Active
327 S Madison Way
Glendale CA, 91205
$3,650,000
$322.87 per sqft
Active
16 Beds
20 Baths
11,305 sqft
Multi-family
Built in 1983
*** Just reduced by $225,000 - Bring ALL offers - current ownership is motivated to meet the market *** 327 S. Madison Way is an 8-unit townhouse complex in Glendale (built in 1983) located down the street from the new East End Studios. This well-maintained property 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 spacious townhome averages approx. 1,281 SF, and tenants are responsible for paying the costs of gas, electricity, and water. Ownership upgraded several units including, wood laminate flooring, updated cabinetry, stainless steel appliances, and recessed lighting. This turnkey property is equipped with subterranean parking (no retrofitting required), copper plumbing, a new roof in 2019, and upgraded decks in 2020 (per ownership). 327 S. Madison is located 1.4 miles from The Americana at Brand, Glendale Galleria, Glendale Fashion Center, and an array of dining/entertainment amenities along Brand Blvd. Please note that the City of Glendale currently allows an 8.8% annual rental increase (5% + CPI). The property offers approx. 23% rental upside compared to renovated units in the area. The property will stabilize at 6.15% CAP and 11.29 GRM at the list price.
24-370485
MLSⓇ ID
March 19, 2024
Listed
September 13, 2024
Updated
Map
327 S Madison Way
Glendale CA, 91205
Interior Features
Total Stories
2
Bedrooms
16
Total Bathrooms
20
Appliances
Built-Ins, Dishwasher, Dryer, Washer, Range/Oven, Garbage Disposal, Hood Fan, Freezer
Laundry Description
In Unit
Floor Description
Wood Laminate, Tile
Fireplace
No
Cooling
Yes
Cooling Description
Central
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.24 Acres
Other Property Details
Area Name
Glendale-South of 134 Fwy
Days on Market
37
Garage
Yes
Garage Spaces
16
Parking
Garage - 2 Car
Parking Total
16
View
No
View Description
None
County
Los Angeles
Pool
No
Zoning
GLR3*
Listed by Kenny Stevens with Compass
Listing Contact: 310-968-7005
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Christie’s International Real Estate Southern California shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 9/13/2024