327 S Madison Way, Glendale, CA 91205
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327 S Madison Way Glendale, CA 91205

$3,875,000
  • 16 Beds
  • 16 Baths
  • 11,305 Sq.Ft.
For Sale
$3,875,000 Get Pre-Qualified

Map preview of 327 S Madison Way, Glendale, CA 91205

Property Overview: 327 S Madison Way Glendale, CA has 16 bedrooms, 16 bathrooms, 11,305 living square feet and 10,304 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 327 S. Madison Way is an 8-unit townhouse complex in Glendale (built in 1983) located down the street from the new East End Studios. This well-maintained property 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 spacious townhome averages approx. 1,281 SF, and tenants are responsible for paying the costs of gas, electricity, and water. Ownership upgraded several units including, wood laminate flooring, updated cabinetry, stainless steel appliances, and recessed lighting. This turnkey property is equipped with subterranean parking (no retrofitting required), copper plumbing, a new roof in 2019, and upgraded decks in 2020 (per ownership). 327 S. Madison is located 1.4 miles from The Americana at Brand, Glendale Galleria, Glendale Fashion Center, and an array of dining/entertainment amenities along Brand Blvd. Please note that the City of Glendale currently allows an 8.8% annual rental increase (5% + CPI). The property offers approx. 23% rental upside compared to renovated units in the area. The property will stabilize at 6.19% CAP and 11.32 GRM at the list price.

Listed by Kenny Stevens | BRE #01090251 | Compass
Last checked: 3 minutes ago | Last updated: March 27th, 2024 | Source CRMLS | DOM: 9
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Home details

Lot Sq. Ft
10,304
HOA Dues
$0/mo
Year built
1983
Garage
16 Car
Property Type:
Multi Family
Status
Active
MLS#
24370485
City
Glendale
County
Los Angeles
Time on Site
8 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,729
  • Total Rent: $21,833
  • Pro Forma/Market Rent: $26,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 14.4
  • Gross Scheduled Income: --
  • Net Operating Income: $172,175
  • Gross Operating Income: $263,790
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 327 S Madison Way

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Room Information
  • Flooring: Tile
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal
Interior Features
  • Levels: Two
  • Security Features: Gated Community, Card/Code Access
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 16
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Garage - Two Door
Lot Information
  • Lot Size Source: Other
Property Information
  • No View
  • View: None
  • Total # of Units: 8
  • Parcel Number: 5677001002
  • Year Built Source: Other
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 327 S. Madison is 0.2 miles south of the NEW East End Studio (1239 S. Glendale) and just north E. Los Feliz Rd. and S. Glendale Ave.
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Sale History for 327 S Madison Way

Last sold for $3,400,000 on December 15th, 2021
  • March, 2024

  • Mar 19, 2024

    Date

    Active

    CRMLS: 24370485

    $3,875,000

    Price

  • August, 2023

  • Aug 9, 2023

    Date

    Expired

    CRMLS: 23245411

    $3,950,000

    Price

  • Feb 27, 2023

    Date

    Active

    CRMLS: 23245411

    $3,950,000

    Price

  • Listing provided courtesy of CRMLS

    327 S. Madison Way is a well-maintained townhouse complex in Glendale, which currently allows a 10% annual rent increase. Located just east of Glendale Ave and two blocks south of Chevy Chase Dr, the property is 1.4 miles from The Americana at Brand, Glendale Galleria, Glendale Fashion Center, and a wide array of dining/entertainment options along Brand Blvd. This well-maintained townhouse complex, built in 1983, features (8) 2-bdrm. and 2.5-bath townhouse-style units. Each bright and spacious unit is approx. 1,200+ SF each features central A/C, direct access to a private 2-car garage, an in-unit washer and dryer, and a private patio. Several upgraded units include wood laminate flooring, stainless steel appliances, and quartz countertops. The property presents a value-add opportunity, as current rents are approx. 21% below market compared to renovated units in the building. This turnkey property features a new roof installed in 2019 and controlled access. Located near notable employers (KABC-7, Adventist Health Glendale Hospital, and Walt Disney Animation) and blocks from Downtown Glendale, 327 S. Madison is a great turnkey property in the heart of a landlord-friendly community.

  • December, 2021

  • Dec 15, 2021

    Date

    Sold

    CRMLS: 21787562

    $3,400,000

    Price

  • Sep 23, 2021

    Date

    Active

    CRMLS: 21787562

    $3,700,000

    Price

  • Listing provided courtesy of CRMLS

    327 S. Madison Way is an 8-unit apartment asset located in the thriving City of Glendale. The property is located near The Americana shopping centers and Glendale Galleria with easy access to the 5, 134 and 2 Freeways. The subject property was built in 1983, featuring an outstanding unit mix of 100% 2-Bed / 2.5 Bath large townhome style units. The property offers each tenant a 2-car garage with direct access to the units, central air, private patios and laundry hookups. Tenants are responsible for paying the costs of gas, electric, and water. A new roof was installed in 2019, along with new decks in 2020. Two (2) of the eight (8) units were extensively renovated totaling over $80,000. Overall, the current rents are substantially below market providing an excellent opportunity for an investor to renovate the exterior, the balance of the interiors and gradually raise rents and increase cashflow.

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Tax History for 327 S Madison Way

Assessed Value (2020): $1,127,072
Year Land Value Improved Value Assessed Value
2020 $393,629 $733,443 $1,127,072

Home Value Compared to the Market

This property vs the competition

327 S Madison Way is listed 236.96% higher than the median list price for the city of Glendale which has a median list price of $1,150,000. The median price per/sqft for Glendale is $668 and this home is listed at $342.77 per/sqft which puts the price per square foot 48.69% lower than the median price per square foot for the city of Glendale.

About 327 S Madison Way

Detailed summary of property

327 S Madison Way is a multi family located in Glendale, CA 91205 and is currently for sale. This multi family property offers 16 bedrooms, 16 bathrooms, roughly 11,305 living square feet, and sits on an approximately 10,304 square foot lot. 327 S Madison Way was first listed on ArdentRealEstateGroup.com on March 19, 2024. The homeowner is currently asking $3,875,000. The median priced home in Glendale is $1,150,000 with a median price per square foot of $668. Based on Ardent Real Estate Group's Glendale Market Data, this home is listed 236.96% higher than the median priced home. Local competing homes currently for sale include 639 N Juanita Ave, 1214 N Kingsley Dr and 1400 N. Hobart Blvd. While the average home in Glendale, CA is selling in 75 days, 327 S Madison Way has a days on market of 9 days. There are currently 162 homes for sale in the Glendale real estate market and 101 of them are single family homes while 48 of them are condos and 13 are townhomes. For more information on this home for sale at 327 S Madison Way Glendale, CA 91205 contact Ardent Real Estate Group and we will put you in touch with one of our Glendale agents.

Public Facts for 327 S Madison Way

Public county record property details
Beds
--
Baths
--
Year built
1983
Sq. Ft.
11,305
Lot Size
10,133
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
40
APN
5677-001-002

The source for these homes facts are from public records.

91205 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$649
Median Sold Price
$989,989
Median Sold Price/Sq.Ft.
$738
Total Inventory
18
Median Sale to List Price %
100%
Avg Days on Market
17
Loan Type
Conventional (25%), FHA (0%), VA (0%), Cash (25%), Other (25%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.