1815 E Chevy Chase Drive
Glendale, CA 91206
- – beds
- – baths
- – sqft
- 14,858 sqft lot
- 1947 build
- – on site
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.
Last checked:
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Last updated Dec 16, 2024
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MLS# SR24248381 —
The Building
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Year Built:1947
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:8278.00
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Building Area Units:Square Feet
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Total Number Of Units:8
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:1 Common Wall
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# of Separate Gas Meters:9
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# of Separate Water Meters:1
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# of Separate Electric Meters:9
Interior
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Levels:Two
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Entry Location:street
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Laundry:Common Area
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Laundry:1
Location
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Latitude:34.15485400
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Longitude:-118.22677000
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:GLR4*
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Lot Features:6-10 Units/Acre
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Lot Size Area:14858.0000
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Lot Size Acres:0.3411
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Lot Size SqFt:14858.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:G
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Tax Census Tract:3010.00
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Tax Tract:7600
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Tax Lot:2
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5665018014
Utilities
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Sewer:Private Sewer
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Water Source:Private
The Community
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Features:Curbs, Foothills, Golf, Hiking, Gutters, Park, Sidewalks, Street Lights
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking Spaces:8.00
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Garage Spaces:8.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/11/24
Dec 11, 2024
|
Listed / Active | CRMLS_CA | $3,275,000 |
