420 W Windsor RD Glendale, CA 91204
Active
$13,499,000
25 Units
6 Beds
5 Baths
23,234 Area(sq.ft.)
19,697 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 9 | 1 | 1 | No | $ 213,312 | $ 213,312 | $ 223,716 |
| Unit 2 | 12 | 2 | 2 | No | $ 351,768 | $ 351,768 | $ 364,080 |
| Unit 3 | 4 | 3 | 2 | No | $ 145,620 | $ 145,620 | $ 153,000 |
| 3 | 25 | 45 | 41 | $ 6,723,504 | $ 6,723,504 | $ 6,994,404 |
| MLS #: | SR24026585MR |
| Days On Market: | 26 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 581 |
| Price per unit: | $ 539,960 |
| Year Built: | 1987 |
Property Details
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!Interested in this Listing?
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Income Details
| Rent Control: | False |
| Total Annual Expense: | $ 208,726 |
| Net Operating Income: | $ 559,550 |
| Cap Rate: | 4.1% |
Structure
| Community Features: | Biking, Hiking, Park, Sidewalks, Street Lights |
| Security Features: | Carbon Monoxide Detector(s), Smoke Detector |
| Style: | Traditional |
| Sewer: | Public Sewer |
| View Description: | Hills, Trees/Woods, Valley |
| Water: | Public |
Land & Parking
| Zoning: | GLR4* |
| Land Lease Type: | Fee |
| Parking Garage: | Assigned |
Interior
| Cooking Appliances: | Oven-Gas, Range |
| AC/Cooling: | Central |
| Equipment: | Inside, Laundry Area, Refrigerator |
| Heating: | Central, Forced Air |
| Fireplace Rooms: | None |
| Laundry: | Inside, Laundry Area |
Exterior
| Pool: | No |
| Spa: | No |
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