1815 East Chevy Chase Drive

Glendale, CA 91206

$3,275,000
Price
2
Beds
8
Baths
8,278 Sq. Ft.
$396 / Sq. Ft.
8,278
Sq. Ft.
$396
per Sq. Ft.

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.
  1. 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 Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8278
Assessor Parcel Number
5665-018-014
Property Attached YN
true
LISTING UPDATED: 12/11/2024 12:05 PM

Property Details for 1815 East Chevy Chase Drive

StatusActive
MLS #SR24248381
Days on Market9
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1947
CountyLos 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

Income / Expense / Tax Details
Income Details
  • Gross Income: $229,716
  • Gross Scheduled Income: $229,716
  • Net Operating Income: $169,060
Expense Details
  • Operating Expense: $56,062
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $56,062
Tax / Assessment Info
  • Tax Block: G
  • Tax Tract Number: 7600
  • Tax Census Tract: 3010.00
  • CFD/Mello-Roos Fee: $1,259
  • Tax Lot: 2
Community / Development
Community / Development
  • Community Features: Curbs, Foothills, Golf, Hiking, Gutters, Park, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: street
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Private
  • Sewer: Private Sewer
  • Water Source: Private
Parking Info
  • Garage Spaces: 8
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 8
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,369
  • Unit Type Total Rent: $18,953
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1

Property History for 1815 East Chevy Chase Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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1815 East Chevy Chase Drive is a multi-family home for sale in Glendale, CA 91206. This property was listed for sale on December 11, 2024 by Keller Williams World Media Center, it's currently listed at $3,275,000. It has been on the market for a total of 9 days and was last sold on January 21, 2004. This listing's school district is Glendale Unified School District. Nearby schools include Glenoaks Elementary School, Woodrow Wilson Middle School and Glendale High School. 1815 East Chevy Chase Drive is a 2-bed, 8-bath, 8,278 sqft multi-family home built in 1947.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams World Media Center, Levon Alexanian, DRE #00911091

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.