2520 Montrose Avenue, Montrose, California 91020, Montrose, 91020 - 0 bed, 0 bath
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Montrose, California 91020
Analysis of 2520 Montrose Avenue, Montrose, California 91020 is currently available with a list price of $2,595,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Montrose Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Built in 1947, this property is nearly 80 years old and is explicitly marketed as a 'value-add' opportunity with a gutted basement and units requiring upgrades to reach market rents. The presence of window AC units and master metering indicates outdated systems, and the need to legalize non-conforming spaces suggests significant rehab is required, fitting the >30-year age and rehab criteria.
The property features a rare 3.64% assumable loan through November 2028, allowing a buyer to secure low-cost capital and achieve significant positive cash flow from day one.
With LCR3 zoning and a large 10,303 sq ft lot, there is massive upside through the conversion of existing spaces into up to 3 ADUs and the potential for future high-density development.
Located blocks from Honolulu Avenue shops and within the top-rated Glendale Unified School District, the property is situated in a high-demand area with historically low vacancy rates.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =10303, other record lot size in square feet = 10224. Living area discrepancy between mls listing and other public or private record. mls listing living area = 5502, other record living area = 5100.
The property is master metered, which increases owner operating expenses and limits the ability to pass utility costs directly to tenants, impacting net operating income.
With only 8 parking spaces for 11 existing units, the property has a parking-to-unit ratio of less than 1:1, which may complicate leasing and future ADU expansions.
2520 Montrose Ave, Montrose, CA 91020 – Rare Value-Add Multifamily with Assumable Low-Rate Financing 3.64% Exceptional investment opportunity in tightly held Montrose. Charming 1947 3-structure property on a large 10,303 sq ft lot (LCR3 zoning, APN 5807-016-046) offers timeless architecture, strong income, and major upside. Blocks from Honolulu Ave shops/dining. Appx 5,502 sq ft (buyer verify), 11 units (mostly 1BD/1BA + 2BD owner’s w/ patio/garage). 8 parking, master metered. Proven Income + Huge Upside: Current 2026 rent roll: $17,177/mo ($206,124 annually). Vacant Unit gutted basement projected at $2,000/mo Stabilized Gross: Appx. $230,124/year. GRM at $2,595,000 list: 11.28 (excellent for value-add). Game-Changing Financing: Huge opportunity to assume existing loan at 3.64% (through November 2028). Creates significant positive cash flow from day one while executing value-add and ADU conversions—locking in low-cost capital in today’s rate environment. Massive Growth Potential: ADUs: Up to 3 additional units via conversions of existing space (basement + subdivided areas) per CA/LA County rules. Large lot supports future condo development/density. Upgrade units for market rents + legalize non-conforming for transformative returns. Units lease fast here. Premier Location & Schools: Top-rated Glendale Unified (Crescenta Valley HS A+, excellent elementaries). Perfect for families/long-term tenants. Amazing Opportunity at $2,595,000: Immediate cash flow via assumable low-rate loan, rapid leasing, beautiful architecture, and layered upside rarely found in Montrose. Buyer verify all. Contact for tour, rent roll, pro forma, loan assumption details & ADU plan. Move fast—this won’t last!
No exterior & parking available.
No sensitive facilities data found.
Jun 23, 2026
$2,595,000
Initial Listing
May 31, 2018
$1,850,000
Public Record