Property Details

Price $3,950,000

Year Built 1983

# of Units 8

Price P/ Unit $483,750

Sq. ft. 11,305 SF

Price p/ Sq. ft. $349

Current Cap Rate 3.99%

Proforma Cap Rate 5.74%

Lot Size 10,134 SF

Zoning GLR3

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About the Property

S. Madison Way, a well-maintained townhouse complex located in the heart of Glendale, a landlord-friendly and family-focused community. Glendale currently allows a 10% annual rent increase, 5% plus the CPI. This well-maintained townhouse complex, built in 1983, features (8) 2-bdrm. and 2.5-bath townhouse-style units. Each bright and spacious unit is approx. 1,200+ SF each features central A/C, direct access to a private 2-car garage, an in-unit washer and dryer, and a private patio. Several upgraded units include wood laminate flooring, stainless steel appliances, and quartz countertops. 327 S. Madison presents a value-add opportunity, as current rents are approx. 21% below market compared to renovated units in the building. This turnkey property features a new roof installed in 2019 and controlled access.

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