Condominium Apartment
For Sale
$12,400,000
Pending
201 N Belmont, Glendale, CA 91206
Condominium-style multifamily with 26 units and in-unit washer and dryer hookups, balconies or patios.
Property Size37,295 SF
Days on Market60
Property Features for 201 N Belmont
General Information
Standard status
Pending
Size
37,295 SF
Property subtype
Commercial
Additional Details
Multifamily Units
26
Building Details
Year Built
1985
Listing Agency:
Keller Williams World Media Center
(559) 638-3651
Listed By:
Levon Alexanian (info@alexanianadvisors.com) · License #00911091
Source:
Valleyland
Added: Jul 3
Changed: Aug 24
Last Checked: Jul 31 at 2:59AM
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.
The Belmont Plaza Condos is a condominium-style multifamily property consisting of 26 units. Built originally as condominiums, the building totals approximately 37,295 square feet, with an average unit size of roughly 1,434 square feet. The unit mix is heavily weighted toward large two- and three-bedroom floor plans. Each unit includes washer and dryer hookups and features private balconies or patios, supporting a larger-format rental experience.
Located at 201 N Belmont Street in Glendale, California, the property is presented as being offered for acquisition for the first time in 4 decades. The remarks note a 93 Walk Score and immediate access to area retail and dining options including Erewhon, Whole Foods, The Americana at Brand, Glendale Galleria, Portos, Nordstrom Rack, and Brand Boulevard.
This configuration can fit investors and operators seeking a larger-unit Glendale multifamily product with in-unit laundry connections and outdoor space for residents. With the property’s condominium background and consistent amenities across units, it may appeal to buyers looking for a differentiated income profile centered on spacious 2- and 3-bedroom layouts.
Located at 201 N Belmont Street in Glendale, California, the property is presented as being offered for acquisition for the first time in 4 decades. The remarks note a 93 Walk Score and immediate access to area retail and dining options including Erewhon, Whole Foods, The Americana at Brand, Glendale Galleria, Portos, Nordstrom Rack, and Brand Boulevard.
This configuration can fit investors and operators seeking a larger-unit Glendale multifamily product with in-unit laundry connections and outdoor space for residents. With the property’s condominium background and consistent amenities across units, it may appeal to buyers looking for a differentiated income profile centered on spacious 2- and 3-bedroom layouts.
Key Highlights
- The Belmont Plaza Condos: 26‑unit condominium‑style multifamily at 201 N Belmont Street, Glendale, CA.
- Approx. 37,295 SF total with an average unit size of roughly 1,434 SF.
- Unit mix heavily weighted to very large 2- and 3‑bedroom floor plans.
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
$701,950
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
5.66%
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%
$14,039,000
$14.0M
Cap Rate 7%
$10,027,857
$10.0M
Cap Rate 9%
$7,799,444
$7.8M
Market Conditions
NOI Build-Up for 37,295 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
$1.36M $36.60/SF
− Vacancy
−$88.7K −$2.38/SF
EGI
$1.28M $34.22/SF
− OpEx
−$574.3K −$15.40/SF
NOI
$701.9K $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%
$14,039,000
Cap Rate 7%
$10,027,857
Cap Rate 9%
$7,799,444
Alternative Uses
Best Use
Apartment 5plus
$10.03M
$8.77M – $11.70M
NOI $701,950 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$22.43M
$19.63M – $26.17M
NOI $1,570,110 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26
Residential units
Location Intelligence
Trade Area within ½ mile
6,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 91206, CA
33,252
Population
13,767
Households
2.4
Avg Household Size
43
Median Age
47%
College-Educated
90%
High-School Grad
5.8 sq mi
ZIP Area
5,733
Density / Sq Mi
$86,684
Median Household Income
$52,517
Median Earnings
$2,159
Median Rent
$1,094,100
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 - Condominium-style multifamily with 26 units and in-unit washer and dryer hookups, balconies or patios.
Where is this apartment building located?
The property is located at 201 N Belmont Glendale, CA.
What is the asking price?
The asking price for this property is $12,400,000.
What are key features of this property?
This property features: The Belmont Plaza Condos: 26‑unit condominium‑style multifamily at 201 N Belmont Street, Glendale, CA.; Approx. 37,295 SF total with an average unit size of roughly 1,434 SF.; Unit mix heavily weighted to very large 2- and 3‑bedroom floor plans.
