Remodeled 3-Unit
For Sale
$1,800,000
824 W Glenoaks, Glendale, CA 91202
A vacant apartment at closing offers flexibility alongside two units producing rental income.
Property Size2,685 SF
Lot Size0.14 Acres
Price / SF$670.39
Days on Market27
Property Features for 824 W Glenoaks
General Information
Standard status
Active
Size
2,685 SF
Lot size
0.14 Acres
Property subtype
MULTI_FAMILY
Zoning
GLR4YY
Units
Unit Mix
1 x 3BR, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$76,140
Tenant in Place
Yes
Building Details
Building Size
2,685 SF
Year Built
1942
Year Renovated
2016
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Justin White
Listed By:
Justin White · License #01267826
(714) 231-2537
Source:
Chrispickettrealestate
Added: Oct 1
Changed: Oct 27
Last Checked: Oct 26 at 12:58PM
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 Justin White
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Investment Insights
Based on property information with market context.
This two-story triplex at 824 W Glenoaks contains three apartments: one with three bedrooms and two with one bedroom and one bathroom each. The 2,685-square-foot building dates to 1942 and was remodeled in 2016. One apartment is scheduled to be vacant at closing, while the other two provide rental income. The property also includes a detached four-car garage and a paved parking court on a 6,007-square-foot lot zoned GLR4YY.
The address is along the Glenoaks corridor, near the Alex Theatre, cafes, and neighborhood shops.
The address is along the Glenoaks corridor, near the Alex Theatre, cafes, and neighborhood shops.
Key Highlights
- Three apartments: one 3‑bedroom unit and two 1‑bedroom, 1‑bath units
- 2,685‑square‑foot building on a 6,007‑square‑foot lot
- Remodeled in 2016; originally built in 1942
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,197
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,940
$1.2M
Cap Rate 7%
$831,386
$831.4K
Cap Rate 9%
$646,633
$646.6K
Market Conditions
NOI Build-Up for 2,685 SF
Gross rent
$88.6K $33.00/SF
− Vacancy
−$5.5K −$2.04/SF
EGI
$83.1K $30.96/SF
− OpEx
−$24.9K −$9.29/SF
NOI
$58.2K $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 Rate 5%
$1,163,940
Cap Rate 7%
$831,386
Cap Rate 9%
$646,633
Alternative Uses
Best Use
Multifamily LT 5
$831.4K
$727.5K – $970.0K
NOI $58,197 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$721.9K
$631.7K – $842.3K
NOI $50,536 @ 7.0% cap · market cap 2.81%
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $113,038 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,719
Businesses Nearby
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Business Placement
Demographics for 91202, CA
22,875
Population
9,177
Households
2.5
Avg Household Size
42
Median Age
49%
College-Educated
91%
High-School Grad
4.9 sq mi
ZIP Area
4,668
Density / Sq Mi
$92,343
Median Household Income
$55,266
Median Earnings
$2,185
Median Rent
$1,094,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - A vacant apartment at closing offers flexibility alongside two units producing rental income.
Where is this triplex located?
The property is located at 824 W Glenoaks Glendale, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three apartments: one 3‑bedroom unit and two 1‑bedroom, 1‑bath units; 2,685‑square‑foot building on a 6,007‑square‑foot lot; Remodeled in 2016; originally built in 1942
