UPDATED:
10/10/2024 11:40 PM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24026585
Bedrooms 6
HOA Y/N No
Lot Size 0.452 Acres
Property Description
Presenting 420 W Windsor Rd a remarkable opportunity to acquire a rare apartment building boasting 25 units in Glendale! Nestled on a charming tree-lined street just a few blocks away from the Americana and Griffith Park, and offering a convenient commute to downtown, this meticulously maintained property was constructed in 1987 on a spacious 2.25-acre lot (totaling 19,697 SF). Comprising (9) 1-bed, 1-bath, (12) 2-bed, 2-bath, and (4) 3-bed, 2-bath units, each equipped with central AC and eight units featuring balconies, this property provides a comfortable and attractive living space. Additionally, there is an existing unpermitted 1-bed, 1-bath unit on the ground level, currently utilized by the owners as office space and storage. Under the dedicated ownership and management of the current owner for nearly three decades, the rental rates have consistently experienced an annual increase of 4-7%. For added convenience, the owner is open to assisting with management for up to a year post-closing. The pro forma cap rate of 4.1% encompasses the scheduled rent increases in 2024 and the new assessed value of $13,499,000 at a rate of 1.25%. Dont miss out on the opportunity to purchase this exceptional building!
Location
State CA
County Los Angeles
Area Glendale (91204)
Zoning Public Rec
Interior
Cooling Central Forced Air
Appliance Forced Air Unit
Exterior
Parking Features Unit1:Assigned
Building
Lot Description Sidewalks
Story 3
Level or Stories 3 Story
Others
Acceptable Financing Cash, Conventional
Space Rent $213,312
Listing Terms Cash, Conventional
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