% cap rate.

Located at 1022-1026 Thompson Avenue, the property has 18 total units with a mix of one- and two-bedroom floor plans in two buildings. The property was built in 1978, but several of the interior units have been upgrades. Still, there is significant upside for the buyer to complete additional renovations.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.