Two-Building Apartment
For Sale
$2,950,000
1344 Broadway, Glendale, CA 91205
Separate residential buildings share one parcel near restaurants, shopping, entertainment, and everyday conveniences.
Property Size4,836 SF
Lot Size0.18 Acres
Price / SF$610.01
Days on Market11
Property Features for 1344 Broadway
General Information
Standard status
Active
Size
4,836 SF
Lot size
0.18 Acres
Property subtype
General Commercial
Additional Details
Gross Income
$286,200
Building Details
Year Built
1982
Buildings
2
Listing Agency:
Magic Realty
(818) 240-8080
Listed By:
Sean Madadian · License #01066622
Source:
Xome
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 31 at 1:00PM
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 Magic Realty
Investment Insights
Based on property information with market context.
This multifamily apartment property comprises 2 separate buildings on a single parcel, with approximately 4,836 square feet of total building area on an approximately 8,050 square foot lot. The improvements were built in 1982. Existing units have been divided without adding building square footage, creating a configuration that warrants review of the unit layout and related property details.
The property is within walking distance of restaurants, shopping, entertainment, and daily conveniences. Glendale High School, The Americana at Brand, and Glendale Galleria are also identified in the surrounding area. Walk Score is 97, Bike Score is 66, and Transit Score is 65, providing measurable context for pedestrian, bicycle, and transit access.
The property is within walking distance of restaurants, shopping, entertainment, and daily conveniences. Glendale High School, The Americana at Brand, and Glendale Galleria are also identified in the surrounding area. Walk Score is 97, Bike Score is 66, and Transit Score is 65, providing measurable context for pedestrian, bicycle, and transit access.
Key Highlights
- Approximately 4,836 SF of total building area
- Approximately 8,050 SF lot
- 2 separate buildings on the same parcel
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
$91,021
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
3.09%
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%
$1,820,420
$1.8M
Cap Rate 7%
$1,300,300
$1.3M
Cap Rate 9%
$1,011,344
$1.0M
Market Conditions
NOI Build-Up for 4,836 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
$177.0K $36.60/SF
− Vacancy
−$11.5K −$2.38/SF
EGI
$165.5K $34.22/SF
− OpEx
−$74.5K −$15.40/SF
NOI
$91.0K $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%
$1,820,420
Cap Rate 7%
$1,300,300
Cap Rate 9%
$1,011,344
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,021 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.91M
$2.54M – $3.39M
NOI $203,594 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Apartment building - Separate residential buildings share one parcel near restaurants, shopping, entertainment, and everyday conveniences.
Where is this apartment building located?
The property is located at 1344 Broadway Glendale, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Approximately 4,836 SF of total building area; Approximately 8,050 SF lot; 2 separate buildings on the same parcel
