Property Details

Price $3,875,000

Year Built 1983

# of Units 8

Price P/ Unit $484,375

Sq. ft. 11,305 SF

Price p/ Sq. ft. $343

Current Cap Rate 4.77%

Proforma Cap Rate 6.19%

Lot Size 10,134 SF

Zoning GLR3

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About the Property

327 S. Madison Way is an 8-unit townhouse complex in Glendale (built in 1983) located down the street from the new East End Studios. This well-maintained property 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 spacious townhome averages approx. 1,281 SF, and tenants are responsible for paying the costs of gas, electricity, and water. This turnkey property is equipped with subterranean parking (no retrofitting required), copper plumbing, a new roof in 2019, and upgraded decks in 2020 (per ownership). Please note that the City of Glendale currently allows an 8.8% annual rental increase (5% + CPI).

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