Seller's Agent in 2023
Elizabeth Maddox
Myunits.com Inc.
(818) 850-8485
1 in this area
104 Total Sales
421 E Chevy Chase Dr Glendale, CA 91205
Mariposa Neighborhood
5
Beds
5
Baths
1,938
Sq Ft
4,002
Sq Ft Lot
Highlights
- Corner Lot
- Beamed Ceilings
- 4-minute walk to Palmer Park
- Horace Mann Elementary School Rated A-
- Landscaped
About This Home
As of August 2023421 E Chevy Chase Dr is a charming 5-unit property with major value-add potential in prime Glendale for an unheard-of price of $1,250,000! A price per door of only $250,000 is awe-inspiring, making this a deal you won’t find again anytime soon! With the possibility of an ADU, this building offers buyers major opportunity for growth. 421 E Chevy Chase Dr boasts a better price per unit, GRM and cap rate than all its Glendale comps.
The property, which is situated on a corner lot, is made up of five one bedroom, one bathroom units, one of which is vacant. The current cap rate is 4.49% (well above the comps) and there is huge upside potential. We project a very conservative pro forma cap rate of 5.70%.
These units are located less than a mile from the vibrant Glendale Galleria and the upscale Americana at Brand, two iconic shopping destinations in Glendale that offer an abundance of high-end boutiques and gourmet restaurants that will have tenants flocking to your doors for years to come. It is also just a short drive from many conveniences such as Target, Whole Foods, Trader Joes, Costco and much more.
The property boasts other notable features including: seven parking spots (two located in a carport) and character wood-beamed ceilings that make the units appear extremely spacious! This is a dream opportunity for experienced or entry level investors to purchase an incredibly well-priced deal that won’t empty your pockets. Sit back and collect rent from quiet, friendly tenants!
Last Agent to Sell the Property
Myunits.com Inc. License #01921425 Listed on: 07/13/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1958
Lot Details
- 4,002 Sq Ft Lot
- 1 Common Wall
- Landscaped
- Corner Lot
Parking
- 4 Open Parking Spaces
- 2 Car Garage
- 1 Carport Space
- Parking Available
- Assigned Parking
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 1,938 Sq Ft Home
- 2-Story Property
- Beamed Ceilings
- Electric Oven
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 8
- Tax Tract Number 302
- Assessor Parcel Number 5676008010
- $613 per year additional tax assessments
Community Details
Overview
- 5 Units
Building Details
- 5 Leased Units
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $495
- Gardener Expense $552
- Insurance Expense $1,454
- Maintenance Expense $4,000
- Trash Expense $3,059
- Water Sewer Expense $1,650
- New Taxes Expense $13,601
- Operating Expense $24,810
- Gross Income $81,708
- Net Operating Income $56,080
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/02/2023 08/02/23 | Sold | $1,375,000 | +10.0% | $709 / Sq Ft |
| 07/19/2023 07/19/23 | Pending | -- | -- | -- |
| 07/13/2023 07/13/23 | For Sale | $1,250,000 | -- | $645 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Elizabeth Maddox
-
Ian Maddox
I
Seller Co-Listing Agent in 2023
Ian Maddox
Myunits.com Inc.
(818) 859-7242
1 in this area
65 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: BB23125793
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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