Glendale Duplex with Development
For Sale
$841,000
1538 E Broadway, Glendale, CA 91205
Duplex on large lot with potential for expansion or ADUs.
Property Size1,368 SF
Days on Market211
Property Features for 1538 E Broadway
General Information
Standard status
Active
Size
1,368 SF
Property subtype
Duplex
Building Details
Building Size
1,368 SF
Year Built
1937
Stories
1
Listing Agency:
Re/Max One
(562) 449-7228
Listed By:
Ramon Rascon · License #01157350
(562) 449-7228
Source:
Kw
Added: Jan 28
Changed: Aug 26
Last Checked: Aug 26 at 3:36PM
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 Re/Max One
Investment Insights
Based on property information with market context.
This duplex presents an investment opportunity on a large lot with a detached garage. The property offers potential for expansion or the construction of Additional Dwelling Units (ADUs). Situated in a convenient location, the property provides easy access to the freeway and is close to various amenities. The units are currently vacant, allowing for immediate renovation or redevelopment.
Key Highlights
- Large lot with potential to add on or build Additional Dwelling Units (ADUs).
- Detached garage.
- Vacant duplex 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
$29,651
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
3.53%
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%
$593,020
$593.0K
Cap Rate 7%
$423,586
$423.6K
Cap Rate 9%
$329,456
$329.5K
Market Conditions
NOI Build-Up for 1,368 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
$45.1K $33.00/SF
− Vacancy
−$2.8K −$2.04/SF
EGI
$42.4K $30.96/SF
− OpEx
−$12.7K −$9.29/SF
NOI
$29.7K $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%
$593,020
Cap Rate 7%
$423,586
Cap Rate 9%
$329,456
Alternative Uses
Best Use
Multifamily LT 5
$423.6K
$370.6K – $494.2K
NOI $29,651 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$367.8K
$321.9K – $429.1K
NOI $25,748 @ 7.0% cap · market cap 3.06%
Theoretical Best
Specialty Retail
$822.7K
$719.9K – $959.9K
NOI $57,592 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,023
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?
Duplex - Duplex on large lot with potential for expansion or ADUs.
Where is this duplex located?
The property is located at 1538 E Broadway Glendale, CA.
What is the asking price?
The asking price for this property is $841,000.
What are key features of this property?
This property features: Large lot with potential to add on or build Additional Dwelling Units (ADUs).; Detached garage.; Vacant duplex units.
