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$ 8,000,000
Est. payment /mo
New
323 E Chestnut ST Glendale, CA 91205
27 Beds
24 Baths
13,925 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 13,925 sqft
Price per Sqft $574
MLS Listing ID 26873611
Bedrooms 27
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1962
Lot Size 0.398 Acres
Property Description
323 E Chestnut Street, a well-maintained, 22-unit multifamily community located in one of Glendale's most desirable and highly walkable neighborhoods. Built in 1962, the property contains approximately 13,925 square feet of building area and features an attractive unit mix consisting of one studio, 19 one-bedroom/one-bathroom units and two two-bedroom/two-bathroom units. Ownership has completed substantial interior renovations, with 21 of the property's 22 units upgraded, providing an investor with the opportunity to acquire a largely renovated asset with limited near-term interior capital requirements along with approximately 10% upside in rents. The property is centered around a spacious courtyard and swimming pool, creating an appealing residential environment that distinguishes it from many competing apartment buildings. Additional amenities include on-site laundry facilities, resident storage and 16 on-site parking spaces. 323 E Chestnut Street also benefits from an exceptional Downtown Glendale location within walking distance of The Americana at Brand, the Glendale Galleria and a wide variety of restaurants, cafs, entertainment venues and everyday services. With a Walk Score of 96, designated a "Walker's Paradise," residents can complete most daily errands on foot, providing the property with a meaningful competitive advantage and supporting its long-term rental appeal. 323 E Chestnut Street presents investors with the opportunity to acquire a substantially renovated Glendale apartment community offering a favorable unit mix, attractive resident amenities, exceptional walkability, all in a highly sought after downtown Glendale location.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4YY
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator
Exterior
Parking Features Covered, Private
Pool In Ground
Total Parking Spaces 16
Building
Faces South
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 5641005021
Special Listing Condition Standard
Listed by David Leibowitz Investment Real Estate Associates #01912487
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