516 W Lexington Dr - Apartments FOR SALE


Glendale, CA 91203- Vineyard
$1,449,000 USD
818-549-9000
516 W Lexington Dr, Glendale, CA for Sale
$1,449,000 USD
Apartments - FOR SALE
1/9
null | 4.55% Cap Rate

516 W Lexington Dr
Glendale, CA 91203
Vineyard


HIGHLIGHTS

  • 4 Units 4 Parking Glendale Fixer
  • 1 to 2 units can be vacated One currently vacant

OVERVIEW

Open House 3.1.2026 11AM to 1PM for those who need to see inside prior offer. Offers due Tuesday March 3, 2026 The property consists of four (4) one-bedroom / one-bathroom units situated on approximately 6,149 square foot lot with (5) on-site parking spaces — a highly desirable amenity in this central location. Built in 1926, the property offers classic Glendale character with strong repositioning potential. Located just moments from The Americana at Brand, Glendale Galleria, the 134 Freeway, major employment corridors, retail, dining, and public transit, the property benefits from consistent rental demand and premium one-bedroom pricing. One unit is currently vacant, and a second unit may become vacant prior to close of escrow (not guaranteed), allowing an investor or owner-user the opportunity to implement upgrades and adjust rents early in the hold period. Current rents are below projected market levels, offering a clear path to increased income. At market rents, the property achieves an estimated 5.6% cap rate. Additionally, the lot co-migration suggests potential to add one to two Accessory Dwelling Units (ADUs), subject to buyer variation with the City of Glendale. This presents a compelling long-term value enhancement strategy. The property will be sold as-is.

FOR SALE DETAILS

PRICE

$1,449,000 USD

PRICE/SF

$559 USD /SF

# OF UNITS

4

PRICE/UNIT

$362,250

CAP RATE

4.55%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,149 SF

ZONING

R4

APN/PARCEL ID

5637-012-059

ASK ABOUT THIS PROPERTY

Arthur MangassarianRE/MAX CommercialMore Info
818-549-9000

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Arthur MangassarianRE/MAX CommercialMore Info
818-549-9000

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