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$3,675,000

Beds
16
sq ft
11,305

327 S Madison Way, Glendale, CA 91205

327 S Madison Way

Glendale, CA 91205

  • 13 days on market
Built in 1983, 327 S. Madison 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 bright and spacious townhome averages approx. 1,413 SF, and tenants are responsible for paying the costs of gas, electric, and water. Current ownership has invested $200,000+ in capital improvements, and have upgraded several of the units with wood laminate flooring, updated cabinetry/backsplash, stainless-steel appliances, and recessed lighting. In addition, this turnkey property features a new roof installed in 2019 and new decks in 2020. We are offering 372 S. Madison at $325 per foot, the lowest PPSF compared to ales of similar properties in the area over the last 12 months. The property presents approx. 19% rental upside compared to market rents for renovated units in the area. At the list price, the property will stabilize at a 6.20% CAP and 11.19 GRM. This townhouse-style complex is located just east of Glendale Ave, the property is approx. 1.4 miles from The Americana, Glendale Galleria, Glendale Fashion Center, and an array of dining and entertainment options along Brand Blvd. In addition, 327 S. Madison sits steps from a recently completed 96,000 SF media facility by East End Studios.

Details

Property type

Est. home value

$3,576,351

Property condition

Updated/Remodeled

Lot size

0.2327 acres

Price per sq ft

$326

Year built

1983

HOA

No

Price History

12/10/2024
CLAW

CLAW #24471043

Listed
$3,675,000
+0.68%
07/12/2024
CLAW

CLAW #24370485

Removed
$3,650,000
04/25/2024
CLAW

CLAW #24370485

Price change
$3,650,000
-5.81%

Schools & Community

Neighborhood: 

Adams Hill

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Gated

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Pacific Premier Bank

Loan start date

February 2022

Original loan amount

$1,670,000

Est. remaining balance

Not provided

Interest rate

3.22%

Loan type

Commercial

Seller

Madison Way Apartments Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/22/2024 at 10:05 PM

Listing updated: 12/18/2024 at 10:05 PM

Listed by: Kenny Stevens, Compass Phone #: (310) 230-5478

MLS: CLAW #24471043

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