Under Contract

327 S Madison Way

Glendale CA, 91205

$3,875,000


$342.77 per sqft

Under Contract

16 Beds

20 Baths

11,305 sqft

Residential

Built in 1983

Listed by Kenny Stevens with Compass 310-230-5478

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 6.19% CAP and 11.32 GRM at the list price.

24370485

MLS ID

March 19, 2024

Listed

March 29, 2024

Updated

Map

327 S Madison Way
Glendale CA, 91205

Interior Features

Total Stories

2


Bedrooms

16 Beds


Bathrooms

20 Baths


Appliances

Dishwasher, Disposal, Dryer, Washer


Floor Description

Tile


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.24 Acres

Other Property Details

Area Name

628 - Glendale-South of 134 Fwy


Days on Market

10


Garage

Yes


Garage Spaces

16


Parking

Door-Multi, Garage


Parking Total

16


View

No


View Description

None


County

Los Angeles


Pool

No


Zoning

GLR3*


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

3/29/2024

Under Contract

Listing Contact: 310-230-5478 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/29/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/29/2024 at 5:38 PM UTC

 

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