SUCCESS STORY
3rd Glendale Sale in the Last 6 Months
327 S Madison Way
This sale represents the 2nd highest per-unit sale in Glendale over the past 12 months and marks our 3rd sale in Glendale within the last 6 months.
Price
$
3,610,000
City
Glendale
Current Cap Rate
5.21
%
Price P/ Unit
$
451,250
Lot Size
10,134
SF
327 s madison
Price
$
3,610,000
City
Glendale
Current Cap Rate
5.21
%
Price P/ Unit
$
451,250
Lot Size
10,134
SF
Background
Built in 1983, 327 S. Madison is a turnkey townhouse complex featuring (8) 2-bdrm, 2.5-bath townhouse-style units with private 2-car garages, central A/C, in-unit laundry, and private patios. Ownership had invested $200,000 in capital improvements, including renovated interiors, a new roof installed in 2019, and new decks in 2020. Growing fearful of growing anti-landlord legislation in Los Angeles, the Sellers made the decision to cash out. With limited flexibility on price due to the upgrades, ownership sought premium pricing.
Result
Our initial marketing campaign generated significant interest, with 5,500+ email opens and 350+ marketing package views. Escrow opened in mid-December with an outside agent representing a local buyer expanding their portfolio. Despite challenges posed by the ongoing wildfires, we navigated inspections seamlessly and closed escrow in just over 30 days at $3,610,000. This sale represents the 2nd highest per-unit sale in Glendale over the past 12 months and marks our 3rd sale in Glendale within the last 6 months.
