Thank you
Kenny Stevens
Compass
310-230-5478
*** 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.
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Total Bedrooms : 16
Total Baths: 20
Full Baths: 0
Half Baths: 0
Property Appliances: Dishwasher,Disposal,Dryer,Washer
Flooring: Tile
Central Air
Air Conditioning
Central
Has Heating
Year Built: 1983
Building Area Total: 11,305
Gated Community,Key Card Entry
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2365
Lot Size Source: Other
Lot Size Square Feet: 10304
Original List Price: 3,650,000
Listing Contract Date: 2024-03-19
Listing Agreement: Seller Reserved
Parcel Number: 5677001002
Garage Description: Door-Multi,Garage
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 628 - Glendale-South of 134 Fwy
Postal Code Plus 4: 3340
Directions: 327 S. Madison is 0.2 miles south of the NEW East End Studio (1239 S. Glendale) and just north E. Los Feliz Rd. and S. Glendale Ave.
Zoning: GLR3*
Source Property Type: Residential Income
Area: 628 - Glendale-South of 134 Fwy
Property Age: 41
Year Built Source: Other
Total Square Feet Living: 11305
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
311 E Maple Street, Glendale, CA,91205 | $2,950,000 | -- | -- | 7,099 | 8752 Sqft |
1118 E Palmer Avenue #109, Glendale, CA,91205 | $519,900 | 1 | 1 | 610 | 42145 Sqft |
508 S Chevy Chase Drive, Glendale, CA,91205 | $1,600,000 | 5 | 4 | 2,860 | 7527 Sqft |
118 S Kenwood Street #405, Glendale, CA,91205 | $969,000 | 2 | 2 | 1,203 | 15073 Sqft |
1538 E Broadway, Glendale, CA,91205 | $1,200,000 | 2 | 2 | 1,368 | 7485 Sqft |
1534 E Broadway, Glendale, CA,91205 | $1,100,000 | 3 | 1 | 1,066 | 7490 Sqft |
524 E Acacia Avenue, Glendale, CA,91205 | $3,500,000 | -- | -- | 8,080 | 7970 Sqft |
421 E Acacia Avenue, Glendale, CA,91205 | $2,870,000 | 16 | -- | 6,206 | 10211 Sqft |
1215 Reynolds Drive, Glendale, CA,91205 | $1,350,000 | 4 | 1 | 1,835 | 6127 Sqft |
404 Lincoln Avenue, Glendale, CA,91205 | $5,995,000 | -- | -- | 13,176 | 11905 Sqft |
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ByOwner last updated this listing 05/19/2024 @ 15:42
MLS: 24370485
LISTED BY: Kenny Stevens, Compass
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.