| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 70th | Good |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 221 W Elm Ave, Burbank, CA, 91502, US |
| Region / Metro | Burbank |
| Year of Construction | 1991 |
| Units | 23 |
| Transaction Date | 2000-03-28 |
| Transaction Price | $1,465,000 |
| Buyer | HEKMATJAH MAJID |
| Seller | SARAFIAN HOVANNES |
221 W Elm Ave, Burbank Multifamily Investment
Renter-occupied concentration in the neighborhood is high while occupancy sits near the metro middle, suggesting durable tenant depth with routine leasing management, according to WDSuite’s CRE market data. Location fundamentals in Burbank’s urban core support steady demand from nearby entertainment and corporate employment nodes.
Situated in Burbank’s Urban Core, the neighborhood ranks competitive among Los Angeles-Long Beach-Glendale neighborhoods (387 out of 1,441), signaling solid overall livability for workforce renters. Parks access is strong (top quartile nationally), and day-to-day convenience is reinforced by above-average restaurant and grocery density across the submarket, though cafés and pharmacies are comparatively limited.
Schools post an average rating around 4 out of 5 and sit in the top quartile nationally, which can aid family retention and length of stay. Median contract rents in the neighborhood are elevated versus national norms, while the renter-occupied share is high (approximately two-thirds of housing units and in the upper national percentiles), indicating a deep tenant base that supports leasing velocity and renewal potential.
Home values are among the highest nationwide and the value-to-income ratio sits near the top of national rankings, creating a high-cost ownership market that tends to sustain reliance on multifamily rentals. That said, the rent-to-income profile points to some affordability pressure, so disciplined renewal strategies and unit matching by price point remain important.
The property’s 1991 vintage is newer than the neighborhood’s older housing stock (average late-1960s), which supports competitive positioning against many nearby assets; targeted modernization of common areas and systems may still be prudent. Within a 3-mile radius, demographic data show modest population growth and rising household counts with further household expansion projected, expanding the local renter pool and supporting occupancy stability, based on CRE market data from WDSuite.
Comparable, rank-based safety metrics are not available for this neighborhood in WDSuite at this time. Investors typically benchmark location risk against city and metro trends and review official local reporting to inform underwriting, rather than relying on block-level conclusions.
Proximity to major entertainment and corporate offices underpins renter demand and commute convenience for a broad workforce, including Disney, Radio Disney, Avery Dennison, Charter Communications, and Live Nation Entertainment.
- Disney — entertainment & media (1.4 miles) — HQ
- Radio Disney — entertainment & media (2.4 miles)
- Avery Dennison — manufacturing & corporate services (2.8 miles) — HQ
- Charter Communications — telecommunications (3.2 miles)
- Live Nation Entertainment — entertainment (5.1 miles)
221 W Elm Ave offers durable renter demand in a high-cost ownership market where elevated home values reinforce multifamily reliance. Neighborhood occupancy trends are near the metro middle, but the renter-occupied share is high, providing depth for leasing and renewals. The 1991 vintage is newer than much of the surrounding housing stock, creating a competitive edge with potential to capture additional value through selective modernization rather than heavy repositioning.
Within a 3-mile radius, modest population growth alongside increasing and projected household counts indicates a larger tenant base over time, supporting occupancy stability. According to CRE market data from WDSuite, local amenities such as parks, groceries, restaurants, and well-rated schools rank favorably versus national baselines, while affordability pressure warrants careful rent and renewal management.
- High renter-occupied share supports tenant depth and leasing stability
- 1991 vintage out-positions older stock; targeted updates can enhance competitiveness
- Strong park, grocery, restaurant access and top-quartile schools bolster livability
- Employment proximity to Disney and major corporates supports demand and retention
- Risk: affordability pressure and midline occupancy call for disciplined rent strategy and tenant retention plans