Homes for sale - 214 E Chevy Chase DR, Glendale, CA 91205

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Jessica Panzica

jessica@jessicapanzica.com +1(714) 313-8193

$4,100,000

Est. payment - /mo

18 Beds

16 Baths

10,674 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

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

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Listed by Sevak Keshishian • Marcus & Millichap

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Jessica Panzica

+1(714) 313-8193

Agent | License ID: 01854556

Agent License ID: 01854556

214 E Chevy Chase DR Glendale, CA 91205

Jessica Panzica

Key Details

Location

Interior

Exterior

Building

Others

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