1431 E Garfield Ave, Glendale, CA 91205

Charming 1920s Triplex on Quiet Tree-Lined Street in Glendale

Sold: $1,120,000

Property Highlights

Charming Triplex built in 1928
3,238 total SqFt; large unit s avg. over 1,100 SqFt each
Strong unit mix: (2) 1+1 and (1) 3+2 Unit with a private sun deck
Laundry hookups in each unit
Huge upstairs 3-bedroom unit, over 1,400 sqft
6,559 SqFt Lot Zoned GLR4YY
Three garage parking spots and two additional uncovered spots
Prime Glendale location in charming Somerset neighborhood

The Deal Story

The Glaser Group is pleased to announce the successful closing of 1431 E Garfield Ave, a charming triplex nestled in the desirable Somerset area on the east side of Glendale. This historic property, built in 1928, offers a total of 3,238 square feet of living space, with each unit boasting ample room for comfortable living. The triplex features a strong unit mix, including two spacious 1-bedroom/1-bath units and a large 3-bedroom/2-bath unit upstairs, complete with its own private sun deck above the shared driveway. Additionally, the property provides convenient parking options with three garage spaces in the back and two uncovered spots. Rents at 1431 E Garfield Ave are significantly under market and provide the new buyers with approximately 55% upside potential.

The Glaser Group exclusively listed the property on behalf of a family trust after the seller's husband passed away. Having owned the property for many decades, the trust was looking to maximize the sale price, but also secure a reputable local buyer with a high certainty of closing. They selected our team due to our deep experience in the LA multifamily market and track record in representing trust sales. After marketing the property privately for just 2 weeks, we generated 4 offers and ultimately went under contract 21 days after the listing was signed. We ended up closing with the first buyer we opened escrow with, and we were able to achieve a very aggressive price for our clients at 17.98 GRM and a 3.38% cap rate.