| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 71st | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 245 W Tujunga Ave, Burbank, CA, 91502, US |
| Region / Metro | Burbank |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
245 W Tujunga Ave Burbank Multifamily Investment
This 36-unit property sits in a neighborhood with 79% renter-occupied housing and above-average NOI per unit performance. CRE market data from WDSuite indicates strong rental fundamentals in this high-amenity urban core location.
Located in Burbank's urban core, this neighborhood ranks among the top quartile nationally for overall investment quality, placing 56th among 1,441 metro neighborhoods with an A+ rating. The area maintains strong rental fundamentals with 79% of housing units renter-occupied, ranking in the 99th percentile nationally and supporting consistent tenant demand for multifamily properties.
The neighborhood demonstrates above-average financial performance with NOI per unit averaging $10,099, ranking in the 80th percentile nationally. Current occupancy sits at 94%, while median contract rents of $1,803 have grown 23% over five years. Demographics within a 3-mile radius show a stable renter base of over 131,000 residents, with 58.4% of housing units renter-occupied and median household income of $94,686.
Built in 1987, this property aligns with the neighborhood's average construction year of 1986, indicating consistent building stock that may present value-add renovation opportunities. The area offers exceptional amenity density, ranking in the 95th percentile nationally, with high concentrations of restaurants, cafes, childcare facilities, and grocery stores that support tenant retention and appeal.
Forward-looking demographics indicate household growth of 31.7% projected through 2028, with median household income expected to rise 38.6% to $131,222. These trends suggest expanding renter demand and potential for rent growth, though investors should monitor the rent-to-income ratio which currently ranks in the bottom quartile nationally, indicating affordability pressure that may affect lease management strategies.
The neighborhood demonstrates moderate safety metrics relative to the Los Angeles metro area. Property crime rates rank 40th among 1,441 metro neighborhoods, placing in the 85th percentile nationally, indicating favorable conditions compared to most U.S. neighborhoods. Property crime has declined 30% year-over-year, suggesting improving trends.
Violent crime rates show more mixed signals, with current levels ranking 483rd among metro neighborhoods (58th percentile nationally). However, violent crime increased 33.9% year-over-year, ranking in the bottom third of metro neighborhoods for this trend. Investors should consider these dynamics when evaluating tenant retention and insurance costs, while noting that overall crime performance remains competitive within the broader regional context.
The property benefits from proximity to major entertainment and media employers, providing workforce housing for professionals in these stable industries.
- Disney — entertainment & media (1.3 miles) — HQ
- Radio Disney — entertainment & media (2.1 miles)
- Charter Communications — telecommunications (2.5 miles)
- Avery Dennison — manufacturing & materials (3.5 miles) — HQ
- Live Nation Entertainment — entertainment services (5.2 miles)
This 36-unit property presents a compelling multifamily investment opportunity in Burbank's A+-rated urban core neighborhood. Built in 1987, the asset offers potential value-add upside through strategic renovations while benefiting from a market with 79% renter-occupied housing units and above-average NOI performance. Commercial real estate analysis from WDSuite shows the neighborhood ranking in the top quartile nationally for investment fundamentals, supported by exceptional amenity density and proximity to major entertainment employers including Disney headquarters.
Demographic projections within the 3-mile radius indicate household growth of 31.7% through 2028, with median income expected to rise 38.6% to $131,222, suggesting expanding renter demand and rent growth potential. The neighborhood's 94% occupancy rate and declining property crime trends support operational stability, though the bottom-quartile rent-to-income ratio requires careful lease management to maintain affordability and retention.
- Top quartile neighborhood ranking with A+ investment rating and 99th percentile renter density
- Above-average NOI per unit performance at $10,099 (80th percentile nationally)
- Strong employer base with Disney headquarters 1.3 miles away supporting workforce housing demand
- 1987 vintage offers value-add renovation potential in established neighborhood
- Risk consideration: Bottom quartile rent-to-income ratio requires active lease management strategies