Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1109 Melrose Ave Glendale, CA 91202-2429

    • Apartment buildings
    • 7,018 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Jul 27, 2023
    $2,865,000
    Value Estimations
    $2,575,000
    Show details
    Cap Rate Potential
    5.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-6554436
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • LA Best Electric / Electrician
    • Makeup Leoni / Make-Up Artist

    Property Details for 1109 Melrose Ave

    Year built
    1964
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    7,018 SF
    Zone code
    GLR4YY
    Property type
    Apartment buildings
    APN
    5636-010-020
    APU
    5636010020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,390,000
      ML approach
      $2,515,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,200,000
      6.5%
      $2,030,000
      7%
      $1,885,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,765,000
      Market price range: $475k - $2.77M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,800,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $4,270,000
      Change: +137% Conversion: Difficult
      OFFICE BUILDING
      $3,620,000
      Change: +101% Conversion: Moderate
      RETAIL STORES
      $3,615,000
      Change: +101% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,510,000
      Change: +95% Conversion: Difficult
      MEDICAL BUILDING
      $3,190,000
      Change: +77% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,840,000
      Change: +58% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Los Angeles
    State
    California
    Longitude
    -118.26
    Latitude
    34.1619
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $33,060
    $1,175,000
    $1,768,775
    $2,943,775
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $595,000
      4,206 SF

      1240 Viola Ave

      APARTMENT HOUSE (5+ UNITS) • 4,206 SF
      1240 Viola Ave, Glendale, CA 91202-3182
      View Details
    • Value Estimation
      $1,545,000
      8,948 SF

      1137 Melrose Ave

      APARTMENT HOUSE (5+ UNITS) • 8,948 SF
      1137 Melrose Ave, Glendale, CA 91202-2456
      View Details
    • Value Estimation
      $1,390,000
      10,482 SF

      1211 Columbus Ave

      APARTMENT HOUSE (5+ UNITS) • 10,482 SF
      1211 Columbus Ave, Glendale, CA 91202-1694
      View Details
    • Value Estimation
      $3,225,000
      24,393 SF

      1145 Columbus Ave

      APARTMENT HOUSE (5+ UNITS) • 24,393 SF
      1145 Columbus Ave, Glendale, CA 91202
      View Details
    • Value Estimation
      $9,055,000
      79,445 SF

      1136 Columbus Ave

      APARTMENT HOUSE (5+ UNITS) • 79,445 SF
      1136 Columbus Ave, Glendale, CA 91202-2365
      View Details
    • Value Estimation
      $2,345,000
      17,360 SF

      560 Dryden St

      APARTMENT HOUSE (5+ UNITS) • 17,360 SF
      560 Dryden St, Glendale, CA 91202-2868
      View Details

    Similar Nearby for Sale

    • $4,695,000
      9,524 SF

      Glendale Multifamily Building with Upside

      Meticulously maintained 10-unit apartment building in a desirable Glendale location.
      1207 N Columbus Ave, Glendale, CA 91202
      View Details
    • $1,795,000

      Glendale Four-Unit Apartment Building

      Four-unit apartment building in Glendale, offering stable income potential.
      988 W Glenoaks Blvd, Glendale, CA 91202
      View Details
    • $1,850,000
      1,587 SF

      Glendale Medical Office Investment

      Freestanding medical office building with reliable tenant in Glendale, CA.
      5846 San Fernando Rd, Glendale, CA 91202
      View Details
    • $1,100,000

      Glendale Specialty Property For Sale

      Specialty property available for purchase in Glendale, California.
      861 Grant Ave, Glendale, CA 91202
      View Details
    • $210,000

      Established Dry Cleaning Business

      Turnkey dry cleaning business for sale in Glendale.
      1225 N Pacific Ave, Glendale, CA 91202
      View Details
    • $120,000

      Kenneth Village Business Opportunity

      Business opportunity in Glendale's Kenneth Village with high foot traffic.
      1040 West Kenneth Rd, Glendale, CA 91202
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      Charming Glendale Apartment with Patio

      Inviting 2-bedroom apartment in ideal Glendale location.
      1233 N Columbus Ave, Glendale, CA 91202
      View Details
    • $2 SF/Yr
      1,727 SF

      Glendale Office Space For Rent

      Office space featuring two offices, break room, and parking.
      601 E Glenoaks Blvd, Glendale, CA 91202
      View Details
    • $3 SF/Yr
      8,822 SF

      Prime North Brand Blvd Buildings

      Two freestanding commercial buildings with drive-through on Brand Blvd.
      1000-1010 N Brand Blvd, Glendale, CA 91202
      View Details
    • $3 SF/Yr
      858 SF

      Glendale Office Space For Rent

      Office space available with window offices and open area.
      1110 N Brand Blvd, Glendale, CA 91202
      View Details
    • Contact for pricing
      32,256 SF

      Glendale Office Space Available

      32,256 SF office space for lease in Glendale.
      1025 North Brand Blvd, Glendale, CA 91202
      View Details
    • $3 SF/Yr
      7,472 SF

      Freestanding Building on Brand Boulevard

      Commercial building with drive-through and flexible floor plan available for rent.
      1000 N Brand Blvd, Glendale, CA 91202
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1109 Melrose Ave
    Glendale, CA 91202-2429
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.