Multifamily Building with On-Site
For Sale
$3,999,000
729 Raleigh St, Glendale, CA 91205
Residential Income, Glendale, CA
Property Size11,424 SF
Lot Size0.25 Acres
Price / SF$350.05
Days on Market154
Property Features for 729 Raleigh St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GLR4YY
Bedrooms
22
Bathrooms
22
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 9, Bathroom 7, Bedroom 5, Bedroom 21, Bathroom 11, Bathroom 18, Bedroom 14, Bedroom 13, Bathroom 6, Bedroom 10, Bathroom 4, Bathroom 22, Bedroom 6, Bedroom 20, Bathroom 19, Bedroom 8, Bedroom 17, Bathroom 21, Bedroom 15, Bedroom 19, Bathroom 2, Bedroom 3, Bathroom 5, Bathroom 3, Bathroom 15, Bedroom 7, Bathroom 10, Bedroom 1, Bedroom 2, Bedroom 11, Bedroom 4, Bathroom 13, Bedroom 16, Bathroom 12, Bedroom 12, Bathroom 14, Bathroom 16, Bathroom 20, Bedroom 18, Bathroom 8, Bedroom 22, Bathroom 9, Bathroom 17
Parking
12
Parking features
Covered
Directions
South Of E Maple St & East Of Granada St
Subdivision
Glendale-South of 134 Fwy
Standard status
Active
APN
5675-013-018
Size
11,424 SF
Lot size
0.25 Acres
Utilities
Cooling system
Wall/Window Unit(s)
Amenities
on-site laundry
Building Details
Year built
1964
Floors in Building
2
Number of units
13
Listing Agency:
Keller Williams Studio City · Keller Williams Realty
(818) 432-1500
Listed By:
Michael Pesci · License #01274379
(213) 820-1335
Added: Mar 31
Changed: Aug 19
Last Checked: Aug 31 at 8:06AM
MLS# 26671833
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.
Multifamily building on a 0.2474-acre lot (11,424 SF) built in 1964, configured with 13 total units, including 12 conforming units plus one non-conforming unit. The in-place unit mix includes 2 one-bedroom/one-bath units, 1 two-bedroom/one-bath unit, and 10 two-bedroom/two-bath units. Cooling is provided by wall/window units.
The building is individually metered for gas and electric. Tenants have access to covered on-site parking along with storage and on-site laundry facilities. Zoning is GLR4YY. The property is located in Glendale and is described as offering convenient access to major retail and regional transportation, including Glendale Transportation Center, plus nearby access routes State Route 134, State Route 2, and Interstate 5.
The building is individually metered for gas and electric. Tenants have access to covered on-site parking along with storage and on-site laundry facilities. Zoning is GLR4YY. The property is located in Glendale and is described as offering convenient access to major retail and regional transportation, including Glendale Transportation Center, plus nearby access routes State Route 134, State Route 2, and Interstate 5.
Key Highlights
- 13 total units: 2 one‑bedroom/1‑bath, 1 two‑bedroom/1‑bath, and 10 two‑bedroom/2‑bath plus 1 non‑conforming unit
- Individually metered for gas and electric
- On‑site laundry facilities and storage for tenants
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
$215,017
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
5.38%
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%
$4,300,340
$4.3M
Cap Rate 7%
$3,071,671
$3.1M
Cap Rate 9%
$2,389,078
$2.4M
Market Conditions
NOI Build-Up for 11,424 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
$418.1K $36.60/SF
− Vacancy
−$27.2K −$2.38/SF
EGI
$390.9K $34.22/SF
− OpEx
−$175.9K −$15.40/SF
NOI
$215.0K $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%
$4,300,340
Cap Rate 7%
$3,071,671
Cap Rate 9%
$2,389,078
Alternative Uses
Best Use
Apartment 5plus
$3.07M
$2.69M – $3.58M
NOI $215,017 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.87M
$6.01M – $8.02M
NOI $480,948 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 91205, CA
36,693
Population
14,424
Households
2.5
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
1.9 sq mi
ZIP Area
19,312
Density / Sq Mi
$59,005
Median Household Income
$42,393
Median Earnings
$1,890
Median Rent
$763,100
Median Home Value
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 - 13-unit multifamily with on-site laundry, covered parking, storage, and individually metered gas and electric service.
Where is this apartment building located?
The property is located at 729 Raleigh St Glendale, CA.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: 13 total units: 2 one‑bedroom/1‑bath, 1 two‑bedroom/1‑bath, and 10 two‑bedroom/2‑bath plus 1 non‑conforming unit; Individually metered for gas and electric; On‑site laundry facilities and storage for tenants
