214 E Chevy Chase Dr — Sale in Glendale, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Glendale, CA 91205

Photos

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Investment Figures

Cap rate
5.68%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to announce the opportunity to purchase 214 E Chevy Chase Drive, a 16-unit multifamily property in desirable Glendale, CA. Situated near the intersection of Brand Boulevard and Chevy Chase Drive, the building grants tenants convenient access to Glendale’s numerous amenities, including the nearby Americana at Brand and the Glendale Galleria, each within one mile. Due to the fact that the property is subject only to AB 1482, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable annual rent increases, when compared with other assets subject to Los Angeles City rent control. The plumbing system has already been upgraded with copper pipes, and the property also does not appear on the Seismic Retrofit List, saving a new owner from an otherwise significant capital expense (Buyer to verify). A large on-site storage unit could potentially be converted to an ADU (Buyer to verify), adding significant value in a high-demand rental submarket. The property benefits from its proximity to the high-end shopping and dining destinations nearby – notably the Americana at Brand and the Glendale Galleria – while providing tenants with a more peaceful and serene atmosphere near the Adams Hill neighborhood, removed from the densely urban neighborhood in Downtown Glendale. Residents also enjoy access to the nearby boutiques, coffee shops, and restaurants in historic Adams Square, just blocks from the property. Investment Highlights: • Not Subject to Los Angeles Rent Control -- Higher Allowable Annual Rent Increases Under AB1482 • Full Copper Plumbing • Potential to Convert Large Storage Unit to ADU (Buyer to Verify) • Only One Mile from High-End Americana at Brand and Fully Remodeled Glendale Galleria • Blocks from Historic Adams Square and Picturesque Adams Hill Neighborhood • Deemed a "Walker's Paradise" — Highest Possible Walk Score Designation • No Seismic Retrofit Repairs Required (Buyer to Veri

Market Context

This multifamily in Glendale, CA is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Glendale, CA — view the full market.

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