Remodeled Triplex With Three-Car
For Sale
$1,198,000
Pending
1321 Orange Grove Ave, Glendale, CA 91205
Vacant renovated front residence, upgraded systems, and coin-operated laundry add flexibility for an owner-user or investor.
Property Size2,181 SF
Days on Market79
Property Features for 1321 Orange Grove Ave
General Information
Standard status
Pending
Size
2,181 SF
Total Parking Spaces
3
Property subtype
MULTI_FAMILY
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
community laundry room
Building Details
Building Size
2,181 SF
Year Built
1948
Listing Agency:
eXp Realty of Greater Los Angeles
Listed By:
Justin Borges · License #01940318
(323) 271-0788
Source:
Milsteinestates
Added: Jun 18
Changed: Aug 26
Last Checked: Aug 26 at 1:19PM
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 eXp Realty of Greater Los Angeles
Investment Insights
Based on property information with market context.
This Glendale triplex contains three residences, each with 2 bedrooms and 1 bath, along with a 3-car garage. The front unit is vacant and was renovated in 2016 with hardwood flooring, an updated kitchen, an improved bathroom, seismic retrofit work, two mini-split heating and air conditioning systems, and a tankless water heater. The property was built in 1948, and the roof was replaced in 2010.
Additional improvements to the front residence include fresh interior paint, recessed can-less lighting, updated light fixtures, and new exterior lighting. A community laundry room provides coin-operated washer and dryer equipment. The property is located near shopping, dining, transportation, and major employment centers in Glendale.
Additional improvements to the front residence include fresh interior paint, recessed can-less lighting, updated light fixtures, and new exterior lighting. A community laundry room provides coin-operated washer and dryer equipment. The property is located near shopping, dining, transportation, and major employment centers in Glendale.
Key Highlights
- Three‑unit configuration with 2 bedrooms and 1 bath in each residence
- Vacant front unit renovated in 2016
- 3‑car garage and community laundry room with coin‑operated washer and dryer units
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
$47,273
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
3.95%
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%
$945,460
$945.5K
Cap Rate 7%
$675,329
$675.3K
Cap Rate 9%
$525,256
$525.3K
Market Conditions
NOI Build-Up for 2,181 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
$72.0K $33.00/SF
− Vacancy
−$4.4K −$2.04/SF
EGI
$67.5K $30.96/SF
− OpEx
−$20.3K −$9.29/SF
NOI
$47.3K $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%
$945,460
Cap Rate 7%
$675,329
Cap Rate 9%
$525,256
Alternative Uses
Best Use
Multifamily LT 5
$675.3K
$590.9K – $787.9K
NOI $47,273 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$586.4K
$513.1K – $684.2K
NOI $41,050 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.31M
$1.15M – $1.53M
NOI $91,820 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,102
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?
Triplex - Vacant renovated front residence, upgraded systems, and coin-operated laundry add flexibility for an owner-user or investor.
Where is this triplex located?
The property is located at 1321 Orange Grove Ave Glendale, CA.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: Three‑unit configuration with 2 bedrooms and 1 bath in each residence; Vacant front unit renovated in 2016; 3‑car garage and community laundry room with coin‑operated washer and dryer units
