CA > Glendale
Glendale, CA 91206,1815 E Chevy Chase DR
Glendale, CA 91206,1815 E Chevy Chase DR
Glendale, CA 91206,1815 E Chevy Chase DR
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
$3,275,000
Est. payment /mo
0.34 Acres Lot
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UPDATED:

12/12/2024 03:09 AM

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSR24248381

Originating Board California Regional MLS

Year Built 1947

Lot Size 0.341 Acres

Property Description

We are pleased to present for acquisition the Colonial Oak Apartments., situated in one of the most niche neighborhoods within the city of Glendale. In the super low turnover and historically vacancy-proof pocket, the opportunity offers a pride of ownership acquisition in one of the most landlord-friendly cities in California. Well maintained, the property has a pitched roof, upgraded electrical sub-panels, newer windows, professionally landscaped, ample on-site parking & laundry facility. All units are 2 bedrooms, averaging over 1,000 sf, sitting on an almost 15,000 sf corner lot. Although the offering is already priced well at 14.2 GRM (as of 5.1.25), there is considerable rental upside by way of loss to lease and or modernization of interiors, the GRM falls to 12. Furthermore, California recently passed SB 211, allowing for a maximum of (8) ADUs but not to exceed the total number of existing units. With the implementation of a couple of ADUs (buyer to verify), the building would pay for itself in 8 years! The Colonial Oak Apartments are just under 4 miles to the Chevy Chase Country Club (CCCC), a hidden gem in the Verdugo Mountains. Some of the long list of amenities are the 18 hole golf course & driving range, tennis courts, swimming pool, clubhouse, exquisite dining opti

Location

State CA

County Los Angeles

Area 624 - Glendale-Chevy Chase/E. Glenoaks

Interior

Laundry Laundry Area

Exterior

Garage Spaces 8.0

Pool None

Building

Water Private

Others

Tax ID 5665018014

Special Listing Condition Not Applicable

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Listed by Levon Alexanian • Keller Williams World Media Center

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agent
Sharad Gupta

Broker | License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA, 95054, USA

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