1815 East Chevy Chase Drive
$3,275,000
2
8
8,278
8,278
$396
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...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, fitness center and entertainment venue. The local home value per homes.com is $1,632,000, enforcing considerable affordability gap to own a single-family home in this area, a major driver of rents as well. The Colonial Oak Apartments are the only multifamily investment opportunity available for acquisition in the area and in the zip code. Located in a very peaceful and residential area yet close to major retail, schools, shops and entertainment. The opportunity provides for consistent cashflow and forever built-in demand for occupancy.
- Listed by Levon Alexanian • DRE #00911091 • Brokerage DRE #01521876 • Keller Williams World Media Center • info@alexanianadvisors.com
Property Details for 1815 East Chevy Chase Drive
Parking Spaces Total
8
Private PoolNo
Total Units8.0
Building TypeAttached
Lot Size SourceAssessor
Living Area8278
Assessor Parcel Number5665-018-014
Property Attached YNtrue
LISTING UPDATED: 12/11/2024 12:05 PM
Property Details for 1815 East Chevy Chase Drive
Status | Active |
---|---|
MLS # | SR24248381 |
Days on Market | 9 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1947 |
County | Los Angeles County |
Building Information for 1815 East Chevy Chase Drive
Building/Complex1815 E Chevy Chase DrFloor-Stories2Residences-Pet Policy-Year Built1947Building Size-
Property Information for 1815 East Chevy Chase Drive
Property History for 1815 East Chevy Chase Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1815 East Chevy Chase Drive
Taxable ValueLand$1,207,278Additions$820,950Total$2,028,228
Tax Record2024$23,280 ($1,940 / month)
Home Facts
Total Finished SqFt8,278 SqFtAbove Grade Finished SqFt8,278 SqFtLot Size14,844 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningGLR4*CountyLOS ANGELESAPN5665-018-014
Schools near 1815 East Chevy Chase Drive
This home is within Glendale Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 12 |
Rating | School | Distance |
---|---|---|
Glenoaks Elementary School PublicK to 6 | ||
Woodrow Wilson Middle School Public6 to 8 | ||
Glendale High School Public9 to 12 | ||
College View School PublicK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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