Renovated 56-Unit Apartment
For Sale
$17,000,000
Pending
1595 E Chevy Chase Dr, Glendale, CA 91206
56-unit multifamily property with studio, one-, and two-bedroom units, plus subterranean parking and covered spaces.
Property Size49,930 SF
Days on Market186
Property Features for 1595 E Chevy Chase Dr
General Information
Standard status
Pending
Size
49,930 SF
Total Parking Spaces
58
Property subtype
MULTI_FAMILY
Occupancy
95%
Site & Location
Neighborhood
Woodbury
Highway Access
Yes
Additional Details
Multifamily Units
56
Amenities
subterranean parking
storage
Building Details
Building Size
49,930 SF
Year Built
1959
Year Renovated
1975
Tenancy
Multi
Listing Agency:
CBRE
Listed By:
Jenny Eng · License #01931251
(818) 907-4606
Source:
Milsteinestates
Added: May 5
Changed: Oct 31
Last Checked: Nov 4 at 8:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
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Investment Insights
Based on property information with market context.
Monarch Terrace is a 56-unit multifamily apartment property built in 1959 and renovated in 1975. The unit mix includes 10 studios, 34 one-bedroom units, and 12 two-bedroom units, totaling 49,930 square feet.
The property provides subterranean parking and storage, along with 56 covered parking spaces and 2 surface parking spaces. It also benefits from strong freeway connectivity and is located within the Glendale Unified School District.
Current occupancy is reported at 95%, with the property described as having potential for rent upside.
The property provides subterranean parking and storage, along with 56 covered parking spaces and 2 surface parking spaces. It also benefits from strong freeway connectivity and is located within the Glendale Unified School District.
Current occupancy is reported at 95%, with the property described as having potential for rent upside.
Key Highlights
- 56‑unit multifamily property built in 1959 and renovated in 1975
- Unit mix: 10 studios, 34 one‑bedroom, and 12 two‑bedroom totaling 49,930 SF
- 95% occupancy provides current income with noted rent upside potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$939,760
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,795,200
$18.8M
Cap Rate 7%
$13,425,143
$13.4M
Cap Rate 9%
$10,441,778
$10.4M
Market Conditions
NOI Build-Up for 49,930 SF
Gross rent
$1.83M $36.60/SF
− Vacancy
−$118.8K −$2.38/SF
EGI
$1.71M $34.22/SF
− OpEx
−$768.9K −$15.40/SF
NOI
$939.8K $18.82/SF
Area
Glendale, CA
Vacancy
6.50%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,795,200
Cap Rate 7%
$13,425,143
Cap Rate 9%
$10,441,778
Alternative Uses
Best Use
Apartment 5plus
$13.43M
$11.75M – $15.66M
NOI $939,760 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$30.03M
$26.28M – $35.03M
NOI $2,102,041 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
56
Residential units
95%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,271
Businesses Nearby
Explore this area
Business Placement
Demographics for 91206, CA
33,252
Population
13,767
Households
2.4
Avg Household Size
43
Median Age
47%
College-Educated
90%
High-School Grad
5.8 sq mi
ZIP Area
5,733
Density / Sq Mi
$86,684
Median Household Income
$52,517
Median Earnings
$2,159
Median Rent
$1,094,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Glendale, CA
Properties on Market for Apartment buildings in Glendale
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 56-unit multifamily property with studio, one-, and two-bedroom units, plus subterranean parking and covered spaces.
Where is this apartment building located?
The property is located at 1595 E Chevy Chase Dr Glendale, CA.
What is the asking price?
The asking price for this property is $17,000,000.
What are key features of this property?
This property features: 56‑unit multifamily property built in 1959 and renovated in 1975; Unit mix: 10 studios, 34 one‑bedroom, and 12 two‑bedroom totaling 49,930 SF; 95% occupancy provides current income with noted rent upside potential
