Glendale Mixed-Use Investment
For Sale
$6,750,000
1001 S Central Ave, Glendale, CA 91204
Mixed-use property with 28 units in a desirable Glendale location.
Property Size20,355 SF
Days on Market112
Property Features for 1001 S Central Ave
General Information
Standard status
Active
Size
20,355 SF
Property subtype
Investment
Building Details
Building Size
20,355 SF
Year Built
1928
Stories
3
Units
28
Listing Agency:
Keller Williams Studio City
(818) 432-1627
Listed By:
Michael Pesci · License #01274379
(818) 432-1627
Source:
Elliman
Added: Apr 22
Changed: Aug 8
Last Checked: Jul 16 at 9:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Studio City
Investment Insights
Based on property information with market context.
Located in Glendale, the property at 1001-1005 S Central Ave is a mixed-use investment opportunity. Positioned on a corner lot along a major thoroughfare, the property benefits from visibility and consistent traffic. The property features 28 units, including 16 singles, 10 one-bedroom/one-bath units, and 2 commercial spaces. This unit mix offers a balanced income stream from residential and retail components, providing flexibility and stability. On-site laundry facilities enhance tenant convenience and retention. The property is situated in a high-demand rental location, surrounded by a dense population, a strong employment base, and retail and dining options. Residents and commercial tenants benefit from proximity to the Glendale Galleria and The Americana at Brand. The location offers accessibility with proximity to Interstate 5, State Route 134, and State Route 2. Public transportation is accessible via the nearby Glendale Transportation Center. The bike score is 68, making it bikeable. The walk score is 84, indicating it is very walkable, and the transit score is 58, indicating good transit.
Key Highlights
- Prime Glendale location in a high‑demand rental market.
- Diverse mixed‑use configuration with 28 units: 16 singles, 10 one‑bedroom/one‑bath units, and 2 commercial spaces.
- Prominent corner lot with strong visibility and high traffic.
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
$403,067
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
5.97%
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%
$8,061,340
$8.1M
Cap Rate 7%
$5,758,100
$5.8M
Cap Rate 9%
$4,478,522
$4.5M
Market Conditions
NOI Build-Up for 20,355 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
$720.6K $35.40/SF
− Vacancy
−$75.7K −$3.72/SF
EGI
$644.9K $31.68/SF
− OpEx
−$241.8K −$11.88/SF
NOI
$403.1K $19.80/SF
Area
Glendale, CA
Vacancy
10.50%
Lease Rate
$35.40 /SF/Yr
Expense Ratio
37.50%
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%
$8,061,340
Cap Rate 7%
$5,758,100
Cap Rate 9%
$4,478,522
Alternative Uses
Best Use
Mixed Use
$5.76M
$5.04M – $6.72M
NOI $403,067 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$5.47M
$4.79M – $6.39M
NOI $383,113 @ 7.0% cap · market cap 5.68%
Theoretical Best
Specialty Retail
$12.24M
$10.71M – $14.28M
NOI $856,940 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,097
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with 28 units in a desirable Glendale location.
Where is this mixed-use property located?
The property is located at 1001 S Central Ave Glendale, CA.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Prime Glendale location in a high‑demand rental market.; Diverse mixed‑use configuration with 28 units: 16 singles, 10 one‑bedroom/one‑bath units, and 2 commercial spaces.; Prominent corner lot with strong visibility and high traffic.
