$12,499,000
420 W Windsor Road Glendale, CA 91204
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Listed by George Ouzounian • The Agency
$12,499,000
Est. payment /mo
23,234 SqFt
UPDATED:
10/11/2024 01:12 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 23,234 sqft
Price per Sqft $537
MLS Listing ID CRSR24026585
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1987
Lot Size 0.452 Acres
Property Description
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!
Location
State CA
County Los Angeles
Interior
Heating Forced Air, Other
Cooling Central Air
Flooring Laminate, Tile
Fireplace No
Laundry Other, Inside
Exterior
View Hills, Mountain(s), Valley, Trees/Woods, Other
Parking Type Assigned
Building
Lot Description Other
Water Public
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