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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
- Generational asset, first time ever on the market located in the heart of Glendale.
- Massive value-add opportunity! Both 1Bed/1Bath units in the rear building will be delivered vacant.
- One vacant unit, allowing for immediate upside and flexibility. Several units renovated with new countertops, cabinets, and flooring
- 5.80% current cap rate with a conservative 6.92% pro forma, offering strong in place returns with clear upside!
- ADU bid already in hand to convert both vacant units and add an additional unit!
- Located just 2 minutes (0.5 miles) from the Americana at Brand and Glendale Galleria. Minutes from Target, Whole Foods Market, Trader Joe's, & Costco
Executive Summary
The 5+ Unit Specialists are pleased to present 650 W Wilson, an extremely rare 8-unit generational asset, first time on the market, ideally located in the heart of Glendale just steps from The Americana at Brand, offered at $2,299,000. Featuring two units delivered vacant in a separate rear structure and an ADU bid already in hand, this is one of the best positioned value-add opportunities in the entire submarket, delivering a stronger GRM and higher cap rate than nearly every competing Glendale listing.
Located on a quiet, tree-lined street just 0.5 miles from The Americana at Brand, the property consists of six 2-bedroom units and two 1-bedroom units, both of which will be delivered vacant at closing, allowing a new owner to immediately capture rental upside. The asset is already performing at a 5.80% cap rate with a conservative 6.92% pro forma, both calculated using real operating expenses and including a 5% management fee.
Adding to the opportunity, a contractor bid is already in hand to convert the two vacant rear units into a large 3 bed unit and construct an additional 3 bed unit ADU
in the existing parking area, creating the potential for a 9th unit and additional rental income. With both rear units delivered vacant, a buyer can begin the conversion immediately after closing without the delays and costs associated with tenant relocation.
The majority of units have already been upgraded with new or refinished countertops, cabinetry, and flooring, and electrical panel breakers have been replaced throughout, helping minimize future capital expenditures. Tenants enjoy a highly walkable location near The Americana, Glendale Galleria, Whole Foods, Trader Joe's, and Target, supporting strong and consistent rental demand.
This is a true legacy Glendale asset combining irreplaceable location, in-place income, and immediate value-add potential at a basis that is becoming increasingly difficult to find.
Located on a quiet, tree-lined street just 0.5 miles from The Americana at Brand, the property consists of six 2-bedroom units and two 1-bedroom units, both of which will be delivered vacant at closing, allowing a new owner to immediately capture rental upside. The asset is already performing at a 5.80% cap rate with a conservative 6.92% pro forma, both calculated using real operating expenses and including a 5% management fee.
Adding to the opportunity, a contractor bid is already in hand to convert the two vacant rear units into a large 3 bed unit and construct an additional 3 bed unit ADU
in the existing parking area, creating the potential for a 9th unit and additional rental income. With both rear units delivered vacant, a buyer can begin the conversion immediately after closing without the delays and costs associated with tenant relocation.
The majority of units have already been upgraded with new or refinished countertops, cabinetry, and flooring, and electrical panel breakers have been replaced throughout, helping minimize future capital expenditures. Tenants enjoy a highly walkable location near The Americana, Glendale Galleria, Whole Foods, Trader Joe's, and Target, supporting strong and consistent rental demand.
This is a true legacy Glendale asset combining irreplaceable location, in-place income, and immediate value-add potential at a basis that is becoming increasingly difficult to find.
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 | 7,194 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 | 0.83/1,000 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 | 7,194 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 0.83/1,000 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 | $1,850 | 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 ($3.47/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 ($3.47/SF)
Tax Year
2025
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Prime Glendale 8-Unit | ADU BID IN HAND! | 650 W Wilson Ave
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