Listed by Myunits.com, Myunits.com Inc.
$2,399,000
650 W Wilson Ave
Details
APN 5638003053
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,852
Net Rentable (SqFt) 5,852
Units 8
Cap Rate 5.62%
NOI $134,725
Occupancy 75%
Tenancy Multi
Rent Bumps Yes
Pro-Forma Cap Rate 6.79%
Pro-Forma NOI $162,883
Price per SqFt $410
Class A
Year Built 1956
Buildings 2
Stories 2
Acreage 0.201
Zoning Assessor
Parking Spaces 6 spaces
Parking Per SqFt 1.03
Investment Type Stabilized
Prime Glendale 8-Unit | 0.05 Miles to The Americana | 1 Vacancy + ADU Upside
Marketing description
650 W Wilson is an extremely rare 8-unit generational asset, first time on the market, ideally located in the heart of Glendale just steps from The Americana at Brand, offered at $2,399,000. With two vacancies and the possibility of an ADU(s), this is one of the best positioned assets in the entire submarket, delivering a stronger GRM and higher cap rate than nearly every competing Glendale listing. Located on a quiet, tree-lined street just 2 minutes (0.5 miles) from The Americana at Brand, opportunities this close to Glendales premier retail and lifestyle hub almost never trade. The property consists of six 2-bedroom units and two 1-bedroom units, which will both be delivered vacant allowing for immediate upside! The asset is already performing at a 5.62% cap rate with a conservative 6.79% pro forma, both calculated using real operating expenses and including a 5% management fee, giving investors a clear and realistic path to increased returns without relying on aggressive assumptions. The majority of units have already been upgraded with new or refinished countertops, cabinetry, and flooring, meaning a significant portion of the renovation work is complete, while two remaining units still offer additional upside through light improvements. Electrical panel breakers have also been replaced in all units, helping minimize future capital expenditures. Tenants benefit from a highly walkable location with direct access to top-tier retail including The Americana, Glendale Galleria, Whole Foods, Trader Joes, and Target, which continues to drive strong and consistent rental deman
Investment highlights
- Generational asset, first time ever on the market located in the heart of Glendale.
- Upside opportunity with an added ADU in parking area + multiple units due for increases!
- 5.62% current cap rate with a conservative 6.79% pro forma, strong in-place return with clear upside
- 8-unit mix: six 2-bedroom units and two 1-bedroom units (both vacant), ideal for consistent tenant demand
- One vacant unit, allowing for immediate upside and flexibility. Several units renovated with new countertops, cabinets, and flooring
- All electrical panel breakers have been updated, reducing future capital needs
- Located just 2 minutes (0.5 miles) from the Americana at Brand and Glendale Galleria. Minutes from Target, Whole Foods Market, Trader Joe's, and Costco
- Quiet, tree lined street in a highly desirable Glendale rental pocket
- 6 on-site parking spaces, including 4 covered carport spots
Listing Contacts
Listed by Myunits.com, Myunits.com Inc.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$134,725.00
$11,227.08/mo
Valuation Metrics
0
DSCR
5.62%
Cap Rate
5.62%
ROI
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