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1247 Viola Ave 16 Unit Apartment Building $4,500,000 ($281,250/Unit) 5.29% Cap Rate Glendale, CA 91202
Investment Highlights
- Excellent access to major roadways and transportation networks.
- Located in a thriving growth corridor with strong demand drivers.
- Ample development potential for retail, office, or mixed-use concepts.
- Flexible site suitable for multiple permitted commercial uses.
- Surrounded by established neighborhoods and consumer amenities.
- Positioned to capture long-term market appreciation and value creation.
Executive Summary
A well-positioned asset in a growing market. With its expansive dimensions, the property offers flexibility for a variety of uses, including retail, office, industrial, or mixed-use development, subject to local zoning regulations. The site benefits from easy access to major transportation routes and proximity to a well-established commercial and residential base, supporting both consumer traffic and workforce availability. Its surrounding area continues to attract new businesses and residents, ensuring strong long-term demand. The parcel’s layout accommodates efficient site planning and potential for ample parking or green space. Whether for immediate development or future land banking, this property provides a versatile investment in a vibrant corridor that aligns with evolving market demands. Secure your position in this highly active region with a parcel designed for stability and growth.
Property Facts
| Price | $4,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $281,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 5.29% | Building Size | 11,444 SF |
| Gross Rent Multiplier | 12.82 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Zoning | GLR4YY - Multiple Dwelling | ||
| Price | $4,500,000 |
| Price Per Unit | $281,250 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Gross Rent Multiplier | 12.82 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 11,444 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | GLR4YY - Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 560 |
| 2+1 | 8 | - | 710 |
| 2+2 | 2 | - | 940 |
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Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5633-006-011 | Improvements Assessment | $1,576,217 |
| Land Assessment | $1,444,863 | Total Assessment | $3,021,080 |
Property Taxes
Parcel Number
5633-006-011
Land Assessment
$1,444,863
Improvements Assessment
$1,576,217
Total Assessment
$3,021,080
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1247 Viola Ave