Properties | 5091 Glen Iris

5091 Glen Iris

9-Unit Investment Opportunity

5091 Glen Iris | Eagle Rock, CA

Sales Price: $3,217,500

Units: 9

Price per Unit: $357,500

Price per Sq. Ft.: $476.38

Current CAP: 4.04%

Current GRM: 15.85

Market CAP: 4.57%

Market GRM: 14.80

Year Built: 1989

Lot Size Sq. Ft.: 9,845

Gross Bldg. Sq. Ft.: 6,754

Net Rentable Sq. Ft.: 6,754

Close of Escrow: 5/18/2018

The Harris Group, as exclusive advisor, is pleased to present the opportunity to purchase 5091 Glen Iris, a non-rent controlled nine unit apartment building located in Eagle Rock. Located on a quiet residential street yet just two blocks from Colorado Boulevard, a “Main Street” corridor  of Eagle Rock lined with boutique shopping and trendy restaurants such as Top Knot, Milkfarm, Café Beaujolais, Room 31 and Swork Coffee Bar, 5091 Glen Iris is the premier choice for residents seeking to combine walkable retail with luxury finishes and a quiet neighborhood atmosphere. 

The Property consists of a 9-unit apartment community originally built in 1989. Masterfully renovated with over $225,000 in upgrades, Glen Iris’s fusion of mid-century modern architecture and luxury finishes directly appeals to the upscale preferences of today’s burgeoning creative class. The property consist of one building totaling 6,754 gross square feet situated on 0.23 acres and is located steps from Colorado Blvd which hosts dozens of trendy restaurants and retail stores.