440 W. Milford is a well-maintained 12-unit property that includes five 2-bedroom, 2-bath units, one 2-bedroom unit, and six 1-bedroom units. The complex sits on a beautifully landscaped 14,554-square-foot double lot, zoned GLR4, offering potential opportunities for adding ADUs. Located in a family-friendly Glendale neighborhood, the property is conveniently situated across from Columbus Elementary School and less than a mile from The Americana and Downtown Glendale.
About The Property
Stats
Price $4,200,000
Current CAP 5.36%
Proforma CAP 6.57%
Price p/ Sq. ft. $443
Price P/ Unit $350,000
Background
440 W. Milford was a charming 12-unit courtyard-style complex located in a family-oriented neighborhood in Glendale. The property owner, a long-standing client of Kenny’s, aimed to diversify his investments by stepping back from some of his California real estate assets. This decision made 440 W. Milford an appealing opportunity for new investors, particularly those interested in Glendale’s landlord-friendly rental environment. Compared to the City of LA, Glendale offers more flexibility and control to landlords, with less stringent rent control, fewer eviction restrictions, and lower relocation fee requirements.
Result
We launched this listing right in the thick of election season. With 90 days until Election Day, many investors we spoke to were holding back, waiting to see how new, potentially game-changing legislation might play out. However, given the success of a previous Glendale listing we sold a few months earlier, we were confident that the interest was there. We strategically targeted our marketing to attract a local, experienced buyer who preferred Glendale over LA for investments—and it paid off. Just 2 weeks into the listing, we connected with an agent representing a buyer who already owned several properties in the area and had multiple projects in development. 60 days later, escrow closed at 95% of the listed price – $4,200,000.
