8-Unit Apartment
For Sale
$2,590,000
Pending
616 E Lomita, Glendale, CA 91205
Eight residences feature updated interiors, gated parking, and shared laundry facilities.
Property Size6,078 SF
Days on Market288
Property Features for 616 E Lomita
General Information
Standard status
Pending
Size
6,078 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
8
Amenities
on-site community laundry
Building Details
Year Built
1931
Listing Agency:
Sarian Realty
Listed By:
Henrik Khodjasarian sarianrealty@att.net
Source:
Findhomesinsandiegoarea
Added: Jan 2
Changed: Oct 11
Last Checked: Oct 16 at 9:08AM
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 Sarian Realty
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Investment Insights
Based on property information with market context.
Built in 1931, the property comprises an apartment building and four accessory dwelling units, with eight residences in total. The 6,078-square-foot property offers 12 bedrooms and 8 bathrooms. Interior finishes include vinyl plank flooring, quartz countertops, and stainless-steel sinks. Gated parking accommodates up to 10 vehicles, and community laundry is available on site.
The property is located in Glendale, a few blocks from The Americana at Brand and the Glendale Galleria. The 134, 5, and 2 freeways are accessible from the area. Its Walk Score is 92.
The property is located in Glendale, a few blocks from The Americana at Brand and the Glendale Galleria. The 134, 5, and 2 freeways are accessible from the area. Its Walk Score is 92.
Key Highlights
- Eight residences: one four‑unit apartment building and four ADUs
- 6,078 square feet with 12 bedrooms and 8 bathrooms
- Built in 1931
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,397
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,287,940
$2.3M
Cap Rate 7%
$1,634,243
$1.6M
Cap Rate 9%
$1,271,078
$1.3M
Market Conditions
NOI Build-Up for 6,078 SF
Gross rent
$222.5K $36.60/SF
− Vacancy
−$14.5K −$2.38/SF
EGI
$208.0K $34.22/SF
− OpEx
−$93.6K −$15.40/SF
NOI
$114.4K $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 Rate 5%
$2,287,940
Cap Rate 7%
$1,634,243
Cap Rate 9%
$1,271,078
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.91M
NOI $114,397 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.66M
$3.20M – $4.26M
NOI $255,882 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,379
Businesses Nearby
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Business Placement
Demographics for 91205, CA
36,693
Population
14,424
Households
2.5
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
1.9 sq mi
ZIP Area
19,312
Density / Sq Mi
$59,005
Median Household Income
$42,393
Median Earnings
$1,890
Median Rent
$763,100
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
Frequently Asked Questions
What type of property is this?
Apartment building - Eight residences feature updated interiors, gated parking, and shared laundry facilities.
Where is this apartment building located?
The property is located at 616 E Lomita Glendale, CA.
What is the asking price?
The asking price for this property is $2,590,000.
What are key features of this property?
This property features: Eight residences: one four‑unit apartment building and four ADUs; 6,078 square feet with 12 bedrooms and 8 bathrooms; Built in 1931
