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420 W Windsor Road

Glendale, CA 91204
  • $13,499,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: SR24026585
UPDATED: 42 min ago
$13,499,000
  • 0
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1987
County:

School Ratings & Info

Listing Agent(s): George Ouzounian of The Agency (424-230-3700) and Grigor Aleksanian of The Agency(818-379-7700)


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%. Dont miss out on the opportunity to purchase this exceptional building!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T15:35:44.413. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
www.rusnellproperties.com/homes/147392340
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420 W Windsor Road Glendale, CA 91204

  • Price: $13,499,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 42 min ago
  • ID#: SR24026585
0
Beds
0
Baths
0
½ Baths
0.45
Acres
1987
Built
Neighborhood:
628 - Glendale-South of 134 Fwy
County:
Los Angeles
Area:
628 - Glendale-South of 134 Fwy
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%. Dont miss out on the opportunity to purchase this exceptional building!
Exterior Features

Architectural Style Traditional Entry Level 0 Entry Location 0 Lot Features 21-25 Units/AcreNear Park Number Of Separate Electric Meters 25 Parking Features Assigned Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No View HillsMountain(s)NeighborhoodValleyTrees/Woods View YN Yes

Interior Features

Accessibility Features None Appliances Gas OvenGas RangeRefrigerator Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Door Features Sliding Doors Fireplace Features None Fireplace YN No Flooring LaminateTile Heating CentralForced Air Heating YN Yes Interior Features BalconyGranite CountersOpen FloorplanUnfurnished

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Cap Rate 4.1 Common Interest Community Apartment Community Features BikingHikingStreet LightsSidewalksPark Garage YN No Gross Income 4800 Gross Scheduled Income 741276 Insurance Expense 3976 Land Lease YN No Laundry Features Common AreaInside Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Maintenance Expense 6000 Net Operating Income 559550 New Construction YN No New Taxes Expense 168750 Number Of Separate Gas Meters 25 Number Of Separate Water Meters 1 Number Of Units Leased 25 Operating Expense 208726 Property Condition Turnkey Property Sub Type Apartment Rent Control YN No Security Features Carbon Monoxide Detector(s)Smoke Detector(s) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 6000 Utilities Cable AvailableElectricity AvailableNatural Gas ConnectedPhone AvailableSewer AvailableWater Available Water Sewer Expense 24000 Water Source Public Zoning GLR4*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T15:35:44.413. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
 
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Rusnell Real Estate Group | Vista Sotheby's
16 Malaga Cove Plaza
Palos Verdes Estates CA, 90274
Listing Agent(s): George Ouzounian of The Agency (424-230-3700) and Grigor Aleksanian of The Agency(818-379-7700)