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Prime Glendale 8-Unit | First Time on Market! 650 W Wilson Ave 8 Unit Apartment Building $2,399,000 ($299,875/Unit) 5.62% Cap Rate Glendale, CA 91203
Investment Highlights
- Generational asset, first time ever on the market located in the heart of Glendale.
- Upside opportunity with an added ADU in parking area + multiple units due for increases!
- One vacant unit, allowing for immediate upside and flexibility. Several units renovated with new countertops, cabinets, and flooring
- 5.62% current cap rate with a conservative 6.79% pro forma, strong in-place return with clear upside
- 8-unit mix: six 2-bedroom units and two 1-bedroom units, ideal for consistent tenant demand
- 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 $2,399,000. With one vacancy and the possibility of an ADU(s), this is one of the best positioned assets 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 2 minutes (0.5 miles) from The Americana at Brand, opportunities this close to Glendale’s premier retail and lifestyle hub almost never trade. The property consists of six 2-bedroom units and two 1-bedroom units, with one unit currently vacant allowing for immediate upside. The asset is already performing at a 5.62% cap rate with a conservative 6.79% pro forma, both calculated using real operating expenses and including a 4% management fee, giving investors a clear and realistic path to increased returns without relying on aggressive assumptions.
The majority of units have already been upgraded with new or refinished countertops, cabinetry, and flooring, meaning a significant portion of the renovation work is complete, while two remaining units still offer additional upside through light improvements. Electrical panel breakers have also been replaced in all units, helping minimize future capital expenditures.
Tenants benefit from a highly walkable location with direct access to top-tier retail including The Americana, Glendale Galleria, Whole Foods, Trader Joe’s, and Target, which continues to drive strong and consistent rental demand. The property includes six on-site parking spaces, four of which are covered, and maintains its classic 1950s character that continues to resonate with today’s renters.
This is a true legacy Glendale asset combining irreplaceable location, in-place income, and real remaining upside at a basis that is becoming increasingly difficult to find in this prime of a location.
Located on a quiet, tree-lined street just 2 minutes (0.5 miles) from The Americana at Brand, opportunities this close to Glendale’s premier retail and lifestyle hub almost never trade. The property consists of six 2-bedroom units and two 1-bedroom units, with one unit currently vacant allowing for immediate upside. The asset is already performing at a 5.62% cap rate with a conservative 6.79% pro forma, both calculated using real operating expenses and including a 4% management fee, giving investors a clear and realistic path to increased returns without relying on aggressive assumptions.
The majority of units have already been upgraded with new or refinished countertops, cabinetry, and flooring, meaning a significant portion of the renovation work is complete, while two remaining units still offer additional upside through light improvements. Electrical panel breakers have also been replaced in all units, helping minimize future capital expenditures.
Tenants benefit from a highly walkable location with direct access to top-tier retail including The Americana, Glendale Galleria, Whole Foods, Trader Joe’s, and Target, which continues to drive strong and consistent rental demand. The property includes six on-site parking spaces, four of which are covered, and maintains its classic 1950s character that continues to resonate with today’s renters.
This is a true legacy Glendale asset combining irreplaceable location, in-place income, and real remaining upside at a basis that is becoming increasingly difficult to find in this prime of a location.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$219,600
|
$30.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,563
|
$1.05
|
| Effective Gross Income |
$212,037
|
$29.47
|
| Taxes |
$26,029
|
$3.62
|
| Operating Expenses |
$35,361
|
$4.92
|
| Total Expenses |
$61,390
|
$8.53
|
| Net Operating Income |
$150,647
|
$20.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $219,600 |
| Annual Per SF | $30.53 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,563 |
| Annual Per SF | $1.05 |
| Effective Gross Income | |
|---|---|
| Annual | $212,037 |
| Annual Per SF | $29.47 |
| Taxes | |
|---|---|
| Annual | $26,029 |
| Annual Per SF | $3.62 |
| Operating Expenses | |
|---|---|
| Annual | $35,361 |
| Annual Per SF | $4.92 |
| Total Expenses | |
|---|---|
| Annual | $61,390 |
| Annual Per SF | $8.53 |
| Net Operating Income | |
|---|---|
| Annual | $150,647 |
| Annual Per SF | $20.94 |
Property Facts
| Price | $2,399,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.62% | Building Size | 7,194 SF |
| Gross Rent Multiplier | 12.69 | Average Occupancy | 87% |
| 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 | $2,399,000 |
| Price Per Unit | $299,875 |
| Sale Type | Investment |
| Cap Rate | 5.62% |
| Gross Rent Multiplier | 12.69 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,194 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | GLR4* |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,240 | 800 |
| 2+1 | 1 | $1,668 | 800 |
| 2+1 | 1 | $2,325 | 709 |
| 2+1 | 1 | $2,325 | 709 |
| 2+1 | 1 | $2,243 | 709 |
| 2+1 | 1 | $2,054 | 709 |
| 1+1 | 1 | $1,950 | 709 |
| 1+1 | 1 | $1,858 | 709 |
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 | $26,029 ($3.62/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
$26,029 ($3.62/SF)
Tax Year
2025
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Prime Glendale 8-Unit | First Time on Market! | 650 W Wilson Ave
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