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$ 4,100,000
Est. payment /mo
Price Dropped by $300K
214 E Chevy Chase DR Glendale, CA 91205
18 Beds
16 Baths
10,674 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,674 sqft
Price per Sqft $384
MLS Listing ID 24470949
Bedrooms 18
HOA Y/N No
Year Built 1964
Lot Size 9,583 Sqft
Property Description
We are pleased to present Chevy Chase Manor, a sixteen-unit multifamily investment opportunity located in the Tropico neighborhood of South Glendale. This value-add opportunity is being offered at a 5.21% ca rate and will provide the next investor with roughly 30% in rental upside that can be captured through the implementation of an interior and exterior renovation program. Ownership has recently administered rental increases for all tenants except one which bill increased in August. Constructed in 1964, Chevy Chase Manor comprises fourteen one-bedroom/one-bathroom units and two two-bedroom/one-and-half bathroom units. Sitting on a 9,582 square foot lot, this 10,674 square foot building boasts average unit sizes of roughly 667 square feet. All units have separate meters for gas and electricity. There is on-site laundry at the garage, two central hot water heaters, and seventeen tenant storage cabinets. The property offers seventeen parking spaces, two of which have been converted into large owner's storage units, and fire sprinklers throughout the parking lot. The property is zoned R2250, making the existing sixteen units irreplaceable with the current zoning. This is truly the highest and best use for this parcel. Situated on the south side of Chevy Chase Dr. between S. Brand Blvd. and S. Glendale Ave., Chevy Chase Manor is within a short distance of Downtown Glendale, the Americana and the Glendale Galleria making it an attractive asset to investors and prospective tenants looking to make this property their home. It is also within two miles from the nearest on-ramp to the I-5 Freeway, offering commuters ease of access to North Glendale, Burbank, Los Feliz and Downtown Los Angeles.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning R2250
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Disposal
Laundry In Garage
Exterior
Parking Features Covered
Total Parking Spaces 17
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5640014011
Special Listing Condition Standard
Listed by Sevak Keshishian • Marcus & Millichap
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