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$ 2,650,000
Est. payment /mo
Active
515 W Lexington DR Glendale, CA 91203
10 Beds
10 Baths
4,642 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,642 sqft
Price per Sqft $570
MLS Listing ID 25514445
Bedrooms 10
HOA Y/N No
Year Built 1988
Lot Size 5,954 Sqft
Property Description
We are pleased to present 515 W. Lexington Drive, a six-unit multifamily investment opportunity located in the Vineyard neighborhood of Glendale. This turn-key asset is the perfect opportunity for a "headache free" passive investment in high rental demand area. Constructed in 1988, 515 W. Lexington Drive comprises four two-bedroom/two-bathroom units and two one-bedroom/one-bathroom units. Sitting on a 5,954 square foot lot, the parcel is zoned R3050, making the existing six units irreplaceable with the current zoning. The 4,642 square feet of improvements boast two-bedroom units ranging between 800 and 835 square feet and one-bedroom units at 650 square feet. Five of the six units have been fully renovated, and all units have separate meters for gas and electricity along with individual water heaters and central HVAC and in-unit washer & dryers. The property offers ten parking spaces, ample storage cabinets for all tenants, owner's storage cabinets, and gated access. Recent capital improvements to the property also include a new roof, new parking gate, new intercom access system, new windows, and renovated walkways. Situated south of the 134 Freeway just east of Pacific Ave., 515 W Lexington is less than a mile from Downtown Glendale, the Americana and the Glendale Galleria making it an attractive asset to investors and prospective tenants looking to make this property their home. It is also within a half mile from the nearest on-ramp to the 134 Freeway, offering commuters ease of access to the I-5 Freeway, North Glendale, Burbank, Los Feliz, Pasadena and Downtown Los Angeles.
Location
State CA
County Los Angeles
Area 628 - Glendale-South Of 134 Fwy
Zoning GLR4YY
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Disposal, Dryer, Washer
Exterior
Parking Features Covered, Gated
Total Parking Spaces 10
Building
Story 1
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5637013048
Special Listing Condition Standard
Listed by Sevak Keshishian • Marcus & Millichap