650 W Wilson Ave - Apartments FOR SALE


Glendale, CA 91203- Vineyard
$2,399,000 USD
818-859-7242
650 W Wilson Ave, Glendale, CA for Sale
$2,399,000 USD
Apartments - FOR SALE
1/82
null | 5.62% Cap Rate

650 W Wilson Ave
Glendale, CA 91203
Vineyard


HIGHLIGHTS

  • Generational asset, first time ever on the market located in the heart of Glendale.
  • 5.62% current cap rate with a conservative 6.79% pro forma, strong in-place return with clear upside
  • Upside opportunity with an added ADU in parking area + multiple units due for increases!
  • 8-unit mix: six 2-bedroom units and two 1-bedroom units, ideal for consistent tenant demand
  • One vacant unit, allowing for immediate upside and flexibility. Several units renovated with new countertops, cabinets, and flooring
  • Located just 2 minutes (0.5 miles) from the Americana at Brand and Glendale Galleria. Minutes from Target, Whole Foods Market, Trader Joe's, & Costco

OVERVIEW

The 5+ Unit Specialists are pleased to present 650 W Wilson, 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 one vacancy and the possibility of an ADU(s), this is one of the best positioned assets in the entire submarket, 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, with one unit currently 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 4% 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.

FOR SALE DETAILS

PRICE

$2,399,000 USD

PRICE/SF

$333 USD /SF

# OF UNITS

8

PRICE/UNIT

$299,875

CAP RATE

5.62%

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prime Glendale 8-Unit | First Time on Market!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,368 SF

ZONING

GLR4*

APN/PARCEL ID

5638-003-053

ASK ABOUT THIS PROPERTY

Elizabeth MaddoxMyunits.com IncMore Info
818-859-7242

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Elizabeth MaddoxMyunits.com IncMore Info
818-859-7242

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.