Thirty-Two-Unit Apartment
For Sale
$3,550,000
1502 E Broadway, Glendale, CA 91205
Portfolio includes two on-site laundry rooms, separately metered gas and electricity, and individual hot water heaters.
Property Size7,598 SF
Price / SF$467.23
Days on Market172
Property Features for 1502 E Broadway
General Information
Standard status
Active
Size
7,598 SF
Total Parking Spaces
32
Property subtype
Multi-family
Zoning
R2250
Units
Unit Mix
32 x 1BR/1BA
Multifamily Units
32
Amenities
on-site laundry
storage units
Building Details
Year Built
1954
Buildings
2
Listing Agency:
Marcus & Millichap
Listed By:
Sevak Keshishian
(714) 497-3550
Source:
Sevengables
Added: Feb 11
Changed: Jul 31
Last Checked: Aug 1 at 2:29AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
The MayBro Apartment Portfolio offers a total of thirty-two one-bedroom, one-bath apartment units across two separate sixteen-unit buildings on individual parcels. Both properties were constructed in 1954 and include on-site laundry rooms. All units are separately metered for gas and electricity and each unit has an individual hot water heater. Most units have been renovated during ownership.
At 1502 E. Broadway, tenants have access to 20 parking spaces. At 121 Maynard St., tenants have 12 parking spaces and access to 12 storage units, plus an additional owner’s storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250.
At 1502 E. Broadway, tenants have access to 20 parking spaces. At 121 Maynard St., tenants have 12 parking spaces and access to 12 storage units, plus an additional owner’s storage shed at the rear of 121 Maynard St. Both properties are zoned for R2250.
Key Highlights
- Thirty‑two one‑bedroom, one‑bath units across two separate sixteen‑unit buildings
- Constructed in 1954
- On‑site laundry at both 1502 E. Broadway and 121 Maynard St.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $278.1k | $36.60 |
| − Vacancy | −$18.1k | −$2.38 |
| EGI | $260.0k | $34.22 |
| − OpEx | −$117.0k | −$15.40 |
| NOI | $143.0k | $18.82 |
7,598 SF · lease $36.60/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $143,006 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.57M
$4.00M – $5.33M
NOI $319,874 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
7,961
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 - Portfolio includes two on-site laundry rooms, separately metered gas and electricity, and individual hot water heaters.
Where is this apartment building located?
The property is located at 1502 E Broadway Glendale, CA.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Thirty‑two one‑bedroom, one‑bath units across two separate sixteen‑unit buildings; Constructed in 1954; On‑site laundry at both 1502 E. Broadway and 121 Maynard St.
