Apartment Building with Mixed-Use
For Sale
$6,750,000
1001 S Central Ave, Glendale, CA 91204
MULTI_FAMILY - Glendale, CA
Property Size20,355 SF
Lot Size0.19 Acres
Price / SF$331.61
Days on Market123
Property Features for 1001 S Central Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GLC3
Bedrooms
10
Bathrooms
28
Full bathrooms
18
Rooms
Bathroom 1, Bathroom 23, Bathroom 15, Bathroom 28, Bedroom 2, Bedroom 1, Bedroom 5, Bathroom 20, Bathroom 24, Bathroom 4, Bedroom 3, Bedroom 8, Bathroom 13, Bathroom 25, Bathroom 12, Bathroom 5, Bathroom 18, Bathroom 6, Bedroom 4, Bathroom 27, Bedroom 6, Bathroom 7, Bathroom 3, Bathroom 11, Bathroom 22, Bathroom 2, Bedroom 10, Bathroom 17, Bedroom 7, Bathroom 9, Bathroom 14, Bathroom 21, Bathroom 26, Bathroom 8, Bathroom 10, Bathroom 16, Bathroom 19, Bedroom 9
Directions
North Of W Chevy Chase Dr & West Of S Brand Blvd
Subdivision
Glendale-South of 134 Fwy
Standard status
Active
APN
5696-025-038
Size
20,355 SF
Lot size
0.19 Acres
Utilities
Cooling system
Wall/Window Unit(s)
Amenities
on-site laundry
Building Details
Year built
1928
Floors in Building
3
Number of units
28
Listing Agency:
Keller Williams Studio City · Keller Williams Realty
(818) 432-1500
Listed By:
Michael Pesci · License #01274379
(213) 820-1335
Added: Apr 15
Changed: Aug 1
Last Checked: Aug 15 at 8:06AM
MLS# 26683241
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.
1001-1005 S Central Ave is an apartment building on a corner lot that combines residential and commercial income in a single mixed-use configuration. The property includes 28 total units: 16 singles, 10 one-bedroom/one-bath units, and 2 commercial spaces. On-site laundry facilities are provided, and cooling is available through wall/window unit(s). The property also offers on-site storage.
Zoned GLC3, the site is positioned along a major thoroughfare for strong everyday visibility. It is located in Glendale, with accessibility to regional travel routes including Interstate 5, State Route 134, and State Route 2. Nearby transit access is available via the Glendale Transportation Center.
Built in 1928, the property sits on a 0.186-acre lot and has an estimated 20,355 square feet of building area, supporting a diversified tenant mix across residential and commercial spaces.
Zoned GLC3, the site is positioned along a major thoroughfare for strong everyday visibility. It is located in Glendale, with accessibility to regional travel routes including Interstate 5, State Route 134, and State Route 2. Nearby transit access is available via the Glendale Transportation Center.
Built in 1928, the property sits on a 0.186-acre lot and has an estimated 20,355 square feet of building area, supporting a diversified tenant mix across residential and commercial spaces.
Key Highlights
- 0.186‑acre corner lot with 20,355 SF apartment building
- 28 total units: 16 singles, 10 one‑bedroom/one‑bath, plus 2 commercial spaces
- GLC3 zoning
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
$383,113
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
5.68%
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%
$7,662,260
$7.7M
Cap Rate 7%
$5,473,043
$5.5M
Cap Rate 9%
$4,256,811
$4.3M
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
$745.0K $36.60/SF
− Vacancy
−$48.4K −$2.38/SF
EGI
$696.6K $34.22/SF
− OpEx
−$313.5K −$15.40/SF
NOI
$383.1K $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%
$7,662,260
Cap Rate 7%
$5,473,043
Cap Rate 9%
$4,256,811
Alternative Uses
Best Use
Apartment 5plus
$5.47M
$4.79M – $6.39M
NOI $383,113 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
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
Lease Details
26
Residential units
Yes
Highway access
Yes
Paved road access
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?
Apartment building - GLC3-zoned corner property with 28 total units, including on-site laundry and wall/window cooling units.
Where is this apartment building 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: 0.186‑acre corner lot with 20,355 SF apartment building; 28 total units: 16 singles, 10 one‑bedroom/one‑bath, plus 2 commercial spaces; GLC3 zoning
