| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 67th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1616 Grismer Ave, Burbank, CA, 91504, US |
| Region / Metro | Burbank |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1616 Grismer Ave Burbank Multifamily Investment Opportunity
Situated in an Urban Core pocket of Burbank with durable renter demand, the surrounding neighborhood shows high occupancy and amenity access, according to WDSuite s CRE market data. Investors evaluating stabilized cash flow in Los Angeles County may find this location 27s tenant depth supportive of steady leasing.
The property sits within a highly ranked Burbank neighborhood (A-rated and top quartile among 1,441 metro neighborhoods), where amenity access is a strength. Restaurants, groceries, parks, and pharmacies all score in the mid-90s by national percentile, signaling walkable convenience that can aid retention and support consistent leasing.
Neighborhood occupancy is 96.8% (neighborhood metric, not the property), placing it in the 82nd percentile nationally; alongside an 88th-percentile NOI-per-unit benchmark, this points to a submarket that has historically supported stable operations based on CRE market data from WDSuite. The average school rating trends near the 73rd percentile nationally, adding to overall livability for family renters.
Vintage context matters: built in 1986, the asset is newer than the neighborhood 27s average vintage (1976). That relative youth can be a competitive positive versus older stock, while investors should still plan for selective modernization of systems and interiors to meet current renter expectations.
Tenure patterns reinforce multifamily depth: about 71.7% of housing units in the neighborhood are renter-occupied, indicating a broad tenant base and demand resilience for professionally managed apartments. Within a 3-mile radius, households have grown even as population edged down, implying smaller household sizes and a renter pool that is expected to expand further in the forecast period a0 9 a0supporting occupancy stability rather than signaling new unit construction.
Ownership remains a high-cost proposition locally (home values sit around the mid-$800Ks and value-to-income is in the 98th national percentile). That ownership backdrop typically sustains renter reliance on multifamily housing, while the neighborhood 27s rent-to-income profile suggests some affordability pressure a0 9 a0a factor for lease management and renewal strategies.
Safety indicators are competitive among Los Angeles a0 9Long Beach a0 9Glendale neighborhoods (crime rank near the top 40% out of 1,441). Nationally, the area trends safer than average overall (around the 65th percentile), with violent incidents tracking near the top quartile (76th percentile) and property offenses in a stronger position (86th percentile).
Year-over-year trends are mixed: estimated violent offenses have decreased sharply, while estimated property offenses have risen. For investors, this suggests routine monitoring and pragmatic security measures to protect common areas and parking, without altering the broader view that the submarket compares favorably regionally.
Proximity to major employers underpins demand for workforce and professional renters, with quick commutes to telecommunications, entertainment, media, and materials corporate offices listed below.
- Charter Communications 2D telecommunications (1.2 miles)
- Disney 2D entertainment studios (2.5 miles) 2D HQ
- Radio Disney 2D media (3.0 miles)
- Avery Dennison 2D materials manufacturing (4.6 miles) 2D HQ
- Live Nation Entertainment 2D entertainment (6.4 miles)
1616 Grismer Ave aligns with an Urban Core location in Burbank that exhibits strong renter fundamentals: high neighborhood occupancy, deep renter-occupied housing share, and nationally competitive amenity access. Built in 1986, the asset is newer than the area 27s average vintage, suggesting relative competitive positioning versus older stock, with potential to create value through targeted renovations. Based on CRE market data from WDSuite, neighborhood occupancy and NOI-per-unit benchmarks indicate steady operations compared with national trends, while elevated ownership costs locally support durable multifamily demand.
Within a 3-mile radius, households have increased and are projected to grow further, pointing to a larger tenant base and supportive conditions for leasing. That said, rent-to-income signals some affordability pressure, and recent property offense trends warrant standard risk controls, reinforcing the importance of thoughtful lease management and property-level security practices.
- Urban Core location with high neighborhood occupancy and strong amenity access supporting retention
- 1986 vintage offers competitive positioning versus older stock with selective modernization upside
- High-cost ownership market reinforces renter reliance and multifamily demand
- 3-mile household growth and forecast expansion support a larger renter pool and leasing stability
- Risks: affordability pressure and recent property offense uptick call for active lease and security management