Bought with Sara Berger
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510 Winchester AVE Glendale, CA 91201
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Key Details
Sold Price $5,300,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CNSR20261812
Sold Date 03/02/21
Year Built 1960
Lot Size 0.498 Acres
Source CRISNet
Property Description
We are pleased to present for acquisition, the highest in-place cap rate available in Glendale for similar assets. The Win-Lake Apartments is a 17 unit apartment community located in the dynamic and supply constrained pocket adjacent to the Rancho Equestrian. Within a few minutes tenants can bike to the the major animation and movie studios. A well maintained asset, Win Lake offers a modernization opportunity with minor effort and can realize a cap rate of 5.7% at market rents. At the low $314,706 per unit and primarily 2 bedroom units, and just under half an acre, the offering delivers an affordable footprint in the supply constrained, high barrier to entry rental market of Glendale. Close to Griffith Park, downtown Glendale & downtown Burbank. ** email listing agent for complete offering memorandum **
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Interior
Laundry Laundry Area
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5626015022
Special Listing Condition Not Applicable
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