Historic Triplex With Guest
New
For Sale
$1,259,000
119 S Adams, Glendale, CA 91205
Three living spaces provide kitchens, baths, storage, and separate access within a flexible residential configuration.
Property Size3,114 SF
Days on Market5
Property Features for 119 S Adams
General Information
Standard status
Active
Size
3,114 SF
Total Parking Spaces
5
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
fixer
Units
Unit Mix
1 x 2BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Building Size
3,114 SF
Year Built
1920
Stories
2
Units
3
Listed By:
Bill Davis
(626) 833-9697
Source:
Elliman
Added: Sep 14
Changed: Sep 18
Last Checked: Sep 18 at 10:06AM
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 Bill Davis
Investment Insights
Based on property information with market context.
Built in 1920, this Glendale triplex combines a two-level main residence with a detached one-bedroom guest house. The lower main-house unit includes two bedrooms, two full baths, a full kitchen, breakfast nook, formal dining room, concealed laundry, basement storage, sewing room, attic access, and a front living room with original crown molding, wood built-ins, and a Batchelder tile fireplace. The upper unit offers a bedroom, full bath, living room, kitchen, dining nook, private exterior stairs, and a large attic. The guest house adds a full bath, kitchen, dining/living room, and dedicated laundry.
A two-car garage, attached workshop, alley access, three additional parking spaces, and a backyard with mature shade trees complete the property. The address is approximately one mile from The Americana at Brand and Downtown Glendale, with nearby shopping, dining, parks, and entertainment. Walk Score is 97, Bike Score is 66, and Transit Score is 65.
A two-car garage, attached workshop, alley access, three additional parking spaces, and a backyard with mature shade trees complete the property. The address is approximately one mile from The Americana at Brand and Downtown Glendale, with nearby shopping, dining, parks, and entertainment. Walk Score is 97, Bike Score is 66, and Transit Score is 65.
Key Highlights
- 1920‑built triplex with two living units in the main house and a detached one‑bedroom guest house
- Lower unit includes two bedrooms, two full baths, formal dining, storage, laundry, and original architectural details
- Upper unit offers a bedroom, full bath, kitchen, dining nook, private exterior stairs, and large attic
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
$67,495
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
5.36%
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%
$1,349,900
$1.3M
Cap Rate 7%
$964,214
$964.2K
Cap Rate 9%
$749,944
$749.9K
Market Conditions
NOI Build-Up for 3,114 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
$102.8K $33.00/SF
− Vacancy
−$6.3K −$2.04/SF
EGI
$96.4K $30.96/SF
− OpEx
−$28.9K −$9.29/SF
NOI
$67.5K $21.67/SF
Area
Glendale, CA
Vacancy
6.17%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,349,900
Cap Rate 7%
$964,214
Cap Rate 9%
$749,944
Alternative Uses
Best Use
Multifamily LT 5
$964.2K
$843.7K – $1.12M
NOI $67,495 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$837.3K
$732.6K – $976.8K
NOI $58,610 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $131,099 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,907
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three living spaces provide kitchens, baths, storage, and separate access within a flexible residential configuration.
Where is this triplex located?
The property is located at 119 S Adams Glendale, CA.
What is the asking price?
The asking price for this property is $1,259,000.
What are key features of this property?
This property features: 1920‑built triplex with two living units in the main house and a detached one‑bedroom guest house; Lower unit includes two bedrooms, two full baths, formal dining, storage, laundry, and original architectural details; Upper unit offers a bedroom, full bath, kitchen, dining nook, private exterior stairs, and large attic
