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$ 2,195,000
Est. payment /mo
Active
625 E Chestnut Street Glendale, CA 91205
4,914 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,914 sqft
Price per Sqft $446
MLS Listing ID CL25513763
HOA Y/N No
Year Built 1958
Lot Size 6,970 Sqft
Acres 0.16
Property Sub-Type Other
Property Description
We are pleased to present 625 E. Chestnut Street, a seven-unit multifamily investment opportunity located in the Mariposa neighborhood of Glendale. This value-add asset will provide the next investor with approximately 21% of rental upside through an interior renovation program. A one-bedroom unit will be delivered vacant at the close of escrow. Constructed in 1958, 625 E. Chestnut Street comprises five one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and one new one-bedroom/one-bathroom ADU unit. Sitting on a 6,968 square foot lot, the parcel is zoned R2250, making the existing seven units irreplaceable with the current zoning. The roughly 4,914 square feet of improvements boast one-bedroom units at 625 square feet, a two-bedroom unit at 975 square feet, and a two-bedroom ADU at 700 square feet. The ADU unit is equipped with a tankless water heater, central HVAC, and in-unit washer and dryer and all units have separate meters for gas and electricity. Recent capital improvements to the property also include a newer roof and updated electrical subpanels. Situated south of Colorado Street and east of Glendale Avenue, 625 E. Chestnut is less than a mile from the Americana and the Glendale Galleria making it an attractive asset to investors and prospective tenants l
Location
State CA
County Los Angeles
Zoning GLR4
Interior
Heating Wall Furnace, Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 5675004020
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Listed by Sevak Keshishian • Marcus & Millichap