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1838 S Brand Blvd, Glendale, CA 91204
80-unit multifamily development in Glendale, CA, delivered in 2026.
Property Size126,846 SF
Lot Size0.63 Acres
Price / SF$409.95
Days on Market221
Property Features for 1838 S Brand Blvd
General Information
Standard status
Active
Size
126,846 SF
Class
A
Lot size
0.63 Acres
Property subtype
Multifamily
Zoning
GLM1AY
Building Details
Year Built
2026
Buildings
1
Stories
5
Units
80
Listing Agency:
CBRE LA
(239) 631-8788
Listed By:
Jenny Eng · License #CA 01931224
Source:
Crexi
Added: Jan 21
Changed: Aug 28
Last Checked: Aug 30 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 CBRE LA
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 = 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
$2,387,438
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
4.59%
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%
$47,748,760
$47.7M
Cap Rate 7%
$34,106,257
$34.1M
Cap Rate 9%
$26,527,089
$26.5M
Market Conditions
NOI Build-Up for 126,846 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
$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 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%
$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
NOI $2,387,438 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$76.29M
$66.75M – $89.00M
NOI $5,340,185 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $52,000,000.
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.
