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327 S Madison Way Glendale, CA 91205
11,305 SqFt
UPDATED:
12/18/2024 02:27 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,305 sqft
Price per Sqft $325
MLS Listing ID CL24471043
HOA Y/N No
Year Built 1983
Lot Size 10,137 Sqft
Acres 0.23
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 Listing
Zoning GLR3
Interior
Heating Other
Cooling Central Air
Flooring Tile
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5677001002
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Listed by Kenny Stevens • Compass