650 W Wilson Ave, Glendale
Prime Glendale 8-Unit | Immediate ADU & Conversion Opportunity |
2 Units Delivered Vacant | Create a 9th Unit
First time ever on the market! Prime Glendale 8-unit just 0.5 miles from The Americana at Brand featuring two vacant rear units delivered at closing and an ADU bid already in hand. Buyers can immediately begin construction to either add a new 3 Bed/3 Bath ADU, convert the existing vacant 1-bedroom units into a spacious 3 Bed/3 Bath residence, or complete both projects. Strong 5.80% current cap rate with multiple value-add strategies to increase cash flow and push to a 7.28% cap to create a true legacy asset!
The Important
Details
List Price:
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# Units:
Year Built:
Cap Rate:
GRM:
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$2,250,000
8-Unit
Sold
8
1954
5.80%
12.21
$188,292/Year
5,852 sqft
8,764 sqft
$392.86
$287,375
6x 2b/1b, 2x 1b/1b
No
6 Spaces
No
Other Features:
MASSIVE VALUE-ADD
OPPORTUNITY | ADU BID IN HAND | 2 UNITS DELIVERED VACANT
The Highlights
Immediate development opportunity with two vacant rear units delivered at closing, allowing construction to begin immediately with no tenant relocation.
Contractor bid, conceptual plans, and renovation budgets already completed for a 3 Bed / 3 Bath conversion and an additional 3 Bed / 3 Bath ADU.
Potential to increase the property from 8 units to 9 units while substantially increasing rental income.
Multiple execution strategies available:
1. Build the new ADU only.
2. Convert the two 1-bedroom units into one luxury 3 Bed / 3 Bath residence.
3. Complete both projects for maximum long-term value
Project management assistance available through our team using the contractor who prepared the preliminary construction budget.
Strong in-place income with a 5.80% current cap rate and 7.26% pro forma cap rate using conservative underwriting.
First time ever on the market, offering an extremely rare opportunity to acquire a true generational Glendale asset.
Located just 0.5 miles from The Americana at Brand and Glendale Galleria, surrounded by premier shopping, dining, and major employment centers.
Majority of units have been upgraded with new cabinetry, countertops, flooring, and updated electrical panel breakers.
Six on-site parking spaces, including covered parking and additional storage for multiple units.
The Neighborhood
<15-Minute Walk
The Americana at Brand, AMC The Americana at Brand 18, Glendale Galleria
<15-Minute Drive
Moonlight Rollerway, Cècile Trattoria, The Pub at Golden Road- Atwater Village, Griffith Park, Costco Wholesale, Trader Joe’s, Chick-fil-A, In-N-Out Burger
<$15 Uber Ride
BJ's Restaurant & Brewhouse, California Pizza Kitchen at Glendale, Olive Garden Italian Restaurant, Starbucks Coffee Company, Target, Din Tai Fung, Broadway Burger, Barnes & Noble, Louis Vuitton Glendale Americana
Property Presented By:
