5-Unit Apartment
New
For Sale
$1,800,000
122 N Cedar St, Glendale, CA 91206
One- and two-bedroom floor plans provide a varied residential mix, with central HVAC in every unit.
Property Size6,136 SF
Price / SF$293.35
Days on Market4
Property Features for 122 N Cedar St
General Information
Standard status
Active
Size
6,136 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
6,136 SF
Year Built
1970
Listing Agency:
Keller Williams Los Angeles
Listed By:
Maria Sarmiento · License #01837686
(833) 832-6770
Source:
Carolinakramer
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 12:37PM
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 Los Angeles
Investment Insights
Based on property information with market context.
This 1970 apartment property contains five residences across approximately 6,090 square feet of building area on an approximately 7,500-square-foot lot. The mix comprises one 1-bedroom, 1-bathroom unit and four 2-bedroom, 2-bathroom units; the largest residence has laminate flooring. Central HVAC serves all five units, and six-car garage parking is provided.
Updates include a roof installed in 2025 and electrical work with subpanels completed in 2025. Copper plumbing is estimated to be about five years old. The property has one water meter, six gas meters, and six electrical meters. It is in Glendale’s Citrus Grove area, near schools, retail, dining, parks, and other local amenities.
Updates include a roof installed in 2025 and electrical work with subpanels completed in 2025. Copper plumbing is estimated to be about five years old. The property has one water meter, six gas meters, and six electrical meters. It is in Glendale’s Citrus Grove area, near schools, retail, dining, parks, and other local amenities.
Key Highlights
- Five residences: one 1‑bedroom, 1‑bathroom unit and four 2‑bedroom, 2‑bathroom units
- Approximately 6,090 square feet of building area on an approximately 7,500‑square‑foot lot
- Six‑car garage parking
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
$115,489
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
6.42%
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%
$2,309,780
$2.3M
Cap Rate 7%
$1,649,843
$1.6M
Cap Rate 9%
$1,283,211
$1.3M
Market Conditions
NOI Build-Up for 6,136 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
$224.6K $36.60/SF
− Vacancy
−$14.6K −$2.38/SF
EGI
$210.0K $34.22/SF
− OpEx
−$94.5K −$15.40/SF
NOI
$115.5K $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%
$2,309,780
Cap Rate 7%
$1,649,843
Cap Rate 9%
$1,283,211
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,489 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.69M
$3.23M – $4.31M
NOI $258,324 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 91206, CA
33,252
Population
13,767
Households
2.4
Avg Household Size
43
Median Age
47%
College-Educated
90%
High-School Grad
5.8 sq mi
ZIP Area
5,733
Density / Sq Mi
$86,684
Median Household Income
$52,517
Median Earnings
$2,159
Median Rent
$1,094,100
Median Home Value
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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?
Apartment building - One- and two-bedroom floor plans provide a varied residential mix, with central HVAC in every unit.
Where is this apartment building located?
The property is located at 122 N Cedar St Glendale, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Five residences: one 1‑bedroom, 1‑bathroom unit and four 2‑bedroom, 2‑bathroom units; Approximately 6,090 square feet of building area on an approximately 7,500‑square‑foot lot; Six‑car garage parking
