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Prime Glendale Location w/ 91 Walk Score! 453 Ivy St 18 Unit Apartment Building $10,469,400 CAD ($581,633 CAD/Unit) 4.26% Cap Rate Glendale, CA 91204
INVESTMENT HIGHLIGHTS
- Incredible Glendale location; Walk Score of 91
- All Two-Bedroom Unit Mix: 18 – Two-Bedroom/Two-Bathroom Units
- Current Rents ±31% Under Market
- Walking Distance to The Americana at Brand, Glendale Galleria Mall, and Downtown Glendale
- 1984 Construction; ±20,733 SF Building Size on ±14,959 GLR4 Lot
- Well-Amenitized; Controlled Access Entry, Courtyard Area, Elevator, In-Unit Laundry, Central Air & Heat, and Fireplaces Balconies/Patios
EXECUTIVE SUMMARY
453 Ivy Street is a three-story, 17 plus 1 non-conforming unit multifamily property constructed in 1984 on a ±14,959 square foot lot, with a total building size of ±20,733 square feet. The neatly landscaped, controlled-access property is well maintained, separately metered for gas and electric (non-conforming units are master-metered), serviced by central water heaters, and offers an elevator and partial subterranean parking spaces with storage areas. Two units have individual garages within the parking structure.
453 Ivy Street boasts an excellent unit mix of all two-bedroom/two-bathroom units. The large units are approximately ±1,148 square feet and offer laminate wood and tile flooring, a stove, a refrigerator, a microwave, a dishwasher, central air & heat, in-unit laundry (non-confirming units have shared a laundry room), recessed lighting, a fireplace, ample closet and storage space, and a balcony or patio. Select units have been renovated.
453 Ivy Street boasts an excellent unit mix of all two-bedroom/two-bathroom units. The large units are approximately ±1,148 square feet and offer laminate wood and tile flooring, a stove, a refrigerator, a microwave, a dishwasher, central air & heat, in-unit laundry (non-confirming units have shared a laundry room), recessed lighting, a fireplace, ample closet and storage space, and a balcony or patio. Select units have been renovated.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$746,678
|
$36.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$22,400
|
$1.08
|
| Effective Gross Income |
$724,277
|
$34.93
|
| Taxes |
$116,795
|
$5.63
|
| Operating Expenses |
$161,863
|
$7.81
|
| Total Expenses |
$278,658
|
$13.44
|
| Net Operating Income |
$445,620
|
$21.49
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $746,678 |
| Annual Per SF | $36.01 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $22,400 |
| Annual Per SF | $1.08 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $724,277 |
| Annual Per SF | $34.93 |
| Taxes (CAD) | |
|---|---|
| Annual | $116,795 |
| Annual Per SF | $5.63 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $161,863 |
| Annual Per SF | $7.81 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $278,658 |
| Annual Per SF | $13.44 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $445,620 |
| Annual Per SF | $21.49 |
PROPERTY FACTS
| Price | $10,469,400 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $581,633 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 4.26% | Building Size | 20,733 SF |
| Gross Rent Multiplier | 14.02 | Average Occupancy | 81% |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Zoning | GLR4* - Buyer to Verify Zoning & Density | ||
| Price | $10,469,400 CAD |
| Price Per Unit | $581,633 CAD |
| Sale Type | Investment |
| Cap Rate | 4.26% |
| Gross Rent Multiplier | 14.02 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 20,733 SF |
| Average Occupancy | 81% |
| No. Stories | 3 |
| Year Built | 1984 |
| Parking Ratio | 2/1,000 SF |
| Zoning | GLR4* - Buyer to Verify Zoning & Density |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Tile Floors
- Granite Countertops
- Range
- Patio
SITE AMENITIES
- Controlled Access
- Courtyard
- Gated
- Elevator
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 18 | $3,741 CAD | 1,115 - 1,180 |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 5695-004-094 | Total Assessment | $4,726,909 CAD (2025) |
| Land Assessment | $2,939,424 CAD (2025) | Annual Taxes | $116,795 CAD ($5.63 CAD/SF) |
| Improvements Assessment | $1,787,484 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5695-004-094
Land Assessment
$2,939,424 CAD (2025)
Improvements Assessment
$1,787,484 CAD (2025)
Total Assessment
$4,726,909 CAD (2025)
Annual Taxes
$116,795 CAD ($5.63 CAD/SF)
Tax Year
2024
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Prime Glendale Location w/ 91 Walk Score! | 453 Ivy St
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