650 W Wilson · Glendale, CA 91203

$2,299,000

12 bd · 6.0 ba · 4,892 sqft · MultiFamily public records · 35 Days on market

Built 1956 8,764 sqft lot $470/sqft · 23% above area Est $2238k · at est.

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• ARV discount +6.3/15.0
• Appreciation +5.5/10.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

650 W Wilson is 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 two vacancies 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, which will both be delivered 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 5% 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.

Key facts

• Adu
• Upgraded countertops
• Upgraded flooring

Tags

• ADU
• TREE-LINED STREET
• UPGRADED COUNTERTOPS
• UPGRADED CABINETRY
• UPGRADED FLOORING
• HIGHLY WALKABLE LOCATION

What this means for you Summary

Snapshot

• This is a 8 × 14-bed/8.0-bath units multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $8k ($97k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($27k rent vs $2.30M).
• Recommended offer: $2.23M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 1.9% in Glendale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#201 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, schools B+; Watch: health & safety C-, cost of living F.
• Glendale Unified (urban): math 53% / reading 66% proficiency, ranked #81 of 517 in CA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.7%/yr); 29 active listings in the ZIP; solid renter incomes; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $27,280/mo this rent would consume 397% of the median local household income ($82k/yr) (locally 2080% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $39k of equity ($16k loan paydown + $23k appreciation (1.0% local appreciation)).
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.0% appreciation + 0.0% rent growth), your $644k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$142k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($2.23M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,230,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.10%
• DSCR: 1.67
• GRM: 7.0

CMA / ARV

• ARV (median comp): $2,238,446
• List price: $2,299,000
• Delta: 2.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.01% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.74×
• Total profit: $479,385
• Equity at exit: $786,482

10-year hold

• IRR: 16.6%
• Equity multiple: 2.87×
• Total profit: $1,201,967
• Equity at exit: $1,046,436

Cash invested: $643,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 91203

• Home prices YoY: 0.2%
• Rents YoY: -1.7%
• Active inventory: 29
• Price-to-rent: 56.2×

Monthly cashflow live

• Estimated rent: $27,280 medium
• Mortgage (P&I): −$12,056
• Tax from tax record: −$437 /mo · $5,247/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,729
• Net cashflow: $8,100

Break-even live

Break-even rent $17,027

Max offer price $2,299,000

Occupancy floor 65%

Sensitivity live

Price	-10% $9,401	-5% $8,751	+0% $8,100	+5% $7,449	+10% $6,798
Rent	-10% $5,945	-5% $7,022	+0% $8,100	+5% $9,177	+10% $10,255
Rate	-1.0pp $9,258	-0.5pp $8,685	base $8,100	+0.5pp $7,504	+1.0pp $6,898

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	14	8	$27,280
Total (8 units)			$27,280

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $574,750
• Closing costs: $68,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $2,299,000 Active 35 DOM
2. 2026-06-17
   days on market $2,299,000 Active 34 DOM
3. 2026-06-16
   days on market $2,299,000 Active 33 DOM
4. 2026-06-15
   days on market $2,299,000 Active 32 DOM
5. 2026-06-13
   days on market $2,299,000 Active 30 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   pricedays on market $2,299,000 Active 29 DOM
8. 2026-06-09
   days on market $2,399,000 Active 26 DOM
9. 2026-06-08
   days on market $2,399,000 Active 25 DOM
10. 2026-06-07
    days on market $2,399,000 Active 24 DOM
11. 2026-06-04
    days on market $2,399,000 Active 21 DOM
12. 2026-06-03
    days on market $2,399,000 Active 20 DOM
13. 2026-06-02
    days on market $2,399,000 Active 19 DOM
14. 2026-06-01
    days on market $2,399,000 Active 18 DOM
15. 2026-05-31
    days on market $2,399,000 Active 17 DOM
16. 2026-05-14
    listed $2,399,000 Active 2012-char remark

    Show marketing remark (2012 chars)

    650 W Wilson is 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 two vacancies 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, which will both be delivered 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 5% 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.

17. 2024-10-09
    historical $1,775
18. 2024-09-07
    price $1,775
19. 2024-09-05
    listed $1,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $5,247 · $437/mo
• Projected year-2 tax: $17,472 · $1,456/mo
• Expected delta: +$12,225/yr (+$1,019/mo · 233.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 8 d/yr ≥94°F today · 23 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $327,360
• − Mortgage interest: −$128,780
• − Property taxes: −$5,247
• − Insurance: −$11,495
• − Repairs & maintenance: −$26,189
• − Management: −$26,189
• − Depreciation: −$66,880
• Taxable income: $62,581
• Est. tax owed @ 24.0%: −$15,019
• After-tax cash flow: $82,179/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Glendale Unified
• NCES district ID: 0615240
• Math proficiency: 53% ▼ -1.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $58,064
• Composite: 51.38/100
• National rank: #1733
• State rank: #81 of 517 in CA

Livability — Glendale

• Score: 72/100
• State rank: #201
• US rank: #6508

Category grades

Amenities A+ Commute A+ Cost of living F Crime C Employment B+ Housing C+ Health & safety C- User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glendale, CA
• County: Los Angeles County · 9,444,647 people
• City population: 172,545
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 16,856
• Household income: $82,364
• Rent vs Own: 81.1% rent · 18.9% own
• Severe rent burden: 2080.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Asian 19% Hispanic / Latino 18% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Scotch-Irish 3% Italian 1% Slovak 1%
• Foreign-born: 55% · Canada, South Korea, China
• Languages at home: 30% English-only · Other Indo-European 34% Spanish 16% Tagalog/Filipino 6%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.01%
• Current HPI: 415.2392
• Rent YoY: ▼ -1.72%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+133177.8% since first listed

4 events — show timeline

• 2026-05-14 Listed $2,399,000 CRMLS
• 2024-10-09 Rental Removed $1,775 RENTALBEAST
• 2024-09-07 Price Changed $1,775 RENTALBEAST
• 2024-09-05 Listed for Rent $1,800 RENTALBEAST

Property tax history

+5.9%/yr

Latest (2025): $5,247 · -3.4% YoY. Source: county tax records.