$13,499,000 Price Analysis   ♡   Glendale, CA 91204 45 bed 41 bath 23,234 SqFt ($581/SqFt) 0.45 acre lot. Built 1987 Listed 2024-02-08, Taxes $28,474 | Ⓧ USDA Ineligible due to price & location near Glendale |
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 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 open 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 ownr 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!
Presented by George Ouzounian at
The Agency.
Property MLS #SR24026585 from CRMLS
Granite Counters
Open Floorplan
Unfurnished
Door Features: Sliding Doors
Flooring: Laminate, Tile
Appliances YN: Yes
Laundry Features: Common Area, Inside
Heating Features: Central, Forced Air
Heating: Yes
Additional Parcels: Yes
Lot Description: 21-25 Units/Acre, Park Nearby
Lot Size Acres: 0.4522
Lot Size Source: Assessor
Lot Size Square Feet: 19697
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 3
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 2
Total Bathrooms in Unit-3: 2
Maintenance Expense: 6000.00
County: Los Angeles
Cap Rate: 4.10
Source Property Type: Residential Income
Insurance Expense: 3976.00
Area: 628 - Glendale-South of 134 Fwy
Source Neighborhood: 628 - Glendale-South of 134 Fwy
New Taxes Expense: 168750.00
Number of Separate Electric Meters: 25
Number of Separate Gas Meters: 25
Number of Separate Water Meters: 1
Parcel Number: 5696019044
Postal Code Plus 4: 1900
Trash Expense: 6000.00
Zoning: GLR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,512,561 + $880,228 $2,392,789 | $28,474 |
| 2021 | $1,482,903 + $862,969 $2,345,872 | $27,878 |
| 2020 | $1,467,698 + $854,121 $2,321,819 | $27,487 |
| 2019 | $1,438,920 + $837,374 $2,276,294 | $26,504 |
| 2018 | $1,410,706 + $820,955 $2,231,661 | $25,944 |
| 2017 | $1,383,046 + $804,858 $2,187,904 | $25,571 |
| 2016 | $1,355,928 + $789,077 $2,145,005 | $24,548 |
| 2015 | $1,335,561 + $777,225 $2,112,786 | $24,066 |
| 2014 | $1,309,400 + $762,001 $2,071,401 | $24,014 |
| 2013 | $1,296,684 + $758,558 $2,055,242 | $23,440 |
| 2012 | $1,271,259 + $743,685 $2,014,944 | $23,132 |
| 2010 | $1,246,333 + $729,103 $1,975,436 | $22,673 |
| 2009 | $1,239,958 + $725,374 $1,965,332 | $22,886 |
| 2009 | $1,237,019 + $723,654 $1,960,673 | $22,886 |
| 2008 | $1,215,646 + $711,151 $1,926,797 | $22,416 |
| 2007 | $1,191,810 + $697,207 $1,889,017 | $21,882 |
$13,499,000
CRMLS
Sold 1997-12-10
$1,200,000
ITECH
Listed 1997-07-07
$1,649,000
ITECH
Sold 1987-03-23
$50,000
Public Record
Year Built: 1987
Building Features: 1
Common Walls: 2+ Common Walls
Property Age: 37
Property Attached: Yes
Property Condition: Turnkey
Levels or Stories: Three Or More
Building Total Stories: 3
Structure Type: Apartment
House Style: Traditional
Year Built Source: Public Records
Cable Available
Electricity Available
Natural Gas Connected
Phone Available
Sewer Available
Water Available
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.