18-Unit Apartment
For Sale
Contact for pricing
1165 Thompson Ave, Glendale, CA 91201
Multifamily property in Glendale with R-2250 zoning and a substantial existing building.
Property Size21,145 SF
Price / SF$410.50
Days on Market158
Property Features for 1165 Thompson Ave
General Information
Standard status
Active
Size
21,145 SF
Class
B
Property subtype
Multifamily, Office
Zoning
R-2250
Net Operating Income
$356,155
Additional Details
Office Units
18
Building Details
Year Built
1969
Buildings
1
Stories
2
Units
18
Building Size
21,145 SF
Listing Agency:
Coldwell Banker Commercial George Realty Alhambra
(626) 202-6446
Listed By:
Shumei Kam · License #CA
Source:
Crexi
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 9:38PM
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 Coldwell Banker Commercial George Realty Alhambra
Investment Insights
Based on property information with market context.
This apartment building contains 18 units within 21,145 SF of building area. Constructed in 1969, the property carries R-2250 zoning and is located at 1165 Thompson Ave in Glendale, California. The existing unit count and building scale provide a defined multifamily configuration for evaluation by residential income property buyers.
The property is positioned in Glendale, with the surrounding area described as having commercial corridors, dining options, green-space access, and established business activity. Griffith Park, The Americana at Brand, and Glendale Galleria are identified among the nearby destinations. The address places the asset within the broader Glendale commercial and residential setting while retaining its apartment-building classification.
The property is positioned in Glendale, with the surrounding area described as having commercial corridors, dining options, green-space access, and established business activity. Griffith Park, The Americana at Brand, and Glendale Galleria are identified among the nearby destinations. The address places the asset within the broader Glendale commercial and residential setting while retaining its apartment-building classification.
Key Highlights
- 18‑unit apartment building
- 21,145 SF building
- R‑2250 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
$416,054
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
4.79%
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%
$8,321,080
$8.3M
Cap Rate 7%
$5,943,629
$5.9M
Cap Rate 9%
$4,622,822
$4.6M
Market Conditions
NOI Build-Up for 21,145 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
$697.8K $33.00/SF
− Vacancy
−$143.0K −$6.77/SF
EGI
$554.7K $26.24/SF
− OpEx
−$138.7K −$6.56/SF
NOI
$416.1K $19.68/SF
Area
Glendale, CA
Vacancy
20.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
25.00%
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%
$8,321,080
Cap Rate 7%
$5,943,629
Cap Rate 9%
$4,622,822
Alternative Uses
Best Use
Office B
$5.94M
$5.20M – $6.93M
NOI $416,054 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$5.69M
$4.97M – $6.63M
NOI $397,982 @ 7.0% cap · market cap 4.59%
Theoretical Best
Specialty Retail
$12.72M
$11.13M – $14.84M
NOI $890,199 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Office units
Location Intelligence
Trade Area within ½ mile
2,141
Businesses Nearby
Explore this area
Business Placement
Demographics for 91201, CA
22,608
Population
8,570
Households
2.6
Avg Household Size
43
Median Age
34%
College-Educated
86%
High-School Grad
2.4 sq mi
ZIP Area
9,420
Density / Sq Mi
$74,980
Median Household Income
$44,444
Median Earnings
$2,034
Median Rent
$1,060,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in Glendale with R-2250 zoning and a substantial existing building.
Where is this apartment building located?
The property is located at 1165 Thompson Ave Glendale, CA.
What is the asking price?
The asking price for this property is $8,680,000.
What are key features of this property?
This property features: 18‑unit apartment building; 21,145 SF building; R‑2250 zoning
