1340 Orange Grove
1340 Orange Grove
1340 Orange Grove | A 34-Unit, Value-Add Investment Opportunity in Glendale, CA | Built in 1984
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JLL, as the exclusive advisor, is pleased to present for sale 1340 Orange Grove (the “Property” or “Orange Grove”) – a centrally located, high-performing, value-add, multifamily investment opportunity located in the City of Glendale, California. Built in 1984, the property is a 34-unit, two-story low-rise community comprised of 1-, 2-, and 3-bedroom apartments with an average unit size of ±783 SF. Subsequent investors are afforded the opportunity to implement a comprehensive renovation strategy to realize ±81% of rental upside over currently achieved rents. Furthermore, 1340 Orange Grove is not subject to the City of Los Angeles Rent Stabilization Ordinance or the “Measure ULA” transfer tax, offering an incoming investor a clear runway for future rent growth and profitability on a future sale.
Located in the heart of the Tri Cities, the Property represents a unique value-add opportunity in one of Los Angeles’ most desirable rental submarkets. Benefiting from Glendale’s vibrant cultural scene, excellent school system, and proximity to major highways, residents are surrounded by an array of local amenities, dining options, and entertainment with easy access to greater Los Angeles. Major employers such as Dream Works Animation, Dine Brands, and Nestle supply Glendale’s educated tenant base with numerous employment opportunities across a variety of industries.
Orange Grove presents a rare opportunity to acquire a well-maintained asset with significant value-add potential in a high-growth submarket of Los Angeles County. With an unobstructed path for higher yield, the Property is projected to outperform multifamily communities across greater Los Angeles in the immediate future.