650 W Wilson Ave, Glendale
Prime Glendale 8-Unit | 0.05 Miles to The Americana | MASSIVE VALUE-ADD
OPPORTUNITY | ADU BID IN HAND | 2 UNITS DELIVERED VACANT
RARE 8-unit Glendale asset priced at $2,299,000 delivering a 5.80% cap and 6.92% pro forma. Featuring two units delivered vacant in a separate rear structure and an ADU bid already in hand, this is one of the best positioned value-add opportunities in the entire submarket. Located just 0.05 miles from The Americana at Brand on a quiet residential street. Majority of units upgraded with additional ADU potential and strong in-place income in a high-demand rental pocket.
The Important
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$2,299,000
8-Unit
For Sale
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
Generational asset, first time ever on the market, located in the heart of Glendale
Massive value-add opportunity! Both 1Bed/1Bath units in the rear building will be
delivered vacant. ADU bid already in hand to convert both vacant units and add
an additional unit, creating the potential for a 9th unit. Buyer can begin
construction immediately after closing
5.80% current cap rate with a conservative 6.92% pro forma, offering strong inplace
returns with clear upside
8-unit mix consisting of six 2-bedroom units and two 1-bedroom units, ideal for
consistent tenant demand
Several units have been renovated with new countertops, cabinetry, and flooring,
while additional units offer further upside through light improvements
All electrical panel breakers have been updated, reducing future capital
expenditure needs
Located just 0.5 miles from The Americana at Brand and Glendale Galleria.
Minutes from Target, Whole Foods, Trader Joe's, and Costco
Quiet, tree-lined street in one of Glendale's most desirable rental pockets
6 on-site parking spaces, including 4 covered carport spaces
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
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