| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 67th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1612 Grismer Ave, Burbank, CA, 91504, US |
| Region / Metro | Burbank |
| Year of Construction | 1986 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1612 Grismer Ave Burbank Multifamily Investment
Neighborhood-level data point to steady renter demand and above-average occupancy, according to WDSuite’s CRE market data, supporting a durable income profile for this 23-unit asset in Burbank. Metrics cited reflect the surrounding neighborhood, not the specific property.
Located in Burbank’s Urban Core, the surrounding neighborhood rates A and is competitive among Los Angeles-Long Beach-Glendale metro neighborhoods (ranked 76 out of 1,441). Amenities are a clear strength, with restaurants, groceries, parks, and pharmacies placing in the top quartile nationally, reinforcing daily convenience and supporting leasing velocity.
Neighborhood occupancy is strong and has trended slightly higher over five years, with current levels in the upper tier nationally. A high share of renter-occupied units in the neighborhood indicates deep tenant demand for multifamily, which typically supports occupancy stability and reduces downtime between turns.
Within a 3-mile radius, households have grown even as average household size edged down, signaling smaller households and a broader renter pool. Projections show modest population growth and additional household gains ahead, which can expand the tenant base and support rent levels over time.
Home values in the neighborhood sit at elevated levels relative to incomes, a high-cost ownership backdrop that tends to sustain reliance on rental housing and can aid retention and pricing power for well-run multifamily. Average school ratings are solid (mid-3s out of 5), and service/retail density adds to livability for residents, aligning with consistent demand drivers for workforce and professional renters.
Vintage context: the property’s 1986 construction is newer than the neighborhood average (1976). That positioning can be competitively favorable versus older local stock, though investors should plan for selective modernization of systems and common areas to remain current with renter preferences.
Neighborhood safety indicators compare favorably at the national level, with overall conditions roughly in the upper third of U.S. neighborhoods. Recent trends are mixed: estimates show a decline in violent offenses year over year (a positive direction), while property offenses rose over the same period. These figures reflect the neighborhood, not the property, and investors typically manage the latter risk through on-site controls and building security practices.
Within the Los Angeles-Long Beach-Glendale metro, the neighborhood sits around the middle of the pack, rather than at the extremes. For underwriting, a balanced approach that recognizes nationally competitive standing alongside recent property-crime volatility is prudent.
Proximity to large media and corporate employers supports a broad renter base and commute convenience, benefiting leasing and retention. Notable nearby employers include Charter Communications, Disney, Radio Disney, Avery Dennison, and Live Nation Entertainment.
- Charter Communications — corporate offices (1.2 miles)
- Disney — corporate offices (2.5 miles) — HQ
- Radio Disney — corporate offices (2.9 miles)
- Avery Dennison — corporate offices (4.6 miles) — HQ
- Live Nation Entertainment — corporate offices (6.4 miles)
1612 Grismer Ave offers exposure to a high-amenity Burbank neighborhood with strong renter-occupied concentration and above-average occupancy that has edged higher over five years. The 1986 vintage is newer than local average, suggesting competitive positioning versus older stock while still leaving room for targeted value-add through unit and common-area updates.
According to CRE market data from WDSuite, neighborhood livability, national top-quartile amenity access, and a high-cost ownership landscape reinforce multifamily demand drivers. Within a 3-mile radius, household growth alongside smaller household sizes points to a broader renter pool, supporting occupancy stability and measured pricing power. Balanced underwriting should account for affordability pressure for some renters and monitor neighborhood property-crime trends even as violent incidents have eased year over year.
- Strong neighborhood occupancy and deep renter-occupied base support stable cash flow
- Newer-than-average 1986 construction with potential for targeted value-add
- Top-tier amenity access and major nearby employers bolster leasing and retention
- High-cost ownership market sustains multifamily demand and pricing power
- Risks: affordability pressure for some renters and recent property-crime volatility