Excellent Glendale Area | Non LA Rent Control 214 E Chevy Chase Dr Immeuble residentiel 16 lots 3 530 346 € (220 647 €/Lot) Taux de capitalisation 5,68 % Glendale, CA 91205

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.