327 Madison Way, Glendale, CA 91205
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Listed Price :
$3,650,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
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Year Built :
1983
Property Description
*** Just reduced by $225,000 - Bring ALL offers - current ownership is motivated to meet the market *** 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. Ownership upgraded several units including, wood laminate flooring, updated cabinetry, stainless steel appliances, and recessed lighting. 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). 327 S. Madison is located 1.4 miles from The Americana at Brand, Glendale Galleria, Glendale Fashion Center, and an array of dining/entertainment amenities along Brand Blvd. Please note that the City of Glendale currently allows an 8.8% annual rental increase (5% + CPI). The property offers approx. 23% rental upside compared to renovated units in the area. The property will stabilize at 6.15% CAP and 11.29 GRM at the list price.
Interior Features
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Flooring Information |
Material |
Tile |
Interior Information |
Cooling Type |
Central Air |
Listing Information
Address |
327 Madison Way |
City |
Glendale |
State |
CA |
Zip |
91205 |
County |
Los Angeles |
Listing Agent |
Kenny Stevens DRE #01090251 |
Courtesy Of |
Compass |
List Price |
$3,650,000 |
Status |
Active |
Type |
Residential Income |
Structure Size |
N/A |
Lot Size |
10,304 |
Year Built |
1983 |
Listing information courtesy of: Kenny Stevens, Compass. *Based on information from the Association of REALTORS/Multiple Listing as of Apr 25th, 2024 at 11:07 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.