| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 51st | Fair |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 507 E Cedar Ave, Burbank, CA, 91501, US |
| Region / Metro | Burbank |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2018-07-16 |
| Transaction Price | $7,150,000 |
| Buyer | GERRO JOHN M |
| Seller | THE SMALLENBURG FAMILY LLC |
507 E Cedar Ave Burbank Urban Core Multifamily
Renter demand is reinforced by a high share of renter-occupied units and dense amenities, with neighborhood occupancy performing above national medians, according to WDSuite’s CRE market data.
The property sits in an A-rated Urban Core neighborhood in the Los Angeles-Long Beach-Glendale metro, ranked within the top quartile among 1,441 metro neighborhoods. For investors, this positioning indicates durable renter interest relative to many Los Angeles submarkets and supports screening for stabilized multifamily income.
Amenity access is a key strength: cafes and grocery stores rank at the top of national distributions, with pharmacies and parks also scoring well above average. This density of daily-needs retail typically supports retention and minimizes concession pressure compared with amenity-scarce submarkets. Local schools average roughly mid-pack performance nationally, a neutral factor for broad renter appeal.
Multifamily fundamentals are competitive: the neighborhood’s occupancy sits above the national median, and the share of housing units that are renter-occupied is very high, signaling a deep tenant base and steady leasing velocity. Net operating income per unit trends are strong for the area, landing in the top decile nationally, which aligns with expectations for stabilized operations in well-located urban Los Angeles neighborhoods.
Within a 3-mile radius, household counts have inched higher even as overall population has been fairly flat, pointing to smaller household sizes and a gradual renter pool expansion that can support occupancy stability. Elevated home values relative to national norms characterize a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can support pricing power; however, rent-to-income levels suggest some affordability pressure, implying a need for disciplined renewals and lease management.
Current neighborhood crime metrics are not available in WDSuite for this location. Investors should contextualize safety using city and regional trendlines and on-the-ground diligence, comparing conditions to nearby Los Angeles-area neighborhoods rather than relying on block-level assumptions.
Proximity to major corporate offices underpins workforce housing demand and commute convenience, led by Disney, Charter Communications, Avery Dennison, Radio Disney, and Live Nation Entertainment.
- Disney — corporate offices (2.2 miles) — HQ
- Charter Communications — corporate offices (2.9 miles)
- Avery Dennison — corporate offices (2.9 miles) — HQ
- Radio Disney — corporate offices (3.1 miles)
- Live Nation Entertainment — corporate offices (6.0 miles)
507 E Cedar Ave comprises 20 units averaging roughly 841 square feet. Built in 1989, it is newer than the neighborhood’s typical housing vintage, providing relative competitiveness versus older stock while leaving room for targeted modernization to capture premiums. The surrounding A-rated Urban Core location shows strong amenity density and a very high renter concentration, supporting tenant depth and leasing stability. Elevated ownership costs locally tend to keep households in the rental market, while household growth within a 3-mile radius points to a gradually expanding renter pool.
According to CRE market data from WDSuite, neighborhood occupancy trends are above national medians and NOI per unit performance is strong for Los Angeles. Near-term strategy can emphasize steady operations and selective upgrades, with attention to affordability pressure in renewals and to broader economic sensitivity across Los Angeles employment hubs.
- A-rated Urban Core with top-tier amenities supports demand depth and retention
- 1989 vintage offers relative competitiveness with value-add potential through targeted updates
- High-cost ownership market sustains renter reliance and supports pricing power
- Risk: elevated rent-to-income ratios and macro sensitivity call for disciplined renewals and expense control