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.”