214 E Chevy Chase Dr - Apartments FOR SALE


Glendale, CA 91205- Tropico
$4,100,000 USD
818-522-1900
214 E Chevy Chase Dr, Glendale, CA for Sale
$4,100,000 USD
Apartments - FOR SALE
1/28
null | 5.61% Cap Rate

214 E Chevy Chase Dr
Glendale, CA 91205
Tropico


HIGHLIGHTS

  • 16 Units | Built in 1964 | 10,674 SF
  • Great Mix (14) 1BD/1Bath - (2) 2BD/1.5Bath - 100% Occupied
  • Priced at Only $256,250/unit | $384/SF
  • 12.08 Current GRM | 5.61% Current CAP | 20% Rental Upside
  • Separate Gas and Electric Meters | 2 Central Water Heaters, Partial Copper Plumbing
  • Minutes To Americana At Brand & Downtown Glendale | Great Glendale Rental Location

OVERVIEW

Kalachian Investment Group is pleased to present a great opportunity to purchase 16 units multifamily investment property in Glendale. Built in 1964, the property consists of great mix of (14) 1+1 and (2) 2+1.5 units, totaling approximately 10,674 sqft building size, situated on a 9,582 sqft lot. Priced at only $256,250/unit, $384/SF, 5.61% CAP and 12.08 GRM with current rents and 20% rental upside. Each unit is separately metered for gas and electricity, minimizing owner utility expenses. Additional amenities include 2 central water heaters, on-site laundry and 17 tenant storage cabinets. The property also provides 17 parking spaces, two of which have been converted into large owner’s storage. Located minutes to The Americana on Brand and Downtown Glendale, in a great income-producing location.

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$384 USD /SF

# OF UNITS

16

PRICE/UNIT

$256,250

CAP RATE

5.61%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,553 SF

ZONING

R2250

APN/PARCEL ID

5640-014-011

ASK ABOUT THIS PROPERTY

Melina Kalachian, CCIMKalachian Investment GroupMore Info
818-522-1900

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Melina Kalachian, CCIMKalachian Investment GroupMore Info
818-522-1900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.