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32616459
32616444

331 W WINDSOR RD, GLENDALE, CA 91204

SK
CA 01887505
Marcus & Millichap - Encino
Listed by Marcus & Millichap - Encino
$2,425,000
21 days on market
Updated 21 days ago

331 W WINDSOR RD GLENDALE CA 91204

Details
APN 5696-017-004
Property Type Multifamily
Square Footage 4,708
Net Rentable (SqFt) 4,708
Units 7
Cap Rate 5.55%
NOI $134,592
Pro-Forma Cap Rate 6.36%
Pro-Forma NOI $154,270
Price per SqFt $515
Year Built 1957
Buildings 2
Lot Size (SqFt) 7,559
Zoning R2250

About This Property

Marketing description

Marcus & Millichap presents 331 W. Windsor Road, an exceptionally well-maintained 8-unit multifamily investment opportunity in the desirable Pacific-Edison neighborhood of southwest Glendale. This asset is subject to Glendale’s Rental Ordinance (aligned with statewide AB 1482 provisions) allowing annual increases of 5% + CPI. This positions an investor to capture the remaining upside relatively quickly through standard adjustments. Additional income streams include monthly laundry income and parking income from five private one-car garages.

Built in 1957, the asset totals 4,708 square feet and includes eight one-bed/one-bath units, of which five units have received extensive renovations that include modern appliances, quartz countertops, new kitchen cabinetry, new windows, and renovated bathrooms. Other capital expenditures include tankless water heaters, upgraded drain and sewer lines, new paint, new gutters, upgraded plumbing lines, new stairs, repaired walkways, electrical upgrades, artificial grass, and a new security system.

Additional features include five private one-car garages, two surface parking spaces and on-site laundry with machines that are owned. The 7,559-square-foot lot is zoned R2250, rendering the current 8-unit configuration irreplaceable under existing zoning—this truly represents the highest and best use.

Positioned just east of S. Central Avenue and three blocks north of W. Chevy Chase Drive, the property is under a mile from both The Americana at Brand and the Glendale Galleria. It offers excellent proximity to major thoroughfares and sits in one of Glendale’s highest rental demand neighborhoods, prized for its local retail and access to business and amenities.

Investment highlights

  • Very Well-Maintained Asset
  • All One Bedroom Units
  • Five of Eight Units Recently Renovated
  • Five Private One-Car Garages
  • Lots of Recent Upgrades
  • Landlord Friendly City – Glendale is Subject to AB1482 and Allows Higher Rental Increase Amounts than the City of Los Angeles or Unincorporated Los Angeles County

Listing Contacts

SK
CA 01887505
Marcus & Millichap - Encino
Listed by Marcus & Millichap - Encino

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$134,592.00
$11,216.00/mo

Valuation Metrics

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DSCR
5.55%
Cap Rate
5.55%
ROI

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