| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 78th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2908 W Victory Blvd, Burbank, CA, 91505, US |
| Region / Metro | Burbank |
| Year of Construction | 1989 |
| Units | 21 |
| Transaction Date | 2002-03-26 |
| Transaction Price | $2,350,000 |
| Buyer | C & P PROPERTIES #1 |
| Seller | 2908 WEST VICTORY BLVD LLC |
2908 W Victory Blvd Burbank Multifamily Investment
Neighborhood occupancy remains elevated and renter demand is supported by a high-cost ownership market in Burbank, according to WDSuite’s CRE market data for the surrounding area.
This Burbank location sits within an Urban Core neighborhood that ranks 269 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, making it competitive within the metro for multifamily fundamentals. Neighborhood occupancy is strong (above national norms), and median household incomes trend high, both supportive of rent collections and lease retention, based on CRE market data from WDSuite.
Day-to-day convenience is a draw: grocery access and pharmacies test well above national averages, while restaurants are solidly represented; cafés are less dense nearby. Average school ratings are strong (around 4 out of 5), which can aid resident retention among family renters. These indicators reflect neighborhood conditions, not property operations.
Within a 3-mile radius, demographics point to a stable-to-growing renter base. Population is expected to rise modestly by the mid-term, with households projected to increase and average household size trending smaller — a pattern that typically expands the pool of potential renters and can support occupancy stability. About two-thirds of housing units in the 3-mile area are renter-occupied, indicating depth in the tenant market.
Home values in the neighborhood sit at the upper end nationally, creating a high-cost ownership market that tends to reinforce reliance on rental housing. For investors, that context can sustain demand for quality units, though lease management should account for affordability pressure where rent-to-income ratios tighten. The property’s 1989 vintage is newer than the neighborhood’s older housing stock (average 1956), suggesting relative competitive positioning versus legacy assets while still leaving room for targeted modernization to support rent premiums.
Safety signals are mixed when viewed comparatively. Violent-offense exposure trends favorable versus neighborhoods nationwide (upper percentiles), while property-offense measures show a recent uptick. These are neighborhood-level indicators rather than block-specific figures and can shift over time; investors may want to weigh standard security measures and asset hardening alongside tenant experience.
Proximity to major media and corporate offices underpins workforce housing demand and commute convenience for renters, including Charter Communications, Disney, Radio Disney, Avery Dennison, and Live Nation Entertainment.
- Charter Communications — cable & media (1.0 miles)
- Disney — entertainment studios & offices (2.2 miles) — HQ
- Radio Disney — entertainment media (2.2 miles)
- Avery Dennison — packaging & labeling (5.3 miles) — HQ
- Live Nation Entertainment — live events & media (5.7 miles)
Positioned in a high-cost ownership pocket of Burbank with strong neighborhood occupancy and upper-income households, the asset benefits from durable renter demand and proximity to a deep entertainment/corporate employment base. According to CRE market data from WDSuite, neighborhood occupancy levels are above national benchmarks, while home values rank among the higher tiers nationally — dynamics that tend to support pricing power and lease retention for well-maintained stock.
The 1989 construction is newer than much of the surrounding housing (1950s average), offering relative competitiveness versus older properties and potential to capture value through selective renovations, systems updates, and common-area enhancements. Forward-looking 3-mile demographics indicate modest population growth and a notable increase in households with smaller household sizes, signaling a larger tenant base and support for occupancy stability over the medium term. Key watch items include affordability pressure management and monitoring of recent property-offense trends at the neighborhood level.
- Strong neighborhood occupancy and income profile support rent collections and retention
- High-cost ownership context reinforces multifamily demand and pricing power
- 1989 vintage out-positions older local stock; targeted renovations can drive NOI
- Risk: manage affordability pressure and monitor property-offense trends to protect retention