Updated Oct 23, 2026
SOLDMultiFamily
Albert Hairapetian Buys 58-Unit Multifamily Building In Glendale For $19 Million
1636 North Verdugo Road
$19,000,000
$320/SF
Building Size
59,257 SF
Asset Type
MultiFamily
Closing
Oct 23, 2026
About this deal
AI
1636 North Verdugo Road, located in Glendale, is a multifamily asset that has been sold for $19,000,000. This four-story apartment building, built in 1974, encompasses approximately 59,257 square feet and includes a total of 58 units. The unit mix consists of 27 two-bedroom, two-bath units, 13 two-bedroom, one-bath units, and 18 one-bedroom units, along with 87 parking spaces on a 27,856 square foot lot zoned GLR4. The transaction reflects a price of $327,586 per unit and $320 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,000,000
- Units: 58
- Price Per Unit: $327,586
- Square Footage: 59,257
- Price Per Square Foot: $320
- Buyer: Albert Hairapetian
- Buyer's Representative: Albert Hairapetian - Arbitrage Real Estate Group
- Seller's Representatives: Jenny Eng & Hannah Hampton - CBRE
Jenny Eng and Hannah Hampton of CBRE represented the seller in this transaction, which involved a well-located apartment building in northern Glendale, indicative of the active multifamily market within the area.
On the Map
$19,000,000
$320/SF
MultiFamily
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Glendale MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93