Building Details

Year Built 2026

Buildings 1

Stories 5

Units 80

Listing Agency: CBRE LA

Listed By: Jenny Eng · License #CA 01931224 Show Phone

Source: Crexi

Added: Jan 21 Changed: Oct 15 Last Checked: Oct 16 at 7:41AM

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Investment Insights

Based on property information with market context.

Nor Brand is an 80-unit multifamily development, representing new construction in the Greater Los Angeles market. Scheduled for delivery in 2026, this five-story asset is located on Brand Boulevard between Vassar Street and Topock Street. Situated on a ±27,430 SF GLM1AY-zoned parcel in Glendale’s urban core, Nor Brand offers connectivity with access to the I-5 and SR-2 corridors, positioning residents near employment centers throughout the San Fernando Valley and the Los Angeles Basin. The property is within walking distance of the Americana at Brand, surrounded by dining, retail, and lifestyle amenities. This multifamily investment opportunity has been developed with attention to architectural merit and operational excellence. The exterior design enhances the Brand Boulevard corridor, and the unit configurations optimize space efficiency and tenant appeal. The property size is 126,846 square feet.

Key Highlights

• Brand new construction, delivered in 2026, offering modern design and minimal maintenance.
• Prime location on Brand Boulevard, a highly visible corner near the Americana at Brand.
• Institutional‑quality asset, a best‑in‑class multifamily development.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$2,387,438

Cap Rate

4.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$47,748,760 $47.7M

Cap Rate 7%

$34,106,257 $34.1M

Cap Rate 9%

$26,527,089 $26.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 126,846 SF

Gross rent

$4.64M $36.60/SF

− Vacancy

−$301.8K −$2.38/SF

EGI

$4.34M $34.22/SF

− OpEx

−$1.95M −$15.40/SF

NOI

$2.39M $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%

$47,748,760

Cap Rate 7%

$34,106,257

Cap Rate 9%

$26,527,089

Alternative Uses

Best Use

Apartment 5plus

$34.11M

$29.84M – $39.79M (±1% cap)

NOI $2,387,438 @ 7.0% cap · market cap 4.34%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$76.29M

$66.75M – $89.00M (±1% cap)

NOI $5,340,185 @ 7.0% cap · market cap 9.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Pet Store Tattoo & Piercing Shop (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,704

Businesses Nearby

Explore this area Business Placement

Demographics for 91204, CA

17,302

Population

7,095

Households

2.4

Avg Household Size

39

Median Age

36%

College-Educated

82%

High-School Grad

1.0 sq mi

ZIP Area

17,302

Density / Sq Mi

$72,906

Median Household Income

$41,556

Median Earnings

$1,924

Median Rent

$747,400

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - 80-unit multifamily development in Glendale, CA, delivered in 2026.

Where is this apartment building located?

The property is located at 1838 S Brand Blvd Glendale, CA.

What is the asking price?

The asking price for this property is $55,000,000.

What are key features of this property?

This property features: Brand new construction, delivered in 2026, offering modern design and minimal maintenance.; Prime location on Brand Boulevard, a highly visible corner near the Americana at Brand.; Institutional‑quality asset, a best‑in‑class multifamily development.