Colonial Oak Apartments | 1815-1817 E Chevy Chase Dr
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Colonial Oak Apartments 1815-1817 E Chevy Chase Dr
8 Unit Apartment Building $4,642,214 CAD ($580,277 CAD/Unit) 5.20% Cap Rate Glendale, CA 91206
Investment Highlights
- (8) 2+1s - over 1,000 sf/unit
- Upgraded sub-panels, newer windows
- 5.2% cap, 6.4% @ market
- High demand rental pocket
- 14.2 grm, 12 @ market
- Multiple ADU potential
Executive Summary
The Alexanian Apartment Advisors are pleased to be retained as exclusive marketing advisors for 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 , 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.
* Contact Greg Alexanian for offering memorandum or any questions *
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 , 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.
* Contact Greg Alexanian for offering memorandum or any questions *
Property Facts
Price | $4,642,214 CAD | Apartment Style | Low Rise |
Price Per Unit | $580,277 CAD | Building Class | C |
Sale Type | Investment | Lot Size | 0.33 AC |
Cap Rate | 5.20% | Building Size | 8,278 SF |
Gross Rent Multiplier | 14.2 | Average Occupancy | 100% |
No. Units | 8 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1948 |
Property Subtype | Apartment |
Price | $4,642,214 CAD |
Price Per Unit | $580,277 CAD |
Sale Type | Investment |
Cap Rate | 5.20% |
Gross Rent Multiplier | 14.2 |
No. Units | 8 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.33 AC |
Building Size | 8,278 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1948 |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 8 | - | - |
1 of 1
PROPERTY TAXES
Parcel Number | 5665-018-014 | Improvements Assessment | $1,163,672 CAD |
Land Assessment | $1,711,280 CAD | Total Assessment | $2,874,952 CAD |
PROPERTY TAXES
Parcel Number
5665-018-014
Land Assessment
$1,711,280 CAD
Improvements Assessment
$1,163,672 CAD
Total Assessment
$2,874,952 CAD
zoning
Zoning Code | R4, Glendale |
R4, Glendale |
1 of 13
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Colonial Oak Apartments | 1815-1817 E Chevy Chase Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.