31-Unit Apartment
For Sale
$10,800,000
1818 Vassar St, Glendale, CA 91204
Residential Income, Glendale, CA
Property Size25,480 SF
Lot Size0.55 Acres
Price / SF$423.86
Days on Market180
Property Features for 1818 Vassar St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GLR4*
Bedrooms
46
Bathrooms
46
Full bathrooms
3
Rooms
Bedroom 28, Bathroom 29, Bedroom 35, Bedroom 14, Bathroom 23, Bedroom 12, Bedroom 25, Bathroom 15, Bathroom 3, Bathroom 46, Bedroom 3, Bathroom 34, Bathroom 19, Bathroom 8, Bathroom 28, Bedroom 6, Bedroom 32, Bedroom 33, Bedroom 41, Bedroom 1, Bedroom 10, Bathroom 30, Bedroom 45, Bathroom 11, Bathroom 38, Bathroom 5, Bathroom 43, Bathroom 13, Bedroom 43, Bedroom 15, Bedroom 11, Bathroom 4, Bedroom 37, Bedroom 42, Bathroom 10, Bedroom 46, Bathroom 25, Bedroom 34, Bedroom 9, Bathroom 40, Bedroom 44, Bedroom 40, Bedroom 36, Bathroom 12, Bathroom 9, Bedroom 31, Bathroom 32, Bathroom 1, Bathroom 24, Bedroom 20, Bathroom 44, Bedroom 18, Bathroom 22, Bedroom 27, Bathroom 35, Bedroom 19, Bedroom 38, Bathroom 42, Bathroom 37, Bedroom 26, Bathroom 17, Bathroom 6, Bedroom 30, Bathroom 36, Bedroom 23, Bathroom 14, Bedroom 17, Bathroom 20, Bedroom 8, Bedroom 24, Bedroom 13, Bedroom 29, Bathroom 2, Bathroom 39, Bedroom 39, Bathroom 7, Bedroom 2, Bathroom 21, Bedroom 7, Bedroom 4, Bathroom 16, Bathroom 31, Bathroom 27, Bathroom 18, Bathroom 33, Bedroom 21, Bedroom 5, Bedroom 22, Bedroom 16, Bathroom 45, Bathroom 41, Bathroom 26
Parking
52
Elementary school district
Glendale Unified
Middle school district
Glendale Unified
High school district
Glendale Unified
Directions
This great investment opportunity is located in the city of Glendale, near the major intersection of South Brand Blvd and North San Fernando Road. You can enter into the small side street of Vassar Street located just off of Glendale Blvd, which is the beginning of where South Brand Blvd starts.
Subdivision
Glendale-South of 134 Fwy
Standard status
Active
APN
5640-037-037
Size
25,480 SF
Lot size
0.55 Acres
Amenities
on-site laundry
intercom access
Building Details
Year built
1987
Floors in Building
2
Number of units
31
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Shant Sherbetdjian · License #01713570
(626) 657-8150
Added: Mar 20
Changed: Sep 12
Last Checked: Sep 15 at 8:06AM
MLS# 26667623
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1818 Vassar Street is a 31-unit, multi-story apartment property constructed in 1987. The building contains 25,480 square feet on a 23,990-square-foot lot, with 16 one-bedroom/1-bath residences and 15 two-bedroom/1.5-bath residences. A fully sprinklered, below-grade garage provides 50 covered parking spaces.
Building systems include individual gas and electric metering, master-metered water, intercom-controlled entry, and on-site laundry facilities. The property is zoned GLR4* and occupies 0.5521 acres. Its Glendale setting places it within a short drive of The Americana at Brand and the Atwater Village shopping and retail corridor.
Building systems include individual gas and electric metering, master-metered water, intercom-controlled entry, and on-site laundry facilities. The property is zoned GLR4* and occupies 0.5521 acres. Its Glendale setting places it within a short drive of The Americana at Brand and the Atwater Village shopping and retail corridor.
Key Highlights
- 31‑unit apartment building constructed in 1987
- 25,480 SF building on a 23,990‑square‑foot lot
- Unit mix includes 16 one‑bedroom/1‑bath and 15 two‑bedroom/1.5‑bath residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$479,573
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,591,460
$9.6M
Cap Rate 7%
$6,851,043
$6.9M
Cap Rate 9%
$5,328,589
$5.3M
Market Conditions
NOI Build-Up for 25,480 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$932.6K $36.60/SF
− Vacancy
−$60.6K −$2.38/SF
EGI
$872.0K $34.22/SF
− OpEx
−$392.4K −$15.40/SF
NOI
$479.6K $18.82/SF
Area
Glendale, CA
Vacancy
6.50%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,591,460
Cap Rate 7%
$6,851,043
Cap Rate 9%
$5,328,589
Alternative Uses
Best Use
Apartment 5plus
$6.85M
$5.99M – $7.99M
NOI $479,573 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$15.32M
$13.41M – $17.88M
NOI $1,072,702 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
31
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 91204, CA
17,302
Population
7,095
Households
2.4
Avg Household Size
39
Median Age
36%
College-Educated
82%
High-School Grad
1.0 sq mi
ZIP Area
17,302
Density / Sq Mi
$72,906
Median Household Income
$41,556
Median Earnings
$1,924
Median Rent
$747,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-story apartment property with covered parking, secured entry, and on-site laundry.
Where is this apartment building located?
The property is located at 1818 Vassar St Glendale, CA.
What is the asking price?
The asking price for this property is $10,800,000.
What are key features of this property?
This property features: 31‑unit apartment building constructed in 1987; 25,480 SF building on a 23,990‑square‑foot lot; Unit mix includes 16 one‑bedroom/1‑bath and 15 two‑bedroom/1.5‑bath residences
