$10,500,000
$11,400,000
7.9%For more information regarding the value of a property, please contact us for a free consultation.
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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Bought with Handoko Chen • GIG Real Estate Inc.
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