Glendale, CA 91201,1016 Winchester AVE

$10,500,000

$11,400,000

7.9%
Est.Price: ?

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Est. payment /mo

0.5 Acres Lot


SOLD DATE : 12/15/2021

Key Details

Sold Price $10,500,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID AR21231299

Sold Date 12/15/21

HOA Y/N No

Year Built 1988

Lot Size 0.501 Acres

Property Description

1016 Winchester Ave apartment is located in the highly desirable city of Glendale, bordered by the City of Burbank. The property offers a superb location with access to many amenities, within walking distance to IKEA Burbank, Burbank Downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 FWY and 134 FWY). Most of the tenants are long-time tenants that are on month-to-month leases. This provides significant upside potential to add value by increasing rent and return. 1016 Winchester Ave is a beautifully maintained townhome-style apartment community built in 1988. Due to its newer construction, it offers many desirable amenities such as gated parking, secured entrance, central A/C and heating in each unit, copper piping, and much more. It is situated on a quiet residential street surrounded by other single-family and condominium communities. It offers a superb unit mix on a large lot size of ±21,811 SF with a total building size of ±21,373 SF. The property has excellent curb appeal and has been well-maintained throughout current ownership with no known deferred maintenance. The strong unit mix and excellent location are perfect for an investor seeking growth, stability, and a hedge against inflation.

Location

State CA

County Los Angeles

Area 626 - Glendale-Northwest

Zoning GLR4*

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 45.0

Garage Description 45.0

Pool None

Community Features Suburban

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

Total Parking Spaces 45

Private Pool No

Building

Lot Description Landscaped, Rectangular Lot

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5623026076

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Jeanelle Mountford • GIG Real Estate Inc.
Bought with Handoko Chen • GIG Real Estate Inc.
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