facebook
Traded Co logo
Submit a Deal
427 East Acacia Avenue
SOLD

George Ouzounian & Gina Michelle Acquire Multifamily Property In Glendale For $2.115M As Buyer's Reps

427 East Acacia Avenue

MultiFamily
4,618 SF
clock iconSold 78 days ago
Gina Michelle
George Ouzounian
Rick Raymundo
the dealplayerscompscontact
share iconContact now

Summary

Sale
CALIFORNIA
MultiFamily
4,618 sqft

The multifamily property located at 427 East Acacia Avenue in Glendale was sold for $2,115,000, representing a price per square foot of $458. The property, along with its neighboring building at 421 E Acacia Avenue, offers potential for increased rental income under AB 1482 regulations, with rents currently below market rates for the area, surrounded by a vibrant mix of shopping, dining, and entertainment options in historic Adams Square and along Glendale Avenue and Brand Boulevard.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $2,115,000
  • Square Footage: 4,618
  • Price per Square Foot: $458
  • Address: 427 East Acacia Avenue, Glendale
  • Market: Glendale

George Ouzounian and Gina Michelle of The Agency represented the buyer in the transaction, while Rick Raymundo of Marcus & Millichap served as the seller's representative. The property presents a promising investment opportunity with unrealized rental potential due to current rents below market rates, situated amidst a bustling area offering various amenities and attractions for residents.

Players

  • All

    5

  • Agents

    3

  • Agencies

    2

Gina Michelle's profile picture
Gina Michelle
The Agency-image
Director, Estates Division
$40.6M Sold

Details

Deal Summary
minus icon
SOLD
IMAGE: George Ouzounian, Gina Michelle & Rick Raymundo DATE: 04/29/2024 ADDRESS: 427 East Acacia Avenue MARKET: Glendale ASSET TYPE: Multifamily BUYER'S REP: George Ouzounian (@George_Ouzounian) & Gina Michelle (@TherealGinaMichelle) - The Agency (@TheAgencyRE) SELLER'S REP: Rick Raymundo (@LACMultifamily) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $2,115,000 SF: 4,618 ~ PPSF: $458 NOTE: The multifamily property located at 427 East Acacia Avenue in Glendale was sold for $2,115,000, representing a price per square foot of $458. The sale was facilitated by George Ouzounian and Gina Michelle of The Agency representing the buyer, with Rick Raymundo of Marcus & Millichap representing the seller. The property, along with its neighboring building at 421 E Acacia Avenue, offers potential for increased rental income under AB 1482 regulations, with rents currently below market rates for the area, surrounded by a vibrant mix of shopping, dining, and entertainment options in historic Adams Square and along Glendale Avenue and Brand Boulevard.

View on map

Loading...

Address427 East Acacia Avenue

Comparables

No listingsThis user does not have deals with the selected filters yet.
Reset filters to show results.

Contact

Get in touch with the broker you want