$ 12,499,000
420 W Windsor RD Glendale, CA 91204
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
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$ 12,499,000
Est. payment /mo
Price Dropped by $500K
420 W Windsor RD Glendale, CA 91204
0.45 Acres Lot
UPDATED:
10/10/2024 05:51 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR24026585
Style Traditional
Originating Board California Regional MLS
Year Built 1987
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%. Don't miss out on the opportunity to purchase this exceptional building!
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Rooms
Kitchen Oven Range - Gas, Refrigerator, Oven - Gas
Interior
Heating Forced Air, Central Forced Air
Cooling Central AC
Flooring Laminate
Laundry Laundry Area, Other
Exterior
Garage Assigned Spaces
Pool 31, None
View Hills, Local/Neighborhood, Valley, Forest / Woods
Building
Story Three or More Stories
Water District - Public
Architectural Style Traditional
Others
Tax ID 5696019044
Special Listing Condition Not Applicable
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Listed by George Ouzounian • The Agency