8-Unit Apartment
For Sale
$2,250,000
331 W Windsor Rd, Glendale, CA 91204
Built in 1957, the property offers eight one-bedroom units with on-site laundry and five private one-car garages.
Property Size4,708 SF
Lot Size0.17 Acres
Price / SF$477.91
Days on Market115
Property Features for 331 W Windsor Rd
General Information
Standard status
Active
Size
4,708 SF
Total Parking Spaces
7
Lot size
0.17 Acres
Property subtype
Multifamily
Zoning
R2250
Additional Details
Cap Rate
5.55%
Multifamily Units
8
Amenities
on-site laundry
security system
Very Well-Maintained Asset
All One Bedroom Units
Five of Eight Units Recently Renovated
Five Private One-Car Garages
Lots of Recent Upgrades
Landlord Friendly City – Glendale is Subject to AB1482 and Allows Higher Rental Increase Amounts than the City of Los Angeles or Unincorporated Los Angeles County
Building Details
Building Size
4,708 SF
Year Built
1957
Units
8
Tenancy
Multi
Listing Agency:
Encino Office
Listed By:
Sev Keshishian · License #License(s): CA: 01887505
(818) 212-2694
Source:
Marcusmillichap
Added: May 18
Changed: Aug 7
Last Checked: Sep 8 at 3:42AM
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 Encino Office
Investment Insights
Based on property information with market context.
331 W. Windsor Rd is a well-maintained 8-unit multifamily property built in 1957, comprised of eight one-bedroom, one-bathroom units. Five of the units have been extensively renovated with modern appliances, quartz countertops, new kitchen cabinetry, new windows, and renovated bathrooms. The property also includes multiple capital upgrades such as tankless water heaters, upgraded drain and sewer lines, new paint, new gutters, upgraded plumbing lines, new stairs, repaired walkways, electrical upgrades, artificial grass, and a new security system.
Parking and resident convenience are supported by five private one-car garages plus two surface parking spaces. On-site laundry is available with machines that are owned.
The property is positioned just east of S. Central Avenue and three blocks north of W. Chevy Chase Drive, with both The Americana at Brand and the Glendale Galleria located under a mile away. The asset is subject to Glendale’s Rental Ordinance aligned with statewide AB 1482, which allows annual rent increases of 5% + CPI. The property is located on a lot zoned R2250, supporting the existing 8-unit configuration under current zoning parameters.
Parking and resident convenience are supported by five private one-car garages plus two surface parking spaces. On-site laundry is available with machines that are owned.
The property is positioned just east of S. Central Avenue and three blocks north of W. Chevy Chase Drive, with both The Americana at Brand and the Glendale Galleria located under a mile away. The asset is subject to Glendale’s Rental Ordinance aligned with statewide AB 1482, which allows annual rent increases of 5% + CPI. The property is located on a lot zoned R2250, supporting the existing 8-unit configuration under current zoning parameters.
Key Highlights
- 8‑unit multifamily built in 1957, totaling 4,708 SF with eight 1BD/1BA units
- Five units have extensive renovations including modern appliances, quartz countertops, new cabinetry, new windows, and renovated bathrooms
- Additional income includes monthly laundry and parking from five private 1‑car garages, plus on‑site laundry with owned machines
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
$88,612
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
3.94%
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%
$1,772,240
$1.8M
Cap Rate 7%
$1,265,886
$1.3M
Cap Rate 9%
$984,578
$984.6K
Market Conditions
NOI Build-Up for 4,708 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
$172.3K $36.60/SF
− Vacancy
−$11.2K −$2.38/SF
EGI
$161.1K $34.22/SF
− OpEx
−$72.5K −$15.40/SF
NOI
$88.6K $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%
$1,772,240
Cap Rate 7%
$1,265,886
Cap Rate 9%
$984,578
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,612 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.83M
$2.48M – $3.30M
NOI $198,206 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 91204, CA
17,302
Population
7,095
Households
2.4
Avg Household Size
39
Median Age
36%
College-Educated
82%
High-School Grad
1.0 sq mi
ZIP Area
17,302
Density / Sq Mi
$72,906
Median Household Income
$41,556
Median Earnings
$1,924
Median Rent
$747,400
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 - Built in 1957, the property offers eight one-bedroom units with on-site laundry and five private one-car garages.
Where is this apartment building located?
The property is located at 331 W Windsor Rd Glendale, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 8‑unit multifamily built in 1957, totaling 4,708 SF with eight 1BD/1BA units; Five units have extensive renovations including modern appliances, quartz countertops, new cabinetry, new windows, and renovated bathrooms; Additional income includes monthly laundry and parking from five private 1‑car garages, plus on‑site laundry with owned machines
