16-Unit Apartment
For Sale
$6,100,000
433 N Louise, Glendale, CA 91206
Central HVAC, gated parking, and on-site laundry support the property’s residential operation.
Property Size17,432 SF
Price / SF$349.93
Days on Market9
Property Features for 433 N Louise
General Information
Standard status
Active
Size
17,432 SF
Property subtype
Apartment
Units
Unit Mix
4 x 1BR, 12 x 2BR
Multifamily Units
16
Amenities
laundry rooms
gated parking
fireplaces
central HVAC
Building Details
Building Size
17,432 SF
Year Built
1985
Listing Agency:
David N. Schultz
Listed By:
Jennifer Bertolet · License #01198189
(818) 240-1070
Source:
Carolinakramer
Added: Sep 7
Changed: Sep 14
Last Checked: Sep 15 at 11:01AM
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 David N. Schultz
Investment Insights
Based on property information with market context.
Located at 433 N Louise in Glendale, this 16-unit apartment property was built in 1985 and offers a mix of four one-bedroom residences and 12 two-bedroom residences. Most units have been upgraded with luxury vinyl plank flooring and granite or quartz countertops, while 14 units include fireplaces. Central HVAC serves every unit.
The property also includes two laundry rooms and gated parking. Brand Boulevard’s shopping and dining are within walking distance. The asset has been held by the same ownership since 1995 and is now being offered for sale.
The property also includes two laundry rooms and gated parking. Brand Boulevard’s shopping and dining are within walking distance. The asset has been held by the same ownership since 1995 and is now being offered for sale.
Key Highlights
- 16‑unit apartment property with 4 one‑bedroom and 12 two‑bedroom units
- Built in 1985 with upgrades in most units
- 14 units feature fireplaces
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
$328,097
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
5.38%
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%
$6,561,940
$6.6M
Cap Rate 7%
$4,687,100
$4.7M
Cap Rate 9%
$3,645,522
$3.6M
Market Conditions
NOI Build-Up for 17,432 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
$638.0K $36.60/SF
− Vacancy
−$41.5K −$2.38/SF
EGI
$596.5K $34.22/SF
− OpEx
−$268.4K −$15.40/SF
NOI
$328.1K $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%
$6,561,940
Cap Rate 7%
$4,687,100
Cap Rate 9%
$3,645,522
Alternative Uses
Best Use
Apartment 5plus
$4.69M
$4.10M – $5.47M
NOI $328,097 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.48M
$9.17M – $12.23M
NOI $733,883 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
8,274
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
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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?
Apartment building - Central HVAC, gated parking, and on-site laundry support the property’s residential operation.
Where is this apartment building located?
The property is located at 433 N Louise Glendale, CA.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: 16‑unit apartment property with 4 one‑bedroom and 12 two‑bedroom units; Built in 1985 with upgrades in most units; 14 units feature fireplaces
