327 S Madison WAY, Glendale, CA 91205 - MLS#24471043

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Mindy Luong

[email protected] +1(714) 467-6200

$3,675,000

Est. payment - /mo

16 Beds

20 Baths

11,305 SqFt

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UPDATED:

12/19/2024 06:01 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,305 sqft

Price per Sqft $325

MLS Listing ID 24471043

Bedrooms 16

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1983

Lot Size 10,136 Sqft

Property Description

Built in 1983, 327 S. Madison features (8) 2-bdrm. and 2.5-bath townhouse-style units with direct access to a private 2-car garage, central A/C, in-unit laundry, and a private patio. Each bright and spacious townhome averages approx. 1,413 SF, and tenants are responsible for paying the costs of gas, electric, and water. Current ownership has invested $200,000+ in capital improvements, and have upgraded several of the units with wood laminate flooring, updated cabinetry/backsplash, stainless-steel appliances, and recessed lighting. In addition, this turnkey property features a new roof installed in 2019 and new decks in 2020. We are offering 372 S. Madison at $325 per foot, the lowest PPSF compared to ales of similar properties in the area over the last 12 months. The property presents approx. 19% rental upside compared to market rents for renovated units in the area. At the list price, the property will stabilize at a 6.20% CAP and 11.19 GRM. This townhouse-style complex is located just east of Glendale Ave, the property is approx. 1.4 miles from The Americana, Glendale Galleria, Glendale Fashion Center, and an array of dining and entertainment options along Brand Blvd. In addition, 327 S. Madison sits steps from a recently completed 96,000 SF media facility by East End Studios.

Location

State CA

County Los Angeles

Area 628 - Glendale-South Of 134 Fwy

Zoning GLR3*

Interior

Heating Central

Cooling Central Air

Flooring Tile

Fireplace No

Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer

Exterior

Parking Features Door-Multi, Garage

Garage Spaces 8.0

Garage Description 8.0

Community Features Gated

View Y/N No

View None

Total Parking Spaces 16

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5677001002

Security Features Gated Community

Special Listing Condition Standard

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Listed by Kenny Stevens • Compass

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Mindy Luong

+1(714) 467-6200

Broker | License ID: 01335837

Broker License ID: 01335837

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