420 Windsor Rd, Glendale, CA 91204
25 Unit Apartment Building | $12,999,000 ($519,960/Unit) | 4.15% Cap Rate | Glendale, CA 91204
For Sale
Active
Asking Price $12,999,000
- Property Type
-
Multifamily
- Square Feet
- 23,234 SF
Listing Contacts
Grigor Aleksanian
Property Overview
The Agency would like to introduce 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% increases, with a notable 10% surge in the
past year. 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!
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% increases, with a notable 10% surge in the
past year. 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!
Property Details
- Class
- C
- Year Built
- 1987
- Stories
- 3
- Lot Size (sq. ft)
- 20,038 SF
- Units
- 25
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