Edward Amey Acquires Multifamily Property In Glendale From Varand Hayrapian For $3.9M

A multifamily property located at 1011 East Chevy Chase Drive in Glendale has been sold for $3,900,000. This asset spans 8,000 square feet and consists of 8 units, with a price per unit of $487,500 and a price per square foot of $487. The property was fully remodeled and delivered turnkey with 6 vacant units, making it an attractive opportunity for repositioning and potential rental enhancements.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,900,000
• Units: 8
• Square Feet: 8,000
• Price per Unit: $487,500
• Price per Square Foot: $487
• Buyer: Edward Amey
• Seller: Varand Hayrapian
• Broker: Karl Markarian - eXp World Holdings

This transaction features Edward Amey as the buyer and Varand Hayrapian as the seller. Karl Markarian, representing the transaction for eXp World Holdings, noted the successful closing and emphasized the strategic value of the property in one of Los Angeles' most sought-after submarkets.