Presenting 420 W Windsor Rd – a remarkable opportunity to acquire a rare apartment building boasting 25 units in Glendale! Nestled on a charming tree-lined street just a few blocks away from the Americana and Griffith Park, and offering a convenient commute to downtown, this meticulously maintained property was constructed in 1987 on a spacious 2.25-acre lot (totaling 19,697 SF). Comprising (9) 1-bed, 1-bath, (12) 2-bed, 2-bath, and (4) 3-bed, 2-bath units, each equipped with central AC and eight units featuring balconies, this property provides a comfortable and attractive living space. Additionally, there is an existing unpermitted 1-bed, 1-bath unit on the ground level, currently utilized by the owners as office space and storage. Under the dedicated ownership and management of the current owner for nearly three decades, the rental rates have consistently experienced an annual increase of 4-7%. For added convenience, the owner is open to assisting with management for up to a year post-closing. The pro forma cap rate of 4.1% encompasses the scheduled rent increases in 2024 and the new assessed value of $13,499,000 at a rate of 1.25%. Don’t miss out on the opportunity to purchase this exceptional building!
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DAYS ON MARKET
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266
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LAST UPDATED
|
10/10/2024
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|
YEAR BUILT
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1987
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COMMUNITY
|
Glendale-South of 134 Fwy
|
|
COUNTY
|
Los Angeles
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STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Gas Oven, Gas Range, Refrigerator |
| AREA |
Glendale-South of 134 Fwy |
| GARAGE |
Assigned |
| HEAT |
Central, Forced Air |
| HOA DUES |
0 |
| INTERIOR |
Balcony, Granite Counters, Open Floorplan, Unfurnished |
| LOT |
0.45 acre(s) |
| LOT DESCRIPTION |
21-25 Units/Acre, Near Park |
| PARKING |
Assigned |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| STYLE |
Traditional |
| UTILITIES |
Cable Available,Electricity Available,Natural Gas Connected,Phone Available,Sewer Available,Water Available |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Hills,Mountain(s),Neighborhood,Valley,Trees/Woods |
| WATER |
Public |
| ZONING |
GLR4* |
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Listed with The Agency
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 10/31/24 2:33 AM PDT and /or other sources. 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
This IDX solution is (c) Diverse Solutions 2024.
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