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Listed by Casey Picard, DRE #01921866 • Keller Williams Realty
$ 21,500,000
Est. payment /mo
New
310 N Cedar ST Glendale, CA 91206
0.61 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRP1-29331
Year Built 1972
Lot Size 0.610 Acres
Source California Regional MLS
Property Description
Cedar Regency is an 80-unit apartment building at 310 N Cedar Street in central Glendale, a few blocks east of Glendale Avenue. Built in 1972, it measures 70,632 square feet on a 26,560 square foot lot zoned GLR4. The mix is sixty-nine one bedroom / one bathroom units and eleven two-bedroom / two bathroom units. Two elevators serve the building and two levels of parking hold 106 spaces. Heating and cooling are central, with the units located on the roof, and all electrical sub-panels have been updated. Stoves are electric and tenants pay only for electricity; the owner carries water, sewer, trash, and gas. The on-site laundry room operates without a lease, so that income accrues directly to ownership rather than to a third-party operator.Ten of the eighty units were vacant at the October 7, 2026 rent roll and can be reset at market immediately, with no tenant buyout required. In-place rents average $1,989 for one bedrooms and $2,350 for two bedrooms, below the Glendale lease comparable averages of $2,130 and$2,810. Pro-forma rents of $2,100 and $2,800 lift gross potential rental income from $1,957,496 to$2,108,400. Trailing-twelve operating expenses of $682,960 run 35.83% of effective gross income, or $8,537 per unit. At the listing price of $21,500,000, the in-place cap rate is
Location
State CA
County Los Angeles
Rooms
Kitchen None
Interior
Heating Central Forced Air
Cooling Central AC
Laundry Laundry Area
Exterior
Parking Features Private / Exclusive
Garage Spaces 106.0
Pool 31, None
View None
Others
Tax ID 5645011026
Special Listing Condition Not Applicable
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