323 E Chestnut ST, Glendale, CA 91205
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323 E Chestnut ST, Glendale, CA 91205
323 E Chestnut ST, Glendale, CA 91205
323 E Chestnut ST, Glendale, CA 91205
323 E Chestnut ST, Glendale, CA 91205
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Paulette Malekian

Paulette Malekian

+1(818) 795-1454
$ 8,000,000
Est. payment /mo
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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

CRMLS Full IDX Feed (MAIN Website Search)
Listed by David Leibowitz Investment Real Estate Associates #01912487

NEARBY SCHOOLS & PROPERTIES

Paulette Malekian

Paulette Malekian

Agent | License ID: 01848544

+1(818) 795-1454

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323 E Chestnut ST