
Closed Listing
(8) 2-Bdrm. & 2.5 Townhomes in Glendale | Built in 1983
327 s madison way
sold in
Glendale
Sold At
$
3,610,000
8
Number of Units
1983
Year Built
11,305
SF
Square Footage
10,134
SF
Lot Size
GLR3
Zoning
327 S Madison Way, Glendale, CA 91025
About the Property
327 S Madison Way is an 8-unit townhouse-style complex offered at the lowest price per foot compared to sales of similar properties in the last 12 months. Built in 1983, 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 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. In addition, 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. Property amenities include gated entry and community laundry.
8
Number of Units
1983
Year Built
11,305
SF
Square Footage
10,134
SF
Lot Size
GLR3
Zoning
Detailed Brochure on Real Estate Opportunities
Price P/ Unit
$451,250
Price p/ Sq. ft.
$319
Proforma Cap Rate
6.52%




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