8-Unit Apartment
For Sale
Contact for pricing
650 W Wilson Ave, Glendale, CA 91203
The property offers a mix of one- and two-bedroom residences in a walkable Glendale setting.
Property Size5,852 SF
Price / SF$409.95
Days on Market121
Property Features for 650 W Wilson Ave
General Information
Standard status
Active
Size
5,852 SF
Class
A
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
GLR4*
Occupancy
87%
Investment Type
Stabilized
Net Operating Income
$134,725
Financials
Asking Price
$2,399,000
Cap Rate
5.62%
Units
Unit Mix
6 x 2BR, 2 x 1BR
Multifamily Units
8
Building Details
Year Built
1956
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
Myunits.com
(805) 973-7470
Listed By:
Lauren Cearley · License #02146823
Source:
Crexi
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 8:25PM
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 Myunits.com
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 5,852 square feet and was built in 1956. The unit mix includes six two-bedroom residences and two one-bedroom residences, with one unit vacant. Most apartments feature updated or refinished countertops, cabinetry, and flooring, while two units remain suited to light improvements. Electrical panel breakers have been replaced throughout the property. The asset is zoned GLR4* and includes six on-site parking spaces, four of them covered.
Located at 650 W Wilson Ave in Glendale, the property is approximately 0.5 miles and two minutes from The Americana at Brand. Additional nearby retail includes Glendale Galleria, Whole Foods, Trader Joe’s, and Target. Current operations reflect a 5.62% cap rate, with a 6.79% pro forma based on real operating expenses and a 4% management fee.
Located at 650 W Wilson Ave in Glendale, the property is approximately 0.5 miles and two minutes from The Americana at Brand. Additional nearby retail includes Glendale Galleria, Whole Foods, Trader Joe’s, and Target. Current operations reflect a 5.62% cap rate, with a 6.79% pro forma based on real operating expenses and a 4% management fee.
Key Highlights
- 8‑unit apartment property totaling 5,852 square feet
- Unit mix includes six 2‑bedroom and two 1‑bedroom residences
- One unit is currently vacant
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
$110,144
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
4.59%
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%
$2,202,880
$2.2M
Cap Rate 7%
$1,573,486
$1.6M
Cap Rate 9%
$1,223,822
$1.2M
Market Conditions
NOI Build-Up for 5,852 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
$214.2K $36.60/SF
− Vacancy
−$13.9K −$2.38/SF
EGI
$200.3K $34.22/SF
− OpEx
−$90.1K −$15.40/SF
NOI
$110.1K $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%
$2,202,880
Cap Rate 7%
$1,573,486
Cap Rate 9%
$1,223,822
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.84M
NOI $110,144 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.52M
$3.08M – $4.11M
NOI $246,368 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,730
Businesses Nearby
Explore this area
Business Placement
Demographics for 91203, CA
16,930
Population
7,503
Households
2.3
Avg Household Size
37
Median Age
46%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
18,811
Density / Sq Mi
$77,925
Median Household Income
$48,953
Median Earnings
$2,348
Median Rent
$661,300
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?
Apartment building - The property offers a mix of one- and two-bedroom residences in a walkable Glendale setting.
Where is this apartment building located?
The property is located at 650 W Wilson Ave Glendale, CA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling 5,852 square feet; Unit mix includes six 2‑bedroom and two 1‑bedroom residences; One unit is currently vacant
