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    1818 Vassar St Glendale, CA 91204

    View on Map
    Sponsored
    For Sale
    $10,800,000

    MULTI_FAMILY - Glendale, CA

    Property size:
    25,480 SF
    Lot size:
    0.55 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 21 at 5:06 pm

    Property Features for 1818 Vassar St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    GLR4*
    Rooms
    Bathroom 35, Bedroom 8, Bedroom 46, Bathroom 45, Bathroom 37, Bathroom 24, Bathroom 40, Bedroom 19, Bathroom 46, Bedroom 11, Bathroom 25, Bedroom 3, Bathroom 9, Bathroom 26, Bedroom 31, Bedroom 43, Bathroom 6, Bathroom 19, Bathroom 12, Bedroom 9, Bedroom 7, Bathroom 44, Bedroom 23, Bedroom 44, Bathroom 39, Bedroom 36, Bedroom 15, Bathroom 11, Bedroom 29, Bedroom 12, Bathroom 33, Bedroom 1, Bathroom 3, Bathroom 43, Bedroom 5, Bedroom 39, Bathroom 7, Bathroom 16, Bedroom 37, Bathroom 17, Bathroom 21, Bathroom 34, Bedroom 14, Bedroom 26, Bedroom 34, Bedroom 2, Bedroom 41, Bathroom 22, Bedroom 42, Bathroom 41, Bathroom 29, Bathroom 8, Bedroom 40, Bathroom 2, Bedroom 35, Bathroom 14, Bedroom 10, Bathroom 15, Bathroom 27, Bedroom 27, Bathroom 28, Bathroom 23, Bathroom 36, Bedroom 6, Bedroom 28, Bathroom 18, Bathroom 30, Bathroom 32, Bedroom 18, Bedroom 16, Bathroom 10, Bedroom 25, Bedroom 17, Bedroom 33, Bedroom 45, Bathroom 38, Bathroom 13, Bathroom 4, Bedroom 30, Bathroom 42, Bedroom 4, Bedroom 21, Bathroom 20, Bedroom 24, Bedroom 22, Bedroom 32, Bathroom 5, Bedroom 38, Bedroom 13, Bathroom 1, Bedroom 20, Bathroom 31
    Bedrooms
    46
    Bathrooms
    46
    APN
    5640-037-037
    Parking
    52
    Size
    25,480 SF
    Lot size
    0.55 Acres

    Building Details

    Year built
    1987
    Floors in Building
    2
    Number of units
    31

    We can help!

    Listing Contact
    Shant Sherbetdjian

    RE/MAX Commercial & Investment

    Listing agent Shant Sherbetdjian License #01713570

    Listing date Mar 20, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Glendale Multifamily Investment Opportunity

    Located in Glendale, this multi-story apartment building constructed in 1987 features 31 units. The property, totaling 25,480 square feet, is situated on a 23,990 square foot lot. The unit mix comprises 16 one-bedroom/one-bath units and 15 two-bedroom/1.5-bath units. There are 50 covered parking spaces located in a below-grade garage. The building is fully sprinklered and secured with intercom access. On-site laundry facilities are available. Each unit is individually metered for gas and electricity, while water is master-metered. The property is zoned GLR4*. This asset offers immediate cash flow and value-add potential. Located centrally, the property is a short drive from The Americana at Brand and the Atwater Village Shopping/Retail Corridor. It presents an excellent 1031 Exchange potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Los Angeles
    State
    California
    Longitude
    -118.254776
    Latitude
    34.122353

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    FAQs

    What type of property is this?
    Apartment building - 31-unit apartment building in Glendale with value-add potential.
    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: - Fully stabilized 31-unit apartment building in Glendale, offering immediate cash flow.; - Significant value-add potential through rent enhancement and capital improvements.; - Desirable unit mix: 16 one-bedroom/1-bath units and 15 two-bedroom/1.5-bath units.
    (213) 817-1000
    Request Owner's contact information
    1818 Vassar St Glendale, CA 91204
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    Glendale, CA 91204
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1818 Vassar St Glendale, CA 91204
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    Shant Sherbetdjian
    Real Estate License ID: 01713570
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