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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!PROPERTY FEATURES
Number of Units : 25
Unit 1 : Number of Unit(s) : 1
Unit 1 : Total Bedrooms : 1
Unit 1 : Total Bathrooms : 1
Unit 2 : Number of Unit(s) : 2
Unit 2 : Total Bedrooms : 2
Unit 2 : Total Bathrooms : 2
Unit 3 : Number of Unit(s) : 3
Unit 3 : Total Bedrooms : 3
Unit 3 : Total Bathrooms : 2
Parking Garage Unit 1 : Assigned
Site : Sidewalks
Number of Units with Patios : 12
Cooling : Central Forced Air
Heat Equipment : Forced Air Unit
Zoning : Public Rec
PROPERTY DETAILS
Street Address: Address not disclosed
City: Glendale
State: California
Postal Code: 91204
County: Los Angeles
MLS Number: SR24026585
Courtesy of The Agency
City: Glendale
State: California
Postal Code: 91204
County: Los Angeles
MLS Number: SR24026585
Courtesy of The Agency
Courtesy of Coldwell Banker Hallmark