Sold for $1,525,000

Listed by: Coldwell Banker Hallmark • Vahagn Stephen • Contact: 818-246-3839

Bought with: Lyon Stahl Investment Real Estate, Inc.

$1,525,000

508 S Chevy Chase Dr, Glendale, CA 91205

5beds

4baths

2,860sqft

Quadruplex

Built in 1939

-- sqft lot

$1,554,900 Zestimate^®

$533/sqft

$2,803 Estimated rent

Home value

$1,554,900

$1.41M - $1.73M

$2,803/mo

Zestimate^® history

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$2,803/mo

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$2,803/mo

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$9,679/mo

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$9,679/mo

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What's special

Excellent opportunity to purchase a 4 unit apartment building with a significant upside in rental income. This 4 unit property is in the desirable southeast Glendale area. It provides a tremendous opportunity for an investor to acquire pride in ownership of an asset that has been professionally managed and cared for. As it’s the first time in the market after 24 years of ownership, The property is within a short distance to multiple bus stops located on Colorado, in addition to nearby retail shops and businesses. It provides tenants with ease of access to larger retail centers located at the Glendale Galleria, the Americana of Glendale, and Atwater Village. Tenants also have easy access and proximity to the 134 and 5 Freeways.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 4

Appliances

Laundry: Common Area

Features

Has fireplace: Yes
Fireplace features: Bath, Kitchen
Common walls with other units/homes: 1 Common Wall

Interior area

Total structure area: 2,860
Total interior livable area: 2,860 sqft

Property

Parking

Total spaces: 2
Parking features: Garage
Garage spaces: 2

Features

Levels: One
Stories: 1
Entry location: Drive way
Pool features: None

Lot

Size: 7,527 Square Feet
Features: Paved, Yard

Details

Parcel number: 5680010003
Zoning: GLR4YY
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex
Attached to another structure: Yes

Condition

New construction: No
Year built: 1939

Utilities & green energy

Sewer: Sewer Tap Paid
Water: Public
Utilities for property: Overhead Utilities

Community & HOA

Community

Features: Sidewalks

Location

Region: Glendale

Financial & listing details

Price per square foot: $533/sqft
Tax assessed value: $1,555,500
Annual tax amount: $17,358
Date on market: 1/24/2024
Cumulative days on market: 117 days
Listing terms: 1031 Exchange
Inclusions: Per Leases
Exclusions: Per Leases
Total actual rent: 78000
Tenant pays: Cable TV, Electricity, Gas

Price history

Date	Event	Price
6/28/2024	Sold	$1,525,000-4.7%$533/sqft
Source: CRMLS #GD24015207 Report a problem
6/27/2024	Pending sale	$1,600,000$559/sqft
Source: CRMLS #GD24015207 Report a problem
5/26/2024	Contingent	$1,600,000$559/sqft
Source: CRMLS #GD24015207 Report a problem
5/8/2024	Price change	$1,600,000-5.9%$559/sqft
Source: CRMLS #GD24015207 Report a problem
3/27/2024	Price change	$1,700,000-5.6%$594/sqft
Source: CRMLS #GD24015207 Report a problem
2/23/2024	Listed for sale	$1,800,000+737.2%$629/sqft
Source: CRMLS #GD24015207 Report a problem
2/18/1998	Sold	$215,000$75/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$17,358 +325.7%	$1,555,500 +362.2%
2024	$4,077 +2.1%	$336,547 +2%
2023	$3,992 +1.8%	$329,949 +2%
2022	$3,923 +2%	$323,481 +2%
2021	$3,845 +1.4%	$317,139 +1%
2020	$3,791	$313,888 +2%
2019	$3,791 +6.8%	$307,734 +2%
2018	$3,548	$301,701 +2%
2017	$3,548 +1.5%	$295,786 +2%
2016	$3,494 +4%	$289,987 +1.5%
2015	$3,361 +2%	$285,632 +2%
2014	$3,294	$280,038 +4.5%
2011	--	$267,950 +0.8%
2010	--	$265,948 -0.2%
2009	--	$266,581 +2%
2008	--	$261,355 +2%
2007	--	$256,231 +2%
2005	--	$251,208 +4%
2004	--	$241,455 +3.9%
2002	--	$232,384 +4%
2000	--	$223,362