| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 63rd | Good |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2430 N Naomi St, Burbank, CA, 91504, US |
| Region / Metro | Burbank |
| Year of Construction | 1988 |
| Units | 26 |
| Transaction Date | 2018-03-20 |
| Transaction Price | $8,350,000 |
| Buyer | 2430 Naomi Partners, LLC |
| Seller | Arturo and Juanita Barrera, Private Investor, Arturo and Juanita Barrera, Price/unit and /sf |
2430 N Naomi St, Burbank Multifamily Investment
Located in an Inner Suburb pocket of Burbank with steady renter demand, the surrounding neighborhood shows occupancy around the mid‑90s, according to WDSuite’s CRE market data. This positions a 26‑unit asset to compete on stability while benefiting from proximity to major entertainment and corporate employers.
The property sits in a high-amenity Burbank neighborhood rated A and ranked 156 among 1,441 Los Angeles metro neighborhoods, placing it in the top quartile locally. Amenity access is a strength — restaurants and cafes score in the top national percentiles, and parks access is similarly strong — helping support leasing velocity and resident retention for workforce and professional renters.
Renter concentration is elevated in the neighborhood (among the highest shares in the nation), which generally supports a deeper tenant base for multifamily owners. Median contract rents in the area benchmark above national norms, reflecting strong location fundamentals and potential pricing power for well-positioned assets.
Within a 3-mile radius, households have grown over the past five years and are projected to increase further by 2028, while average household size trends slightly smaller. This combination points to a larger tenant base and steady demand for rental units, particularly among singles and smaller households. Median and mean household incomes have also risen and are forecast to continue climbing, which can underpin rent growth while keeping affordability pressures more manageable than in some coastal submarkets.
Home values in the immediate area are among the highest nationally, a high-cost ownership market that tends to sustain renter reliance on multifamily housing and support lease retention. The building’s 1988 vintage is newer than the neighborhood’s average 1960s stock, offering relative competitiveness versus older properties while still warranting targeted modernization of aging systems or common areas to capture value-add upside based on commercial real estate analysis from WDSuite.
Neighborhood-level crime metrics were not available in WDSuite for this location at the time of analysis. Investors should review broader Burbank and Los Angeles County public safety trends and property-level historical performance to contextualize security measures, insurance, and operating assumptions.
The employment base is anchored by nearby media and corporate offices, supporting commuter convenience and multifamily renter demand. Notable employers include Charter Communications, Disney, Radio Disney, Avery Dennison, and Live Nation Entertainment.
- Charter Communications — corporate offices (0.3 miles)
- Disney — corporate offices (2.9 miles) — HQ
- Radio Disney — corporate offices (3.0 miles)
- Avery Dennison — corporate offices (5.5 miles) — HQ
- Live Nation Entertainment — corporate offices (6.6 miles)
2430 N Naomi St offers exposure to a top-quartile Burbank neighborhood with strong amenity access, elevated renter concentration, and a deep employment base. According to CRE market data from WDSuite, neighborhood occupancy remains healthy and local rents benchmark above national norms, supporting a case for durable demand and pricing power for well-maintained units. The 1988 vintage is newer than much of the surrounding housing stock, suggesting competitive positioning with potential renovation upside to enhance yield.
Within a 3-mile radius, household counts have increased and are projected to grow further, even as household size trends smaller — dynamics that expand the renter pool and support occupancy stability. High ownership costs nearby reinforce reliance on rental housing, while rising incomes can help sustain leasing and renewal performance. Key risks include entertainment and media sector cyclicality and the need to manage affordability pressure and turnover as rents rise.
- Top-quartile neighborhood with strong amenities and renter depth
- Healthy occupancy and rents above national norms support pricing power
- 1988 vintage offers relative competitiveness plus targeted value-add potential
- 3-mile radius shows growing households and smaller sizes, expanding tenant base
- Risks: sector cyclicality in nearby employers, affordability and turnover management