516 W Lexington, Glendale, CA 91203
- $1,300,000
- Sold Price
- $1,300,000
- List Price
- $1,449,000
- Closing Date
- May 07, 2026
- Status
- CLOSED
- MLS#
- GD26036367
- Year Built
- 1926
- Lot Size
- 6,151
- Acres
- 0.14
- Lot Location
- 6-10 Units/Acre
- Days on Market
- 22
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
Property Description
RE/MAX Tri-City Commercial presents a rare value-add opportunity at 516 W Lexington Drive, Glendale, CA 91203,A 4-unit multifamily property located in Glendale highly sought-after Northwest rental sub market. The property consists of four (4) one-bedroom / one-bathroom units situated on an approximately 6,149 square foot lot with Five (5) on-site parking spaces. The property offers classic Glendale character with strong repositioning potential. Located just moments from The Americana at Brand, Glendale Galleria, the 134 Freeway, major employment corridors, retail, dining, and public transit. One unit is currently vacant, and a second unit may become vacant prior to close of escrow (not guaranteed), allowing an investor or owner-user the opportunity to implement upgrades and adjust rents early in the hold period. Current rents are below projected market levels, offering a clear path to increased income. At market rents, the property achieves an estimated 5.6% cap rate. Additionally, the lot configuration suggests potential to add one to two Accessory Dwelling Units (ADUs), subject to buyer verification with the City of Glendale. All Offers are due 3.3.2026 10 AM after open house on Sunday March 1st 2026 11 AM to 1 PM . One unit can be shown and it will be open during broker open house. All offers shall be emailed to arthurmangre@gmail.com with proof of funds and lender prequel letter.
Additional Information
- Appliances
- Disposal, Gas Water Heater
- Pool Description
- None
- Fireplace Description
- Living Room
- Cooling
- Yes
- Cooling Description
- Gas
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $95,000
- Operating Expense
- 25000
Listing courtesy of Listing Agent: Arthur Mangassarian (arthurmang@aol.com) from Listing Office: Re/Max Tri-City Realty.
Listing sold by Shahe Seuylemezian from Remax Dream Properties
Mortgage Calculator
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.