629 E Elk Avenue, Glendale, CA 91205

• 10,700 sqft

Property Description

This stabilized asset features in-place rents approximately 10% below market, with Glendale's Rental Ordinance (aligned with statewide AB 1482 provisions) allowing annual increases of 5% + CPI. This positions an investor to capture the remaining upside relatively quickly through standard adjustments. Additional income streams include monthly laundry income and storage income from three larger on-site storage units. Built in 1986, the asset totals 10,700 square feet and includes six 1-bed/1-bath units, six 2-bed/1-bath units, and two larger 2-bed/1-bath units. Ten of the fourteen units have been upgraded with laminate flooring, modern appliances, quartz countertops, and in several cases split-system A/C. For investors looking to maximize cash flow, the property will be delivered with approved plans to convert the three storage units into two brand new 2-bedroom/1-bathroom ADUs, enabling the new owner to add nearly $60,000 in annual rental revenue. Additional features include gated and controlled access, separate gas and electric meters per unit, on-site laundry room, and gated parking. The 13,531-square-foot lot is zoned R2250, rendering the current 14-unit configuration irreplaceable under existing zoning this truly represents the highest and best use. Positioned just east of S.

Listing Status:

Active

Date Added:

February 23, 2026

Data Last Updated:

April 2, 2026 at 12:06AM

Listing Office:

Marcus & Millichap : 818-212-2700

Listing Agent:

Roderick 'Rick' Raymundo : 213-943-1855

MLS ID:

CL26655543

Exterior

• Parking: Assigned

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: GLR45674025037

Financial

• Source: CRMLS