Well-Maintained Duplex with Private
For Sale
$998,000
Pending
422 N Everett St, Glendale, CA 91206
Two-unit duplex offers separate entrances and dedicated parking near Glendale retail and freeway access.
Property Size1,590 SF
Days on Market63
Property Features for 422 N Everett St
General Information
Standard status
Pending
Size
1,590 SF
Total Parking Spaces
3
Property subtype
Investment
Additional Details
Multifamily Units
2
Building Details
Building Size
1,590 SF
Year Built
1937
Stories
2
Units
2
Listing Agency:
Karon Properties
Listed By:
Eli Karon · License #01732369
(310) 701-4779
Source:
Elliman
Added: Jul 5
Changed: Aug 8
Last Checked: Jul 23 at 11:37AM
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 Karon Properties
Investment Insights
Based on property information with market context.
Built in 1937, this well-maintained duplex at 422 N Everett St features two separate residences with private entrances. The lower unit is a spacious 2-bedroom, 1-bath layout, while the upper unit offers 1 bedroom and 1 bathroom. Each residence is set up for day-to-day convenience, including dedicated parking. The lower unit has two assigned side-by-side parking spaces, and the upper unit includes one assigned tandem parking space at the rear of the property. The exterior has been freshly painted, and the grounds have been newly landscaped, enhancing curb appeal and first impressions.
The property is positioned in one of Glendale’s most convenient and sought-after neighborhoods, with easy proximity to The Americana at Brand, Glendale Galleria, Whole Foods, and a variety of restaurants and shopping. It also provides easy access to the 134 Freeway. Walk Score is listed at 80 (Very Walkable), with Bike Score of 51 (Bikeable) and Transit Score of 48 (Some Transit).
This configuration can fit an owner-occupant looking to live in one unit while renting the other, as well as multigenerational households that want separate living spaces under one roof. It also appeals to investors seeking a duplex setup with two distinct residences and dedicated parking for residents.
The property is positioned in one of Glendale’s most convenient and sought-after neighborhoods, with easy proximity to The Americana at Brand, Glendale Galleria, Whole Foods, and a variety of restaurants and shopping. It also provides easy access to the 134 Freeway. Walk Score is listed at 80 (Very Walkable), with Bike Score of 51 (Bikeable) and Transit Score of 48 (Some Transit).
This configuration can fit an owner-occupant looking to live in one unit while renting the other, as well as multigenerational households that want separate living spaces under one roof. It also appeals to investors seeking a duplex setup with two distinct residences and dedicated parking for residents.
Key Highlights
- Duplex built in 1937 with two separate residences at 422 N Everett Street, each with its own private entrance
- Lower unit: 2 bedrooms, 1 bathroom, with two assigned side‑by‑side parking spaces
- Upper unit: 1 bedroom, 1 bathroom, with one assigned tandem parking space at the rear of the property
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
$34,463
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
3.45%
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%
$689,260
$689.3K
Cap Rate 7%
$492,329
$492.3K
Cap Rate 9%
$382,922
$382.9K
Market Conditions
NOI Build-Up for 1,590 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
$52.5K $33.00/SF
− Vacancy
−$3.2K −$2.04/SF
EGI
$49.2K $30.96/SF
− OpEx
−$14.8K −$9.29/SF
NOI
$34.5K $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%
$689,260
Cap Rate 7%
$492,329
Cap Rate 9%
$382,922
Alternative Uses
Best Use
Multifamily LT 5
$492.3K
$430.8K – $574.4K
NOI $34,463 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$427.5K
$374.1K – $498.8K
NOI $29,926 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$956.3K
$836.7K – $1.12M
NOI $66,939 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,969
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?
Duplex - Two-unit duplex offers separate entrances and dedicated parking near Glendale retail and freeway access.
Where is this duplex located?
The property is located at 422 N Everett St Glendale, CA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Duplex built in 1937 with two separate residences at 422 N Everett Street, each with its own private entrance; Lower unit: 2 bedrooms, 1 bathroom, with two assigned side‑by‑side parking spaces; Upper unit: 1 bedroom, 1 bathroom, with one assigned tandem parking space at the rear of the property
