10-Unit Apartment Building with
New
For Sale
$2,925,000
935 N Louise ST, Glendale, CA 91207
All residences offer a two-bedroom, one-bath layout with on-site laundry and covered parking.
Property Size7,701 SF
Price / SF$379.82
Days on Market6
Property Features for 935 N Louise ST
General Information
Standard status
Active
Size
7,701 SF
Total Parking Spaces
10
Property subtype
MULTI_FAMILY
Units
Unit Mix
10 x 2BR/1BA
Multifamily Units
10
Amenities
overhead storage
on-site laundry
Building Details
Building Size
7,701 SF
Year Built
1955
Listing Agency:
Jenkins Properties
Listed By:
Jose Maria Chaparro · License #02023861
(323) 373-6526
Source:
Carolinakramer
Added: Sep 15
Changed: Sep 19
Last Checked: Sep 19 at 2:15PM
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 Jenkins Properties
Investment Insights
Based on property information with market context.
This 7,701-square-foot apartment property, built in 1955, contains 10 residences with a consistent two-bedroom, one-bath configuration. Three apartments are vacant, while seven remain occupied. Property improvements include updated electrical panels and wiring, copper plumbing, replacement main water lines, and new asphalt. On-site amenities include 10 carport spaces with overhead storage and laundry facilities.
Located at 935 N Louise Street in Glendale, the property provides access to local shopping, dining, employment centers, transportation, and surrounding Los Angeles communities. The uniform unit mix, existing occupancy, and available apartments create a straightforward physical layout for continued multifamily operations and unit improvements.
Located at 935 N Louise Street in Glendale, the property provides access to local shopping, dining, employment centers, transportation, and surrounding Los Angeles communities. The uniform unit mix, existing occupancy, and available apartments create a straightforward physical layout for continued multifamily operations and unit improvements.
Key Highlights
- 10‑unit apartment building with 7,701 SF of building area
- Ten 2‑bedroom/1‑bath residences
- 3 vacant units and 7 occupied units
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
$144,945
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
4.96%
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%
$2,898,900
$2.9M
Cap Rate 7%
$2,070,643
$2.1M
Cap Rate 9%
$1,610,500
$1.6M
Market Conditions
NOI Build-Up for 7,701 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
$281.9K $36.60/SF
− Vacancy
−$18.3K −$2.38/SF
EGI
$263.5K $34.22/SF
− OpEx
−$118.6K −$15.40/SF
NOI
$144.9K $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%
$2,898,900
Cap Rate 7%
$2,070,643
Cap Rate 9%
$1,610,500
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $144,945 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.63M
$4.05M – $5.40M
NOI $324,210 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
5,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 91207, CA
10,369
Population
4,272
Households
2.4
Avg Household Size
47
Median Age
51%
College-Educated
95%
High-School Grad
1.6 sq mi
ZIP Area
6,481
Density / Sq Mi
$108,196
Median Household Income
$71,515
Median Earnings
$2,192
Median Rent
$1,246,300
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
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Frequently Asked Questions
What type of property is this?
Apartment building - All residences offer a two-bedroom, one-bath layout with on-site laundry and covered parking.
Where is this apartment building located?
The property is located at 935 N Louise ST Glendale, CA.
What is the asking price?
The asking price for this property is $2,925,000.
What are key features of this property?
This property features: 10‑unit apartment building with 7,701 SF of building area; Ten 2‑bedroom/1‑bath residences; 3 vacant units and 7 occupied units
