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Prime Glendale 8-Unit | ADU BID IN HAND! 650 W Wilson Ave 8 Unit Apartment Building $2,299,000 ($287,375/Unit) 5.80% Cap Rate Glendale, CA 91203
Investment Highlights
- Immediate development opportunity with 2 vacant rear units delivered at closing, allowing construction to begin immediately with no tenant relocation!
- Potential to increase the property from 8 units to 9 units while substantially increasing rental income.
- Project management assistance available through our team using the contractor who prepared the preliminary construction budget
- Contractor bid, conceptual plans, and renovation budgets already completed for a 3 Bed / 3 Bath conversion and an additional 3 Bed / 3 Bath ADU.
- Multiple execution strategies: 1. Build the new ADU only. 2. Convert the two 1- bed units into one luxury 3 B/ 3 B residence. 3. Complete both!
- Located just 0.5 miles from The Americana at Brand and Glendale Galleria, surrounded by premier shopping, dining, and major employment centers.
Executive Summary
The 5+ Unit Specialists are pleased to present 650 W Wilson Ave, an exceptionally rare 8-unit generational asset, offered for the first time ever in one of Glendale's most desirable rental pockets just steps from The Americana at Brand.?
What truly separates this opportunity is its immediate development potential.? Both rear 1- bedroom units, that make up the back structure, will be delivered vacant, allowing a buyer to begin construction immediately after closing without the cost, delays, or uncertainty of tenant relocation.? A contractor bid has already been completed to combine the two vacant units into a spacious 3 Bed / 3 Bath residence while adding an additional 3 Bed / 3 Bath ADU in the existing parking area.? Buyers have the flexibility to either create two large 3 Bed / 3 Bath units or simply keep the existing 1-bedroom units and add a 9th unit, allowing them to tailor the project to their investment strategy while significantly increasing rental income.?
Unlike most value-add opportunities that require years of turnover, this project can begin on day one.? Buyers also have the flexibility to complete only the ADU, only the conversion, or both projects depending on their investment strategy.? Our team can also assist with project management using the same contractor who prepared the bid, creating a streamlined path from acquisition to completion.?
Beyond the development upside, the property offers strong in-place cash flow with a 5.80% current cap rate and a 7.26% pro forma, both calculated using real operating expenses and a 4% management fee.? The six existing 2-bedroom units have seen numerous interior upgrades including cabinetry, countertops, flooring, and updated electrical panel breakers, minimizing future capital expenditures while providing additional rental upside.?
Combining an irreplaceable Glendale location, immediate income, and one of the easiest value-add opportunities currently available, 650 W Wilson represents a rare chance to acquire a true legacy asset with multiple paths to increasing long-term value.?
What truly separates this opportunity is its immediate development potential.? Both rear 1- bedroom units, that make up the back structure, will be delivered vacant, allowing a buyer to begin construction immediately after closing without the cost, delays, or uncertainty of tenant relocation.? A contractor bid has already been completed to combine the two vacant units into a spacious 3 Bed / 3 Bath residence while adding an additional 3 Bed / 3 Bath ADU in the existing parking area.? Buyers have the flexibility to either create two large 3 Bed / 3 Bath units or simply keep the existing 1-bedroom units and add a 9th unit, allowing them to tailor the project to their investment strategy while significantly increasing rental income.?
Unlike most value-add opportunities that require years of turnover, this project can begin on day one.? Buyers also have the flexibility to complete only the ADU, only the conversion, or both projects depending on their investment strategy.? Our team can also assist with project management using the same contractor who prepared the bid, creating a streamlined path from acquisition to completion.?
Beyond the development upside, the property offers strong in-place cash flow with a 5.80% current cap rate and a 7.26% pro forma, both calculated using real operating expenses and a 4% management fee.? The six existing 2-bedroom units have seen numerous interior upgrades including cabinetry, countertops, flooring, and updated electrical panel breakers, minimizing future capital expenditures while providing additional rental upside.?
Combining an irreplaceable Glendale location, immediate income, and one of the easiest value-add opportunities currently available, 650 W Wilson represents a rare chance to acquire a true legacy asset with multiple paths to increasing long-term value.?
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$188,292
|
$26.17
|
| Other Income |
$14,605
|
$2.03
|
| Vacancy Loss |
$7,532
|
$1.05
|
| Effective Gross Income |
$195,365
|
$27.16
|
| Taxes |
$24,944
|
$3.47
|
| Operating Expenses |
$37,138
|
$5.16
|
| Total Expenses |
$62,082
|
$8.63
|
| Net Operating Income |
$133,283
|
$18.53
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $188,292 |
| Annual Per SF | $26.17 |
| Other Income | |
|---|---|
| Annual | $14,605 |
| Annual Per SF | $2.03 |
| Vacancy Loss | |
|---|---|
| Annual | $7,532 |
| Annual Per SF | $1.05 |
| Effective Gross Income | |
|---|---|
| Annual | $195,365 |
| Annual Per SF | $27.16 |
| Taxes | |
|---|---|
| Annual | $24,944 |
| Annual Per SF | $3.47 |
| Operating Expenses | |
|---|---|
| Annual | $37,138 |
| Annual Per SF | $5.16 |
| Total Expenses | |
|---|---|
| Annual | $62,082 |
| Annual Per SF | $8.63 |
| Net Operating Income | |
|---|---|
| Annual | $133,283 |
| Annual Per SF | $18.53 |
Property Facts
| Price | $2,299,000 | Apartment Style | Low-Rise |
| Price Per Unit | $287,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.80% | Building Size | 5,852 SF |
| Gross Rent Multiplier | 12.21 | Average Occupancy | 75% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Zoning | GLR4* | ||
| Price | $2,299,000 |
| Price Per Unit | $287,375 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Gross Rent Multiplier | 12.21 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,852 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | GLR4* |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $2,034 | 774 - 849 |
| 1+1 | 2 | $1,750 | 480 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5638-003-053 | Total Assessment | $411,979 |
| Land Assessment | $184,969 | Annual Taxes | $24,944 ($4.26/SF) |
| Improvements Assessment | $227,010 | Tax Year | 2025 |
Property Taxes
Parcel Number
5638-003-053
Land Assessment
$184,969
Improvements Assessment
$227,010
Total Assessment
$411,979
Annual Taxes
$24,944 ($4.26/SF)
Tax Year
2025
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Prime Glendale 8-Unit | ADU BID IN HAND! | 650 W Wilson Ave