Sixteen-Unit Apartment
For Sale
$3,550,000
121 Maynard Street, Glendale, CA 91205
Two separate 16-unit apartment buildings feature separately metered utilities, on-site laundry, and R2250 zoning.
Property Size7,856 SF
Price / SF$451.88
Days on Market175
Property Features for 121 Maynard Street
General Information
Standard status
Active
Size
7,856 SF
Property subtype
Multi-family
Zoning
R2250
Amenities
on-site laundry room
separately metered for gas and electricity
individual hot water heaters
Building Details
Year Built
1954
Listing Agency:
Marcus & Millichap
Listed By:
Sevak Keshishian
(714) 497-3550
Source:
Sevengables
Added: Feb 11
Changed: Jul 31
Last Checked: Aug 2 at 3:17PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present The MayBro Apartment Portfolio, a two-property multifamily offering in the Citrus Grove neighborhood of Glendale. The portfolio includes 121 Maynard St. and 1502 E. Broadway, each a sixteen-unit apartment building on separate parcels.
Both properties were constructed in 1954 and consist of sixteen one-bedroom, one-bathroom units per building. The average unit size at both properties is almost 500 square feet, and most units have been renovated during ownership. Each building has its own on-site laundry room. Tenants have separately metered gas and electricity, and each unit has an individual hot water heater.
Parking and storage amenities support day-to-day tenant use. 1502 E. Broadway provides 20 parking spaces, while 121 Maynard St. provides 12 parking spaces plus 12 storage units. There is also an additional owner’s storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250.
Both properties were constructed in 1954 and consist of sixteen one-bedroom, one-bathroom units per building. The average unit size at both properties is almost 500 square feet, and most units have been renovated during ownership. Each building has its own on-site laundry room. Tenants have separately metered gas and electricity, and each unit has an individual hot water heater.
Parking and storage amenities support day-to-day tenant use. 1502 E. Broadway provides 20 parking spaces, while 121 Maynard St. provides 12 parking spaces plus 12 storage units. There is also an additional owner’s storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250.
Key Highlights
- Two 16‑unit apartment buildings on separate parcels
- Constructed in 1954; sixteen one‑bedroom, one‑bath units per building
- Separately metered gas and electricity with individual hot water heaters
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $287.5k | $36.60 |
| − Vacancy | −$18.7k | −$2.38 |
| EGI | $268.8k | $34.22 |
| − OpEx | −$121.0k | −$15.40 |
| NOI | $147.9k | $18.82 |
7,856 SF · lease $36.60/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.85M – $2.46M
NOI $147,862 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.72M
$4.13M – $5.51M
NOI $330,736 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,623
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 - Two separate 16-unit apartment buildings feature separately metered utilities, on-site laundry, and R2250 zoning.
Where is this apartment building located?
The property is located at 121 Maynard Street Glendale, CA.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Two 16‑unit apartment buildings on separate parcels; Constructed in 1954; sixteen one‑bedroom, one‑bath units per building; Separately metered gas and electricity with individual hot water heaters
