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Monarch Terrace Apartments 1595 E Chevy Chase Dr 56 Unit Apartment Building $18,500,000 ($330,357/Unit) 4.54% Cap Rate Glendale, CA 91206
Investment Highlights
- EXCELLENT UNIT MIX
- SUBTERRANEAN PARKING & STORAGE
- GLENDALE UNIFIED SCHOOL DISTRICT
- UPSIDE IN RENTS
- FREEWAY CONNECTIVITY
Executive Summary
CBRE, Inc. is proud to exclusively present Monarch Terrace, a distinguished multifamily asset ideally situated in Glendale, California — “The Jewel City.” Strategically positioned along East Chevy Chase Drive, this exceptional property presents discerning investors with a rare opportunity to acquire a premier holding in one of Southern California’s most coveted submarkets.
Rising prominently on a ±28,608 GLR4-zoned parcel, this well-maintained asset encompasses a thoughtfully curated unit mix of 56 residences designed to serve diverse tenant profiles across studio, one and two-bedroom layouts — delivering consistent occupancy and durable income performance.
Northern Glendale’s prime location offers unparalleled connectivity, with seamless access to the I-134 and I-2 freeways placing the entire region within effortless reach. Residents enjoy an enviable lifestyle surrounded by top-rated public schools, world-class dining destinations, artisan bakeries, specialty coffee houses, and essential services along the vibrant corridors connecting Burbank and Pasadena. The iconic Americana at Brand, Glendale Galleria, and a thriving downtown further elevate the location’s appeal to exceptional heights.
While Glendale remains free from citywide rent control ordinances, the property operates under AB 1482 guidelines. With robust market fundamentals anchoring its performance, Monarch Terrace represents an outstanding acquisition for investors pursuing appreciation potential, reliable cash flow, and a proven inflation hedge in one of California’s most resilient markets.
Rising prominently on a ±28,608 GLR4-zoned parcel, this well-maintained asset encompasses a thoughtfully curated unit mix of 56 residences designed to serve diverse tenant profiles across studio, one and two-bedroom layouts — delivering consistent occupancy and durable income performance.
Northern Glendale’s prime location offers unparalleled connectivity, with seamless access to the I-134 and I-2 freeways placing the entire region within effortless reach. Residents enjoy an enviable lifestyle surrounded by top-rated public schools, world-class dining destinations, artisan bakeries, specialty coffee houses, and essential services along the vibrant corridors connecting Burbank and Pasadena. The iconic Americana at Brand, Glendale Galleria, and a thriving downtown further elevate the location’s appeal to exceptional heights.
While Glendale remains free from citywide rent control ordinances, the property operates under AB 1482 guidelines. With robust market fundamentals anchoring its performance, Monarch Terrace represents an outstanding acquisition for investors pursuing appreciation potential, reliable cash flow, and a proven inflation hedge in one of California’s most resilient markets.
Property Facts
| Price | $18,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $330,357 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.65 AC |
| Cap Rate | 4.54% | Building Size | 49,930 SF |
| Gross Rent Multiplier | 14.09 | Average Occupancy | 96% |
| No. Units | 56 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.8/1,000 SF |
| Zoning | R4, Glendale | ||
| Price | $18,500,000 |
| Price Per Unit | $330,357 |
| Sale Type | Investment |
| Cap Rate | 4.54% |
| Gross Rent Multiplier | 14.09 |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.65 AC |
| Building Size | 49,930 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1959 |
| Parking Ratio | 1.8/1,000 SF |
| Zoning | R4, Glendale |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Microwave
- Storage Space
- Ceiling Fans
- Crown Molding
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Grill
- Package Service
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | 500 |
| 1+1 | 34 | - | 750 |
| 2+2 | 12 | - | 1,000 - 1,100 |
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 5665-011-001 | Improvements Assessment | $12,145,762 |
| Land Assessment | $8,097,173 | Total Assessment | $20,242,935 |
Property Taxes
Parcel Number
5665-011-001
Land Assessment
$8,097,173
Improvements Assessment
$12,145,762
Total Assessment
$20,242,935
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Monarch Terrace Apartments | 1595 E Chevy Chase Dr
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