Renovated 56-Unit Apartment
1595 E Chevy Chase Drive Glendale, CA 91206
1595 E Chevy Chase Drive, Glendale, CA, 91206
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For Sale
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56-unit multifamily property with studio, one-, and two-bedroom units, plus subterranean parking and covered spaces.
Property Size49,930 SF
Price / SF$370.52
Days on Market79
Property Features for 1595 E Chevy Chase Drive
General Information
- Standard status
- Active
- Size
- 49,930 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1959
Listing agency
CBRE - Glendale
(818) 907-4706
Listed by
Jenny Eng · License #CA 01931224
Source
Crexi
Added: May 5 Updated: Jul 22 at 6:39AM Checked: Jul 22 at 6:39AM
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 - Glendale
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.83M | $36.60 |
| − Vacancy | −$118.8k | −$2.38 |
| EGI | $1.71M | $34.22 |
| − OpEx | −$768.9k | −$15.40 |
| NOI | $939.8k | $18.82 |
49,930 SF · lease $36.60/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$13.43M
$11.75M – $15.66M
NOI $939,760 @ 7.0% cap · market cap 5.08%
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 11.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Monarch Terrace
Apartments
Bender Appliance Repair
Home Appliance Store
Victoria & Associates
Department Store
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FAQs
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 Drive Glendale, CA.
What is the asking price?
The asking price for this property is $18,500,000.
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
