18-Unit Apartment
New
For Sale
$4,450,000
1600 E Broadway, Glendale, CA 91205
A Glendale multifamily property with spacious floor plans and a highly walkable setting.
Property Size11,316 SF
Price / SF$393.25
Days on Market4
Property Features for 1600 E Broadway
General Information
Standard status
Active
Size
11,316 SF
Property subtype
Apartment
Financials
Asking Price
$4,450,000
Cap Rate
5.66%
Additional Details
Multifamily Units
18
Building Details
Building Size
11,316 SF
Year Built
1950
Buildings
1
Listing Agency:
Keller Williams World Media Center
Listed By:
Levon Alexanian · License #00911091
(818) 239-3500
Source:
Milsteinestates
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 1:56PM
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 Keller Williams World Media Center
Investment Insights
Based on property information with market context.
This 18-unit apartment property in Glendale contains 11,316 square feet and was built in 1950. Spacious floor plans are noted among the property’s residential features.
The address is 1600 E Broadway, Glendale, CA 91205. The property has a Walk Score of 84 and is approximately 1.5 miles from The Americana at Brand. In-N-Out Burger, Glendale Adventist Hospital, and Glendale High School are within walking distance.
The address is 1600 E Broadway, Glendale, CA 91205. The property has a Walk Score of 84 and is approximately 1.5 miles from The Americana at Brand. In-N-Out Burger, Glendale Adventist Hospital, and Glendale High School are within walking distance.
Key Highlights
- 18 apartment units
- 11,316‑square‑foot building, constructed in 1950
- Walk Score of 84
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
$212,985
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
4.79%
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%
$4,259,700
$4.3M
Cap Rate 7%
$3,042,643
$3.0M
Cap Rate 9%
$2,366,500
$2.4M
Market Conditions
NOI Build-Up for 11,316 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
$414.2K $36.60/SF
− Vacancy
−$26.9K −$2.38/SF
EGI
$387.2K $34.22/SF
− OpEx
−$174.3K −$15.40/SF
NOI
$213.0K $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%
$4,259,700
Cap Rate 7%
$3,042,643
Cap Rate 9%
$2,366,500
Alternative Uses
Best Use
Apartment 5plus
$3.04M
$2.66M – $3.55M
NOI $212,985 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.81M
$5.96M – $7.94M
NOI $476,401 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - A Glendale multifamily property with spacious floor plans and a highly walkable setting.
Where is this apartment building located?
The property is located at 1600 E Broadway Glendale, CA.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: 18 apartment units; 11,316‑square‑foot building, constructed in 1950; Walk Score of 84
