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403 Porter St 18 Unit Apartment Building $9,145,500 CAD ($508,083 CAD/Unit) 5.11% Cap Rate Glendale, CA 91205
Investment Highlights
- Exceptional connectivity to major thoroughfares and surrounding business districts.
- Versatile parcel suitable for residential, commercial, or mixed-use development.
- Accessible from public transportation routes, providing enhanced mobility.
- Located in a high-demand area with strong economic and population growth drivers.
- Close proximity to retail, dining, and entertainment amenities.
- Opportunity to capitalize on a robust development market for long-term returns.
Executive Summary
This parcel offers an exceptional development opportunity for those seeking long-term value and adaptability. Positioned in a desirable urban corridor, the property delivers excellent connectivity with major roadways and essential infrastructure, making it ideal for various development uses, including residential, mixed-use, or commercial concepts. Investors will appreciate the potential for zoning flexibility and the strategic location near thriving retail, employment centers, and public transit options. Situated within a growth-focused area, this site benefits from strong surrounding demographics and robust economic activity, providing a stable foundation for future demand. Whether for immediate development or land banking, this parcel represents a rare chance to secure a property with enduring investment upside in a dynamic market environment.
Property Facts
| Price | $9,145,500 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $508,083 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 5.11% | Building Size | 21,254 SF |
| Gross Rent Multiplier | 14.93 | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 1.94/1,000 SF |
| Zoning | GLR4YY - Multiple Dwelling | ||
| Price | $9,145,500 CAD |
| Price Per Unit | $508,083 CAD |
| Sale Type | Investment |
| Cap Rate | 5.11% |
| Gross Rent Multiplier | 14.93 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 21,254 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.94/1,000 SF |
| Zoning | GLR4YY - Multiple Dwelling |
Amenities
Unit Amenities
- Balcony
- Fireplace
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 18 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5680-012-043 | Improvements Assessment | $1,828,799 CAD |
| Land Assessment | $1,110,336 CAD | Total Assessment | $2,939,135 CAD |
Property Taxes
Parcel Number
5680-012-043
Land Assessment
$1,110,336 CAD
Improvements Assessment
$1,828,799 CAD
Total Assessment
$2,939,135 CAD
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403 Porter St
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