We are pleased to present a retail and residential mixed use property, located on a busy thoroughfare in Glendale, California. The property is located at 821 E Colorado Boulevard less than one mile from the Glendale Galleria and the Americana at Brand. The offering consists of one retail building, two two-bedroom residential units and one studio unit. The asset is 100% occupied with month-to-month tenants or tenants that have very short term leases.The property is zoned C3 and is in the height district I, which is favorable for development. The property is directly adjacent to a medical office building and neighbors another multi story office building structure. Based on our interpretation, C3 zoning allows for a zero front setback, and a Height District I allows for up to 3 stories and a max height of 45 feet.A Buyer for this asset can enjoy the income as they plan a larger commercial development or purchase the asset as a long term hold strategy with development as future potential.
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