Three-Unit Residential
New
For Sale
$1,400,000
408 Raymond, Glendale, CA 91201
Front residence plus two additional units creates a flexible multi-unit configuration near Glendale amenities.
Property Size2,923 SF
Days on Market5
Property Features for 408 Raymond
General Information
Standard status
Active
Size
2,923 SF
Property subtype
Investment
Lease Term
Month-to-month
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Building Size
2,923 SF
Year Built
1932
Buildings
1
Units
3
Listed By:
Maria Machado
(818) 830-7676
Source:
Elliman
Added: Sep 14
Last Checked: Sep 18 at 9:24AM
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 Maria Machado
Investment Insights
Based on property information with market context.
This 1932-built triplex comprises one larger front residence and two additional units. The front home offers 3 bedrooms and 2 bathrooms, while each of the other units includes 2 bedrooms and 1 bathroom. Copper plumbing is present in the main residence.
The property is located at 408 Raymond in Glendale, California, near shopping, dining, transportation, and other local amenities. WalkScore is 77, indicating a Very Walkable setting; BikeScore is 69, or Bikeable; and TransitScore is 51, rated Good Transit. The three-unit arrangement provides distinct residential spaces within one property.
The property is located at 408 Raymond in Glendale, California, near shopping, dining, transportation, and other local amenities. WalkScore is 77, indicating a Very Walkable setting; BikeScore is 69, or Bikeable; and TransitScore is 51, rated Good Transit. The three-unit arrangement provides distinct residential spaces within one property.
Key Highlights
- Three‑unit configuration with one 3‑bedroom, 2‑bath front residence
- Two additional units, each with 2 bedrooms and 1 bathroom
- Copper plumbing in the main residence
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
$63,355
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
4.53%
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%
$1,267,100
$1.3M
Cap Rate 7%
$905,071
$905.1K
Cap Rate 9%
$703,944
$703.9K
Market Conditions
NOI Build-Up for 2,923 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
$96.5K $33.00/SF
− Vacancy
−$6.0K −$2.04/SF
EGI
$90.5K $30.96/SF
− OpEx
−$27.2K −$9.29/SF
NOI
$63.4K $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%
$1,267,100
Cap Rate 7%
$905,071
Cap Rate 9%
$703,944
Alternative Uses
Best Use
Multifamily LT 5
$905.1K
$791.9K – $1.06M
NOI $63,355 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$785.9K
$687.7K – $916.9K
NOI $55,015 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $123,058 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,846
Businesses Nearby
Explore this area
Business Placement
Demographics for 91201, CA
22,608
Population
8,570
Households
2.6
Avg Household Size
43
Median Age
34%
College-Educated
86%
High-School Grad
2.4 sq mi
ZIP Area
9,420
Density / Sq Mi
$74,980
Median Household Income
$44,444
Median Earnings
$2,034
Median Rent
$1,060,500
Median Home Value
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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?
Triplex - Front residence plus two additional units creates a flexible multi-unit configuration near Glendale amenities.
Where is this triplex located?
The property is located at 408 Raymond Glendale, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Three‑unit configuration with one 3‑bedroom, 2‑bath front residence; Two additional units, each with 2 bedrooms and 1 bathroom; Copper plumbing in the main residence
