We are pleased to be retained as exclusive advisor for the Doran Lofts, a truly one of a kind asset and offering located in Glendale, CA. Great unit mix of 75% 2 bedrooms and unit sizes ranging from 1,341 to 1,641 sqft. Being offered with an in place 4% CAP, and ease of upside to 4.4% CAP. Furthermore, Doan Lofts was designed, built and individually parceled as condominiums - offering a phenomenal additional exit strategy. The modern luxury asset sits on a signalized corner lot, just shy of an acre. From high grade construction materials to designer selected finishes, this remarkable asset provides an investor a turn-key pride of ownership hold. Rare opportunity to not only penetrate a high barrier to entry market, but also to acquire a trophy asset with great curb appeal & recognition. The over-sized unit sizes and generous outdoor patio/deck spaces, provide a lacking component in most newly constructed assets. Low operating costs due to high grade construction design makes for a truly ease of management asset. Current average rent of $2.04/ per sqft is considerably below other luxury assets in Glendale averaging $3.17 rent per sqft, offering ease of upside. Built in 2007, property is non-rent-controlled.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
