Listed By Compass, Kenny Stevens
327 S MADISON WAY Glendale, CA 91205
$3,650,000
16
Bedrooms
20
Total Baths
—
Full Baths
11,305
Square Feet
—
Acres
1983
Year Built
Active
Status
MLS#
24-370485
*** 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.
Details for 327 S MADISON WAY
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office Compass, 310-230-5478
MLS# 24-370485
Updated 11:56PM - 5/5/2024
Listing Agent Kenny Stevens, 310-968-7005
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