Log In/Sign Up
Your email has been sent.
519 South St 23 Unit Apartment Building $11,796,209 CAD ($512,879 CAD/Unit) 4.68% Cap Rate Glendale, CA 91202
Investment Highlights
- Positioned in South Glendale, a supply-constrained, high-barrier submarket within Los Angeles County
- Separately metered utilities (electric and gas) minimize owner expenses
- Average Unit Size: ±774 SF
- Convenient freeway access to I-5, SR-134, and proximity to prominent job centers in Glendale and Burbank12
- No rent control: Property is exempt from California AB 1482, allowing full flexibility to reset rents at turnover
Executive Summary
519 South St is a 23-unit multifamily investment offered at $8,300,000 ($360,870/unit | $466.19/SF) in the South Glendale submarket — one of the San Fernando Valley's most supply-constrained and high-barrier rental markets. Built in 1986 on an 18,121 SF lot, the property features a balanced mix of 14 two-bedroom/two-bath and 9 one-bedroom/one-bath residences, each averaging 774 SF across 17,804 SF of building area.With 21 of 23 units currently occupied and generating $52,480 in monthly gross rent, the asset delivers immediate cash flow from close of escrow at a 4.68% in-place cap rate and a 1.20x debt service coverage ratio. Current rents average $2,282 per unit against market rents near $2,917 — a 28% discount that represents approximately $175,000 in annual rental upside achievable entirely through natural tenant turnover, with no capital improvement program required.The property sits outside California AB 1482 rent control protections, giving new ownership full flexibility to reset rents at each vacancy. Unit 205 — currently operating as a manager unit at $500/month — represents $2,750 in immediate monthly upside alone. Two additional units are immediately available for lease-up at market rents. At full market rents, NOI grows from $388,832 to $548,482, delivering a 6.61% pro forma cap rate and a GRM of 10.31. The property's separately metered electric and gas shift utility costs to residents, keeping pro forma expenses at just 28.30% of EGI — well below typical multifamily benchmarks.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $11,796,209 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $512,879 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 4.68% | Building Size | 17,804 SF |
| Gross Rent Multiplier | 13.18 | Average Occupancy | 100% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Parking Ratio | 1.46/1,000 SF |
| Zoning | R4, Glendale - Restricted Density Multiple Dwelling | ||
| Price | $11,796,209 CAD |
| Price Per Unit | $512,879 CAD |
| Sale Type | Investment |
| Cap Rate | 4.68% |
| Gross Rent Multiplier | 13.18 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 17,804 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.46/1,000 SF |
| Zoning | R4, Glendale - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Tub/Shower
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $2,838 CAD | 650 |
| 2+2 | 14 | $3,503 CAD | 850 |
1 1
Very walkable
80/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5634-026-042 | Improvements Assessment | $2,745,352 CAD |
| Land Assessment | $954,893 CAD | Total Assessment | $3,700,245 CAD |
Property Taxes
Parcel Number
5634-026-042
Land Assessment
$954,893 CAD
Improvements Assessment
$2,745,352 CAD
Total Assessment
$3,700,245 CAD
1 of 42
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
519 South St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.