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300 E Garfield Ave 8 Unit Apartment Building $2,395,000 ($299,375/Unit) 4.50% Cap Rate Glendale, CA 91205
Investment Highlights
- Huge upside potential to increase rents
- New Roof / Copper Plumbing
- Next rent increase 06/01/2026
Executive Summary
Exceptional investment opportunity in the heart of Glendale! This well-maintained 8-unit multifamily property offers an impressive unit mix consisting of one 3-bedroom/2-bath unit with a private 1-car garage, one 2-bedroom/1-bath unit, five 1-bedroom/1-bath units, and one studio unit with an attached garage. The property has had no vacancies for many years, reflecting its strong rental stability and desirable location. Recent capital improvements include a brand-new roof, new gutters, and copper plumbing throughout—minimizing maintenance needs and maximizing long-term value. Five tenants currently participate in the Section 8 program, providing consistent income and excellent tenant retention. Next rent increases take effect on June 1, 2026, presenting an immediate upside for investors. With very low operating expenses and a solid rental history, this property is a turn-key addition to any multifamily portfolio. Conveniently located near shops, restaurants, and major freeways, 300 E Garfield Ave offers lasting appeal in one of Glendale’s most in-demand rental markets
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$160,860
|
$25.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$160,860
|
$25.43
|
| Taxes |
$29,938
|
$4.73
|
| Operating Expenses |
$22,614
|
$3.57
|
| Total Expenses |
$52,552
|
$8.31
|
| Net Operating Income |
$108,308
|
$17.12
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $160,860 |
| Annual Per SF | $25.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $160,860 |
| Annual Per SF | $25.43 |
| Taxes | |
|---|---|
| Annual | $29,938 |
| Annual Per SF | $4.73 |
| Operating Expenses | |
|---|---|
| Annual | $22,614 |
| Annual Per SF | $3.57 |
| Total Expenses | |
|---|---|
| Annual | $52,552 |
| Annual Per SF | $8.31 |
| Net Operating Income | |
|---|---|
| Annual | $108,308 |
| Annual Per SF | $17.12 |
Property Facts
| Price | $2,395,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.50% | Building Size | 6,326 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.88 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1965 |
| Property Type | Multifamily | Parking Ratio | 1.42/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4 | ||
| Price | $2,395,000 |
| Price Per Unit | $299,375 |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14.88 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 6,326 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.42/1,000 SF |
| Zoning | R4 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $2,700 | - |
| Studios | 1 | $1,100 | - |
| 1+1 | 5 | $1,560 | - |
| 2+1 | 1 | $1,900 | - |
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Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5641-016-005 | Total Assessment | $1,765,232 |
| Land Assessment | $784,547 | Annual Taxes | $29,938 ($4.73/SF) |
| Improvements Assessment | $980,685 | Tax Year | 2025 |
Property Taxes
Parcel Number
5641-016-005
Land Assessment
$784,547
Improvements Assessment
$980,685
Total Assessment
$1,765,232
Annual Taxes
$29,938 ($4.73/SF)
Tax Year
2025
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Silver Spoon Properties & Lending
300 E Garfield Ave
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