23-Unit Multifamily
519 South St Glendale, CA 91202
519 South St, Glendale, CA, 91202
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For Sale
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Twenty-one of 23 units are currently occupied in a 1986-built multifamily property in Glendale.
Property Size17,804 SF
Price / SF$466.19
Days on Market23
Property Features for 519 South St
General Information
- Standard status
- Active
- Size
- 17,804 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1986
Listing agency
Lyon Stahl Investment Real Estate
Listed by
Taylor Avakian · License #CA 02060040
Source
Crexi
Added: Jun 29 Updated: Jul 20 at 5:02PM Checked: Jul 21 at 1:55PM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
519 South St is a 23-unit multifamily property built in 1986. The community offers a mix of 14 two-bedroom/two-bath residences and 9 one-bedroom/one-bath residences, with unit sizes averaging 774 square feet across 17,804 square feet of building area. Currently, 21 units are occupied and generating $52,480 in monthly gross rent.
The property sits on an 18,121 square foot lot. Utilities are separately metered, with electric and gas shift utility costs passed to residents. Unit 205 is currently operating as a manager unit at $500 per month, and two additional units are available for lease-up.
From a leasing and income standpoint, the information provided indicates current rents average $2,282 per unit versus market rents near $2,917, reflecting a rent gap attributable to natural tenant turnover. The remarks also note the property is outside California AB 1482 rent control protections, which the seller states provides new ownership flexibility to reset rents at each vacancy.
The property sits on an 18,121 square foot lot. Utilities are separately metered, with electric and gas shift utility costs passed to residents. Unit 205 is currently operating as a manager unit at $500 per month, and two additional units are available for lease-up.
From a leasing and income standpoint, the information provided indicates current rents average $2,282 per unit versus market rents near $2,917, reflecting a rent gap attributable to natural tenant turnover. The remarks also note the property is outside California AB 1482 rent control protections, which the seller states provides new ownership flexibility to reset rents at each vacancy.
Key Highlights
- 23‑unit multifamily property built in 1986 on an 18,121 SF lot in the South Glendale submarket
- 14 two‑bedroom/two‑bath and 9 one‑bedroom/one‑bath units totaling 17,804 SF building area; average 774 SF per unit
- 21 of 23 units currently occupied, generating $52,480 in monthly gross rent; close‑of‑escrow 4.68% in‑place cap rate and 1.20x DSCR
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $651.6k | $36.60 |
| − Vacancy | −$42.4k | −$2.38 |
| EGI | $609.3k | $34.22 |
| − OpEx | −$274.2k | −$15.40 |
| NOI | $335.1k | $18.82 |
17,804 SF · lease $36.60/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.79M
$4.19M – $5.58M
NOI $335,099 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.71M
$9.37M – $12.49M
NOI $749,544 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twenty-one of 23 units are currently occupied in a 1986-built multifamily property in Glendale.
Where is this apartment building located?
The property is located at 519 South St Glendale, CA.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: 23‑unit multifamily property built in 1986 on an 18,121 SF lot in the South Glendale submarket; 14 two‑bedroom/two‑bath and 9 one‑bedroom/one‑bath units totaling 17,804 SF building area; average 774 SF per unit; 21 of 23 units currently occupied, generating $52,480 in monthly gross rent; close‑of‑escrow 4.68% in‑place cap rate and 1.20x DSCR
