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625 E Chestnut St
Off-Market Call for Pricing
Call for Pricing
- 7 Units
- 4,914 Sq Ft
- 6,970 Sq Ft
- Unknown Cap Rate
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 looking to make this property their home. The area is one of the most densely populated neighborhoods in Glendale with consistent high rental demand for apartment units.
Owner
Do you own or manage this property?
This is My PropertyAmenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,195,000 |
| Property Type | Multi-Family |
| Usable Sqft | 4,914 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1958 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 5675004020 |
| MLS # | 25513763 |
| Property ID | 292794765 |
| Lot Sqft | 6,970 |
| Zoning | GLR4YY |
| Total Units | 7 |
| Date Updated | April 17, 2025 |
| Date Created | March 19, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,875 | $2,150 |
| Unit #2 | 1 | 1.00 | $1,550 | $2,150 |
| Unit #3 | 1 | 1.00 | $1,800 | $2,150 |
| Unit #4 | 2 | 1.00 | $1,875 | $2,600 |
| Unit #5 | 1 | 1.00 | $2,150 | $2,150 |
| Unit #6 | 1 | 1.00 | $1,330 | $2,150 |
| Unit #7 | 1 | 1.00 | $2,400 | $2,400 |
| Gross Income (Yr) | $ 151,927 |
| Operating Expenses | $ 44,902 |
| Net Income (Yr) | $ 107,025 |
| Cap Rate | 4.88% |
Listing Provided By
Sevak Keshishian an agent of . Lic #01887505
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Robert Crawford
REAL ESTATE AGENT