Apartment
For Sale
$4,350,000
1320 N Columbus Ave, Glendale, CA 91202
Apartment building built in 1961, maintained by the current ownership for over 50 years.
Property Size14,326 SF
Days on Market96
Property Features for 1320 N Columbus Ave
General Information
Standard status
Active
Size
14,326 SF
Property subtype
Multifamily
Building Details
Building Size
14,326 SF
Year Built
1961
Listing Agency:
Lee & Associates - Pasadena
Listed By:
Robert Leveen · License #CalDRE #01476685
(310) 428-7580
Source:
Lee-associates
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 4 at 3:04AM
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 Lee & Associates - Pasadena
Investment Insights
Based on property information with market context.
This apartment building was built in 1961 and has been meticulously maintained by the current ownership for over 50 years. The property’s long-term care and upkeep may be attractive for buyers seeking steady, well-managed multifamily housing.
The property is located at 1320 N Columbus Ave in Glendale, CA 91202.
The property is located at 1320 N Columbus Ave in Glendale, CA 91202.
Key Highlights
- Built in 1961
- Meticulously maintained by current ownership for over 50 years
- Apartment building in Glendale, CA
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
$269,638
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
6.20%
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%
$5,392,760
$5.4M
Cap Rate 7%
$3,851,971
$3.9M
Cap Rate 9%
$2,995,978
$3.0M
Market Conditions
NOI Build-Up for 14,326 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
$524.3K $36.60/SF
− Vacancy
−$34.1K −$2.38/SF
EGI
$490.3K $34.22/SF
− OpEx
−$220.6K −$15.40/SF
NOI
$269.6K $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%
$5,392,760
Cap Rate 7%
$3,851,971
Cap Rate 9%
$2,995,978
Alternative Uses
Best Use
Apartment 5plus
$3.85M
$3.37M – $4.49M
NOI $269,638 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.62M
$7.54M – $10.05M
NOI $603,121 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,411
Businesses Nearby
Explore this area
Business Placement
Demographics for 91202, CA
22,875
Population
9,177
Households
2.5
Avg Household Size
42
Median Age
49%
College-Educated
91%
High-School Grad
4.9 sq mi
ZIP Area
4,668
Density / Sq Mi
$92,343
Median Household Income
$55,266
Median Earnings
$2,185
Median Rent
$1,094,500
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 - Apartment building built in 1961, maintained by the current ownership for over 50 years.
Where is this apartment building located?
The property is located at 1320 N Columbus Ave Glendale, CA.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Built in 1961; Meticulously maintained by current ownership for over 50 years; Apartment building in Glendale, CA
