| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 63rd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2223 N Catalina St, Burbank, CA, 91504, US |
| Region / Metro | Burbank |
| Year of Construction | 2012 |
| Units | 20 |
| Transaction Date | 2010-09-28 |
| Transaction Price | $1,900,000 |
| Buyer | BURBANK HOUSING CORPORATION |
| Seller | NIELLA ALEXANDER |
2223 N Catalina St, Burbank — Newer 20-Unit Multifamily
Positioned in a high-cost ownership pocket of Burbank, this 2012-vintage asset benefits from a deep renter base and durable demand, according to WDSuite’s CRE market data.
Located in Burbank’s inner-suburb fabric, the property sits in a neighborhood rated A and ranked 156 of 1,441 Los Angeles metro neighborhoods — competitive among Los Angeles-Long Beach-Glendale, CA submarkets. Amenity access is a strength: restaurant density trends in the top quartile nationally and park access also tracks well above national medians, supporting everyday livability that helps leasing and retention.
The asset’s 2012 construction is materially newer than the neighborhood’s typical 1960s-era stock. For investors, that translates to relative competitive positioning versus older properties and potential for selective modernization rather than full-scale capital programs, while still planning for ongoing systems upkeep as the building ages.
Renter concentration is high at the neighborhood level, with a large share of housing units renter-occupied (top national percentile). That depth of renter demand supports a broader tenant base and contributes to occupancy stability at the neighborhood level. Neighborhood occupancy is measured for the neighborhood, not this property, and remains above national midpoints even after a modest five-year easing.
Within a 3-mile radius, households have increased over the past five years and are projected to expand further, pointing to a larger tenant pool ahead. Even with population mix shifts toward smaller household sizes, the net effect is supportive of multifamily demand and leasing velocity. Elevated home values in the neighborhood (high-cost ownership market versus national norms) reinforce reliance on rental options, which can aid pricing power and lease retention.
Detailed crime metrics for this neighborhood are not available in WDSuite for the current period. Investors typically contextualize safety by comparing neighborhood trends to broader Los Angeles metro patterns and by reviewing multi-year trajectories rather than single-year snapshots. Consider layering local public data and property-level measures (lighting, access control, on-site management) to assess tenant comfort and retention implications.
Proximity to major media and corporate offices underpins workforce housing demand and commute convenience, with strong draws from Charter Communications, Disney, Radio Disney, Avery Dennison, and Live Nation Entertainment.
- Charter Communications — telecommunications (0.5 miles)
- Disney — media & entertainment (2.7 miles) — HQ
- Radio Disney — media (2.8 miles)
- Avery Dennison — materials & labeling (5.5 miles) — HQ
- Live Nation Entertainment — live entertainment offices (6.3 miles)
This 20-unit property, built in 2012, offers a newer-vintage alternative in a predominantly older Burbank neighborhood, positioning it well versus legacy stock for leasing and retention. At the neighborhood level, renter-occupied housing share is exceptionally high and occupancy remains above national midpoints, supporting demand depth even as rates have eased modestly in recent years. Elevated neighborhood home values point to a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can support pricing discipline. According to CRE market data from WDSuite, amenity access and daily needs are strong, contributing to livability that complements an investment thesis focused on steady renter demand.
Demographic data within a 3-mile radius shows households have grown and are projected to expand further, implying a larger tenant base and sustained occupancy support. While rent-to-income levels warrant ongoing lease management to mitigate affordability pressure, the asset’s relative youth enables targeted upgrades rather than heavy repositioning, offering potential to capture incremental rent through selective modernization and operational execution.
- Newer 2012 construction versus older neighborhood stock supports competitive positioning and measured CapEx planning.
- High renter-occupied share at the neighborhood level and above-median occupancy underpin demand stability and tenant depth.
- High-cost ownership environment reinforces reliance on rentals, aiding pricing power and lease retention.
- 3-mile household growth and projected expansion point to renter pool expansion and support for leasing velocity.
- Risk: affordability pressure and broader metro cyclicality require disciplined lease management and expense control.