516 W Lexington, Glendale, CA 91203

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 description from the May 2026 sale, as reported to CRMLS.

Sale history

$1,300,000

Sold May 2026 · listed $1,449,000, on market February 2026, 22 days on market · MLS #GD26036367 · Source: CRMLS

Listing Agent: Arthur Mangassarian · Listing Office: Re/Max Tri-City Realty · Contact: 818-636-8899 · Bought with: Shahe Seuylemezian · Remax Dream Properties

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