Remodeled Triplex with Detached
For Sale
$1,150,000
Pending
652 W California, Glendale, CA 91203
Fully occupied multifamily property with varied unit layouts, interior laundry hookups, and parking improvements.
Property Size1,960 SF
Lot Size0.20 Acres
Days on Market13
Property Features for 652 W California
General Information
Standard status
Pending
Size
1,960 SF
Lot size
0.20 Acres
Property subtype
Investment
Zoning
R4
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
laundry hookups
garage
Building Details
Building Size
1,960 SF
Year Built
1924
Stories
1
Units
3
Listing Agency:
Nohco Real Estate
(213) 804-7647
Listed By:
Brian Noh · License #01438155
(213) 804-7647
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 26 at 12:49PM
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 Nohco Real Estate
Investment Insights
Based on property information with market context.
This 1924 triplex contains 1,960 SF across two two-bedroom, one-bath residences and one one-bedroom, one-bath residence. The smaller unit is identified as having the ability to be converted to a second bedroom. All three units are occupied, and two have undergone remodeling. Each residence includes a spacious layout and laundry hookups inside.
The property occupies an 8,858 SF R4 lot in Glendale, with ample parking and a detached three-car garage. The garage is described as having potential for ADU conversion. The surrounding area provides access to the Galleria, the Americana, local restaurants and shops, and the 5/134 freeways. Walk Score is 85, Bike Score is 61, and Transit Score is 44.
The property occupies an 8,858 SF R4 lot in Glendale, with ample parking and a detached three-car garage. The garage is described as having potential for ADU conversion. The surrounding area provides access to the Galleria, the Americana, local restaurants and shops, and the 5/134 freeways. Walk Score is 85, Bike Score is 61, and Transit Score is 44.
Key Highlights
- Three‑unit property with 2 two‑bedroom units and 1 one‑bedroom unit
- 1,960 SF triplex on an 8,858 SF R4 lot
- Fully occupied; 2 of 3 units have been remodeled
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
$42,482
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
3.69%
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%
$849,640
$849.6K
Cap Rate 7%
$606,886
$606.9K
Cap Rate 9%
$472,022
$472.0K
Market Conditions
NOI Build-Up for 1,960 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
$64.7K $33.00/SF
− Vacancy
−$4.0K −$2.04/SF
EGI
$60.7K $30.96/SF
− OpEx
−$18.2K −$9.29/SF
NOI
$42.5K $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%
$849,640
Cap Rate 7%
$606,886
Cap Rate 9%
$472,022
Alternative Uses
Best Use
Multifamily LT 5
$606.9K
$531.0K – $708.0K
NOI $42,482 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$527.0K
$461.1K – $614.8K
NOI $36,890 @ 7.0% cap · market cap 3.21%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,516 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,768
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?
Triplex - Fully occupied multifamily property with varied unit layouts, interior laundry hookups, and parking improvements.
Where is this triplex located?
The property is located at 652 W California Glendale, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three‑unit property with 2 two‑bedroom units and 1 one‑bedroom unit; 1,960 SF triplex on an 8,858 SF R4 lot; Fully occupied; 2 of 3 units have been remodeled
