Apartment Building With Covered
For Sale
$3,999,000
729 Raleigh St, Glendale, CA 91205
Residential Income, Glendale, CA
Property Size11,424 SF
Lot Size0.25 Acres
Price / SF$350.05
Days on Market173
Property Features for 729 Raleigh St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GLR4YY
Bedrooms
22
Bathrooms
22
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 15, Bathroom 9, Bathroom 20, Bedroom 10, Bedroom 6, Bathroom 15, Bedroom 17, Bedroom 7, Bathroom 11, Bedroom 3, Bedroom 18, Bathroom 17, Bathroom 5, Bathroom 21, Bedroom 16, Bedroom 19, Bedroom 13, Bedroom 1, Bathroom 22, Bathroom 13, Bedroom 2, Bathroom 1, Bathroom 10, Bathroom 6, Bedroom 5, Bedroom 14, Bathroom 2, Bathroom 14, Bathroom 16, Bedroom 11, Bathroom 7, Bedroom 20, Bathroom 18, Bathroom 12, Bedroom 9, Bedroom 8, Bedroom 4, Bathroom 3, Bedroom 22, Bathroom 8, Bathroom 19, Bedroom 21, Bedroom 12
Parking
12
Parking features
Covered
Directions
South Of E Maple St & East Of Granada St
Subdivision
Glendale-South of 134 Fwy
Standard status
Active
APN
5675-013-018
Size
11,424 SF
Lot size
0.25 Acres
Utilities
Cooling system
Wall/Window Unit(s)
Amenities
on-site parking with storage
on-site laundry facilities
Building Details
Year built
1964
Floors in Building
2
Number of units
13
Listing Agency:
Keller Williams Studio City · Keller Williams Realty
(818) 432-1500
Listed By:
Michael Pesci · License #01274379
(213) 820-1335
Added: Mar 31
Changed: Sep 17
Last Checked: Sep 19 at 9:06PM
MLS# 26671833
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
729 Raleigh St is a 13-unit apartment building in Glendale, California, comprising 11,424 square feet on a 0.2474-acre lot. The unit mix includes two one-bedroom, one-bath apartments; one two-bedroom, one-bath apartment; and ten two-bedroom, two-bath apartments. One unit is identified as non-conforming. Built in 1964, the property includes covered parking, storage, on-site laundry, and wall/window cooling units. Gas and electric service is individually metered.
The property is near Glendale Galleria and The Americana at Brand, with access to the Glendale Transportation Center. State Route 134, State Route 2, and Interstate 5 provide connections to Burbank, Pasadena, Downtown Los Angeles, and the San Fernando Valley. The property is zoned GLR4YY and located in Los Angeles County.
The property is near Glendale Galleria and The Americana at Brand, with access to the Glendale Transportation Center. State Route 134, State Route 2, and Interstate 5 provide connections to Burbank, Pasadena, Downtown Los Angeles, and the San Fernando Valley. The property is zoned GLR4YY and located in Los Angeles County.
Key Highlights
- 13 total units, including 1 non‑conforming unit
- Unit mix includes 2 one‑bedroom/one‑bath, 1 two‑bedroom/one‑bath, and 10 two‑bedroom/two‑bath units
- 11,424 square feet on 0.2474 acres
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
$215,017
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%
$4,300,340
$4.3M
Cap Rate 7%
$3,071,671
$3.1M
Cap Rate 9%
$2,389,078
$2.4M
Market Conditions
NOI Build-Up for 11,424 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
$418.1K $36.60/SF
− Vacancy
−$27.2K −$2.38/SF
EGI
$390.9K $34.22/SF
− OpEx
−$175.9K −$15.40/SF
NOI
$215.0K $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%
$4,300,340
Cap Rate 7%
$3,071,671
Cap Rate 9%
$2,389,078
Alternative Uses
Best Use
Apartment 5plus
$3.07M
$2.69M – $3.58M
NOI $215,017 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.87M
$6.01M – $8.02M
NOI $480,948 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
13
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,469
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Thirteen-unit Glendale property with covered parking, on-site laundry, and individually metered gas and electric.
Where is this apartment building located?
The property is located at 729 Raleigh St Glendale, CA.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: 13 total units, including 1 non‑conforming unit; Unit mix includes 2 one‑bedroom/one‑bath, 1 two‑bedroom/one‑bath, and 10 two‑bedroom/two‑bath units; 11,424 square feet on 0.2474 acres
