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Listed by Levon Alexanian • Keller Williams World Media Center
$3,275,000
Est. payment /mo
8,278 SqFt
Active
1815 E Chevy Chase Drive Glendale, CA 91206
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UPDATED:
02/07/2025 10:05 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,278 sqft
Price per Sqft $395
MLS Listing ID CRSR24248381
HOA Y/N No
Originating Board Datashare California Regional
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 options,
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Other
Building
Water Private
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