650 W Wilson Glendale, CA 91203
8,764 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB26104554
HOA Y/N No
Year Built 1956
Lot Size 8,764 Sqft
Property Sub-Type Apartment
Property Description
generational asset, offered for the first time ever in one of Glendale's most desirable rental
pockets just steps from The Americana at Brand.
What truly separates this opportunity is its immediate development potential. Both rear 1-
bedroom units, that make up the back structure, will be delivered vacant, allowing a buyer
to begin construction immediately after closing without the cost, delays, or uncertainty
of tenant relocation. A contractor bid has already been completed to combine the
two vacant units into a spacious 3 Bed / 3 Bath residence while adding an
additional 3 Bed / 3 Bath ADU in the existing parking area. Buyers have the
flexibility to either create two large 3 Bed / 3 Bath units or simply keep the
existing 1-bedroom units and add a 9th unit, allowing them to tailor the project
to their investment strategy while significantly increasing rental income.
Unlike most value-add opportunities that require years of turnover, this project can
begin on day one. Buyers also have the flexibility to complete only the ADU, only
the conversion, or both projects depending on their investment strategy. Our team
can also assist with project management using the same contractor who prepared the
bid, creating a streamlined path from acquisition to completion.
Beyond the development upside, the property offers strong in-place cash flow with a 5.80%
current cap rate and a 7.26% pro forma, both calculated using real operating expenses and a
4% management fee. The six existing 2-bedroom units have seen numerous interior upgrades
including cabinetry, countertops, flooring, and updated electrical panel breakers, minimizing
future capital expenditures while providing additional rental upside.
Combining an irreplaceable Glendale location, immediate income, and one of the easiest
value-add opportunities currently available, 650 W Wilson represents a rare chance to
acquire a true legacy asset with multiple paths to increasing long-term value.
Location
State CA
County Los Angeles
Area 624 - Glendale-Chevy Chase/E. Glenoaks
Interior
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Sidewalks
View Y/N Yes
View City Lights, Neighborhood
Accessibility None
Total Parking Spaces 4
Private Pool No
Building
Lot Description Landscaped
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5638003053
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
Virtual Tour https://www.myunits.com/buy/650wilson
NEARBY SCHOOLS & PROPERTIES