$1,449,000

516 W Lexington, Glendale, CA 91203

2,592 sqft

Multi-Family Home
Built in 1926
6,151sqft lot
—— car garage
$559/sqft
Listed 1 month ago

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.

Listing Status:: Pending
Date Added:: February 18, 2026
Data Last Updated:: April 2, 2026 at 3:19AM
Listing Office:: Re/Max Tri-City Realty : 818-409-0040
Listing Agent:: Arthur Mangassarian : 818-549-9000
MLS ID:: GD26036367

Appliances: DisposalGas Water Heater
Laundry: None
Flooring: Laminate
A/C: Gas
Fireplace: Living RoomFireplace

Pool: None
Parking: Parking spaces: 4

General: 2

HOA Amenities: 0.0
Originating MLS: CRMLS_CRM
County: Los Angeles

Zoning: 5637012059

Water: Public
Sewer: Public Sewer

Source: CRMLS_CRM

This listing courtesy of Arthur Mangassarian , Re/Max Tri-City Realty

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Columbus Elementary School

425 Milford St, Glendale, CA, 91203

Grades PK-5

0.24 miles away

Jewel City Community Day

440 W Lomita Ave, Glendale, CA, 91204

Grades 7-10

0.83 miles away

Daily (Allan F.) High (Continuation)

220 N Kenwood St, Glendale, CA, 91206

Grades 9-12

0.83 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.