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,… Read More 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 Glendale’s 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 Joe’s, and Target, which continues to
drive strong and consistent rental demand. The property includes six on-site parking spaces,
four of which are covered, and maintains its classic 1950s character that continues to
resonate with today’s renters.
This is a true legacy Glendale asset combining irreplaceable location, in-place income, and
real remaining upside at a basis that is becoming increasingly difficult to find in this prime of a
location. Read Less
Property listed by Myunits.com Inc., Lauren Cearley 310-259-7556
Listing Snapshot
Days Online
0
Last Updated
Property Type
Apartment
Lot Size
0.2 Acres
Year Built
1956
MLS Number
BB26104554
Additional Details
Building
Built in 1956, 2 buildings, 2 stories, Levels: Two, Entry level: 1, Entry location: 1
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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