Two-Building Apartment
For Sale
$2,950,000
1344 E 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 Market59
Property Features for 1344 E Broadway
General Information
Standard status
Active
Size
4,836 SF
Lot size
0.18 Acres
Site & Location
Neighborhood
Citrus Grove
Additional Details
Gross Income
$286,200
Building Details
Year Built
1982
Buildings
2
Listing Agency:
Magic Realty
Listed By:
Sean Madadian · License #01066622
(818) 635-3500
Source:
Myfabuloushome
Added: Aug 26
Changed: Oct 6
Last Checked: Oct 7 at 3:41PM
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
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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 / Yr
$91,021
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
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
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 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.
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 E 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
