Kidder Mathews has completed the sale of 420 West Adams Street, an eight-unit multifamily property in Glendale, California, for $1,625,000. The deal closed in just nine days and represents the lowest cap rate recorded for an apartment transaction in Glendale in 2025, at 3.5%.
Darin Beebower and Arian Rejaei of Kidder Mathews represented the seller, Finch Charitable Remainder Trust 2024. The buyer was an all-cash investor based in Los Angeles.
The property attracted strong interest due to its desirable Glendale location and significant upside. With the potential to increase income as much as 70%, and a 6.55% proforma cap rate, the asset offers a significant value-add opportunity in a supply-constrained submarket.
“Stabilizing this asset will require a significant investment of both time and capital,” said Rejaei. “Given current market conditions—especially the challenges surrounding financing and insurance—we recognized the importance of finding the right buyer.”
“Through a targeted and strategic marketing campaign, our team generated significant interest from prospective buyers, resulting in exceptional sale terms for the owner—an all cash, non-contingent escrow that closed in nine days”, added Beebower.
This sale demonstrates that, despite market headwinds, investor interest remains strong for well-located properties with clear repositioning potential.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
