Glendale-Chevy Chase/E. Glenoaks (624) Homes with Apartment Subtype

Welcome to the charming neighborhood of Glendale-Chevy Chase/E. Glenoaks, a hidden gem nestled in the heart of Los Angeles County, California. This picturesque area is known for its serene tree-lined streets, friendly community vibe, and a perfect blend of suburban tranquility and urban convenience. With its prime location, residents enjoy easy access to a variety of shopping, dining, and entertainment options, making it an ideal place for families and young professionals alike.

One of the standout features of the Glendale-Chevy Chase/E. Glenoaks region is its diverse housing market, particularly its homes with apartment subtypes. Here, you’ll find an array of properties that cater to various lifestyles and needs. Whether you’re looking for a cozy bungalow with a separate rental unit or a spacious multi-family home, this neighborhood offers a wealth of options. These homes not only provide comfortable living spaces but also present excellent investment opportunities, allowing homeowners to generate additional income through rental units.

The community is also home to several parks, excellent schools, and vibrant cultural attractions, making it a wonderful place to raise a family. With its close-knit atmosphere and welcoming spirit, Glendale-Chevy Chase/E. Glenoaks is more than just a place to live; it’s a place to call home. Explore the possibilities that await you in this enchanting neighborhood, where comfort meets opportunity in the heart of California. Come and discover your dream home in Glendale-Chevy Chase/E. Glenoaks today!

Newest Glendale-Chevy Chase/E. Glenoaks (624) Homes with Apartment Subtype

$2,299,000

BB26104554 MLS ⋅ Active Under Contract Status

650 W Wilson Ave is an exceptionally rare 8-unit generational asset, offered for the first time ever in one of Glendale's most desirable rental pockets just steps from The Americana at Brand. What truly separates this opportunity is its immediate development potential. Both rear 1- bedroom units, that make up the back structure, will be delivered vacant, allowing a buyer to begin construction immediately after closing without the cost, delays, or uncertainty of tenant relocation. A contractor bid has already been completed to combine the two vacant units into a spacious 3 Bed / 3 Bath residence while adding an additional 3 Bed / 3 Bath ADU in the existing parking area. Buyers have the flexibility to either create two large 3 Bed / 3 Bath units or simply keep the existing 1-bedroom units and add a 9th unit, allowing them to tailor the project to their investment strategy while significantly increasing rental income. Unlike most value-add opportunities that require years of turnover, this project can begin on day one. Buyers also have the flexibility to complete only the ADU, only the conversion, or both projects depending on their investment strategy. Our team can also assist with project management using the same contractor who prepared the bid, creating a streamlined path from acquisition to completion. Beyond the development upside, the property offers strong in-place cash flow with a 5.80% current cap rate and a 7.26% pro forma, both calculated using real operating expenses and a 4% management fee. The six existing 2-bedroom units have seen numerous interior upgrades including cabinetry, countertops, flooring, and updated electrical panel breakers, minimizing future capital expenditures while providing additional rental upside. Combining an irreplaceable Glendale location, immediate income, and one of the easiest value-add opportunities currently available, 650 W Wilson represents a rare chance to acquire a true legacy asset with multiple paths to increasing long-term value.

650 W Wilson, Glendale

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.