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San Fernando
Tuesday, Nov 29, 2022
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18-Unit Glendale Multifamily Sold for $6 Million

A two-property townhome complex totaling 18 units has sold for $5.95 million, or $330,556 per unit, to an unidentified local buyer, according to brokerage CBRE Group Inc. Located at 1022-1026 Thompson Ave., the two buildings were constructed in 1978 and feature 14 units with two-bedrooms and one-and-a-half baths; and four one-bedroom/one-and-a-half baths units. The properties are supported by two on-site laundry facilities and separate gated subterranean parking garages. Priscilla Nee of CBRE represented both private seller and buyer, both of which are undisclosed. “This was a great value-add opportunity for a savvy investor,” Nee said in a statement. “This property is centrally located between downtown Glendale and Burbank and only minutes from the studios. This is a solid, income-producing investment with upside.”

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.
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