| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 67th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1618 Grismer Ave, Burbank, CA, 91504, US |
| Region / Metro | Burbank |
| Year of Construction | 1986 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1618 Grismer Ave Burbank Multifamily Investment Opportunity
This 25-unit property benefits from strong neighborhood-level occupancy near 97% and a deep renter base representing 72% of local housing units, according to CRE market data from WDSuite.
The neighborhood surrounding 1618 Grismer Ave ranks in the top quartile nationally for amenity access, with 4.3 grocery stores and 33 restaurants per square mile supporting tenant retention. The area holds an A rating among 1,441 neighborhoods across the Los Angeles-Long Beach-Glendale metro, reflecting strong livability fundamentals. Neighborhood-level occupancy stands at 96.8%, above metro norms, while renter-occupied units represent 71.7% of local housing stock—placing this submarket in the 97th percentile nationally for renter concentration. This depth of rental tenure underpins stable multifamily demand.
Median contract rents within the neighborhood reach $1,833, ranking in the 89th percentile nationally and reflecting pricing power supported by limited ownership accessibility. Median home values of $829,000 have risen 39% over five years, sustaining reliance on rental housing among households with median income near $71,000. Within a 3-mile radius, demographic statistics show a population of approximately 135,000 with 57% of housing units renter-occupied and median household income of $95,000. Looking forward, forecasts anticipate median household income rising to $138,000 by 2028—a 45% increase—alongside a 37% climb in median contract rents to $2,639, supporting lease renewal pricing and tenant retention strategies.
Built in 1986, the property's vintage aligns closely with the neighborhood average construction year of 1976, indicating limited near-term capital expenditure pressure relative to older stock while offering potential value-add upside through selective unit renovations or common-area improvements. Average unit size of 635 square feet positions the asset competitively for workforce and single-occupant renters. Schools in the area average a 3.5 rating out of five, ranking in the 73rd percentile nationally, and the neighborhood benefits from above-average access to childcare, parks, and pharmacies—all supporting family and long-term tenant appeal.
The submarket's amenity density, elevated renter concentration, and forecast income growth provide a stable foundation for occupancy and rent performance. Investors should weigh these strengths against rent-to-income affordability metrics, which rank in the lower national percentiles, and monitor lease management strategies to balance pricing power with retention risk in a high-cost ownership environment.
Safety metrics for the neighborhood show mixed trends that merit balanced interpretation. Violent crime rates stand at 6.7 incidents per 100,000 residents, ranking in the 76th percentile nationally—indicating lower violent crime relative to most U.S. neighborhoods. Year-over-year, violent offense rates declined 75%, placing the area in the 95th percentile for improvement and signaling a favorable directional trend for tenant perception and retention.
Property crime rates, however, warrant closer attention. The most recent 12-month estimate shows 15.5 incidents per 100,000 residents, ranking the neighborhood in the 86th percentile nationally for low property crime. Yet this figure reflects a sharp 300% year-over-year increase, ranking in the 5th percentile for change—a reversal that may reflect localized enforcement shifts, reporting changes, or emerging pressures. Investors should monitor whether this spike stabilizes or persists, as sustained increases could influence tenant turnover, insurance costs, or lease-up velocity. Overall crime performance ranks near the metro median (563rd of 1,441 neighborhoods, 65th percentile nationally), consistent with urban core locations balancing density and livability.
The property benefits from proximity to a diversified base of entertainment, media, and corporate employers that anchor workforce housing demand in the Burbank submarket. Major offices within commuting distance include Disney headquarters, Charter Communications, and Avery Dennison, supporting stable tenant pools and lease retention.
- Charter Communications — telecommunications & media (1.2 miles)
- Disney — entertainment & media (2.5 miles) — HQ
- Radio Disney — broadcasting & media (3.0 miles)
- Avery Dennison — materials & manufacturing (4.6 miles) — HQ
- Live Nation Entertainment — entertainment & events (6.5 miles)
1618 Grismer Ave presents a multifamily opportunity supported by several converging market fundamentals. The property sits within a neighborhood ranking in the top quartile nationally for amenity density and livability, with neighborhood-level occupancy at 96.8%—above metro norms—and a renter-occupied housing share of 71.7%, placing the submarket in the 97th percentile nationally for rental concentration. This structural depth of rental tenure provides a stable demand foundation for lease-up and retention strategies.
Income and rent growth forecasts support forward pricing power. Median household income within a 3-mile radius is projected to rise 45% by 2028, reaching $138,000, while median contract rents are forecast to climb 37% to $2,639. These trends, combined with median home values of $829,000 and ongoing 5-year appreciation of 39%, sustain reliance on rental housing and underpin lease renewal pricing. The property's 1986 vintage aligns closely with neighborhood stock, limiting near-term capital expenditure pressure while offering selective value-add upside through unit or common-area improvements.
Proximity to major employers—including Disney headquarters, Charter Communications, and Avery Dennison—anchors workforce housing demand and supports tenant stability. The submarket benefits from strong amenity access, with 4.3 grocery stores and 33 restaurants per square mile, alongside above-average schools (73rd percentile nationally) and family-oriented services. Violent crime trends show favorable improvement, declining 75% year-over-year, though recent property crime volatility warrants monitoring as part of ongoing asset management.
Investors should balance these strengths with affordability considerations, as rent-to-income metrics rank in lower national percentiles, and assess lease management strategies to optimize occupancy and retention in a high-cost ownership environment. The combination of renter concentration, forecast income growth, and employer proximity positions the asset for stable cash flow performance within the Los Angeles-Long Beach-Glendale metro.