| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 60th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1305 N Hollywood Way, Burbank, CA, 91505, US |
| Region / Metro | Burbank |
| Year of Construction | 2008 |
| Units | 35 |
| Transaction Date | 2021-08-21 |
| Transaction Price | $15,500,000 |
| Buyer | GGF IV LLC |
| Seller | 1301 HOLLYWOOD WAY LLC |
1305 N Hollywood Way Burbank Multifamily Investment
This 35-unit property built in 2008 benefits from Burbank's strong rental market fundamentals, with neighborhood occupancy rates of 94.9% supporting consistent cash flow potential.
The property sits within an Urban Core neighborhood ranking in the top quartile among 1,441 metro neighborhoods for overall investment attractiveness, with an A- rating. Neighborhood-level occupancy remains stable at 94.9%, indicating consistent tenant demand in this Los Angeles submarket.
Built in 2008, this property represents newer vintage compared to the neighborhood average construction year of 1953, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. The surrounding area features strong amenity density, with 5.2 grocery stores per square mile and 2.6 cafes per square mile, both ranking in the 96th percentile nationally for tenant convenience.
Demographics within a 3-mile radius show a mature rental market with 65.6% of housing units renter-occupied, supporting sustained multifamily demand. The area maintains median household income of $89,010, while median contract rents of $1,844 suggest reasonable affordability for the local workforce. Home values averaging $881,081 with a value-to-income ratio in the 98th percentile nationally indicate elevated ownership costs that reinforce rental demand.
Forward-looking demographics project household growth of 35.8% through 2028, expanding the potential tenant base. Projected median household income increases to $126,724 support future rent growth potential, while forecasted contract rents of $2,515 indicate continued pricing power in this established rental submarket.
Safety data for this specific neighborhood is not currently available in the dataset. Investors should conduct independent due diligence regarding local crime trends and security considerations as part of their property evaluation process.
The property benefits from proximity to major entertainment and media employers, providing workforce housing for a stable tenant base in Burbank's established corporate corridor.
- Radio Disney — media & entertainment (1.5 miles)
- Disney — entertainment & media (1.8 miles) — HQ
- Charter Communications — telecommunications (1.9 miles)
- Live Nation Entertainment — entertainment services (5.0 miles)
- Avery Dennison — manufacturing & materials (5.5 miles) — HQ
This 35-unit property offers investors exposure to Burbank's resilient rental fundamentals, supported by neighborhood occupancy rates of 94.9% and proximity to major entertainment industry employers. According to CRE market data from WDSuite, the area ranks in the top quartile among Los Angeles metro neighborhoods for overall investment attractiveness, driven by strong amenity access and demographic stability.
The 2008 construction vintage provides modern building systems while avoiding the capital expenditure cycles typical of older multifamily assets. With 65.6% of area housing units renter-occupied and projected household growth of 35.8% through 2028, the property is positioned within an expanding tenant pool that supports occupancy stability and potential rent growth.
- Neighborhood occupancy rate of 94.9% indicates consistent tenant demand
- Top quartile metro ranking for overall investment attractiveness
- Proximity to Disney headquarters and entertainment industry employers
- 2008 vintage reduces near-term capital expenditure needs
- Risk consideration: High value-to-income ratios may limit local purchasing power