327 S Madison WAY Active Save Request In-Person Tour Request Virtual Tour
Glendale,CA 91205
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,305 sqft
Price per Sqft $325
MLS Listing ID 24471043
Bedrooms 16
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1983
Lot Size 10,136 Sqft
Property Description
Built in 1983, 327 S. Madison 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 bright and spacious townhome averages approx. 1,413 SF, and tenants are responsible for paying the costs of gas, electric, and water. Current ownership has invested $200,000+ in capital improvements, and have upgraded several of the units with wood laminate flooring, updated cabinetry/backsplash, stainless-steel appliances, and recessed lighting. In addition, this turnkey property features a new roof installed in 2019 and new decks in 2020. We are offering 372 S. Madison at $325 per foot, the lowest PPSF compared to ales of similar properties in the area over the last 12 months. The property presents approx. 19% rental upside compared to market rents for renovated units in the area. At the list price, the property will stabilize at a 6.20% CAP and 11.19 GRM. This townhouse-style complex is located just east of Glendale Ave, the property is approx. 1.4 miles from The Americana, Glendale Galleria, Glendale Fashion Center, and an array of dining and entertainment options along Brand Blvd. In addition, 327 S. Madison sits steps from a recently completed 96,000 SF media facility by East End Studios.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR3*
Interior
Heating Central
Cooling Central Air
Flooring Tile
Fireplace No
Appliance Dishwasher,Disposal,Refrigerator,Dryer,Washer
Exterior
Parking Features Door-Multi,Garage
Garage Spaces 8.0
Garage Description 8.0
Community Features Gated
View Y/N No
View None
Total Parking Spaces 16
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5677001002
Security Features Gated Community
Special Listing Condition Standard