| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 71st | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 510 S Lake St, Burbank, CA, 91502, US |
| Region / Metro | Burbank |
| Year of Construction | 1987 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
510 S Lake St Burbank Multifamily Investment
This 38-unit property benefits from Burbank's high-amenity urban core environment and 79% renter-occupied housing market. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile nationally for amenity access while maintaining stable occupancy fundamentals.
Located in Burbank's Urban Core, this neighborhood ranks 56th among 1,441 metro neighborhoods with an A+ rating, placing it in the top quartile for overall investment fundamentals. The area maintains strong amenity density with 55.6 restaurants per square mile (top 4% nationally) and robust childcare infrastructure at 6.95 facilities per square mile (100th percentile nationally), supporting tenant retention through lifestyle convenience.
The housing market shows 79% renter occupancy (99th percentile nationally), creating a deep rental demand pool that supports multifamily fundamentals. Neighborhood occupancy rates average 94% with median contract rents at $1,803, reflecting market stability. Demographics within a 3-mile radius show 58.8% of housing units are renter-occupied, with household income growth of 29.4% over five years to a current median of $94,403.
Built in 1987, this property aligns with the neighborhood's average construction vintage of 1986, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. The area's home values averaging $840,410 (96th percentile nationally) reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
Forward-looking demographics project household income growth to $131,400 by 2028 (39.2% increase), with the renter pool expanding as total households increase by 31.8%. This projected growth supports long-term occupancy stability and potential for measured rent increases in line with income growth.
The neighborhood demonstrates competitive safety metrics relative to the Los Angeles metro area. Property crime rates rank 40th among 1,441 metro neighborhoods (85th percentile nationally), indicating relatively low property crime compared to other urban markets nationwide. Recent trends show property crime declining by 30% year-over-year, suggesting improving conditions for tenant retention and property management.
Violent crime rates place the neighborhood at 483rd among metro neighborhoods (58th percentile nationally), reflecting moderate performance within the broader Los Angeles region. While violent crime increased 33.9% year-over-year, this trend requires monitoring as part of ongoing property management and tenant relations considerations.
The property benefits from proximity to major entertainment and media employers that anchor Burbank's economy and provide workforce housing demand for area renters.
- Disney — entertainment and media (1.4 miles) — HQ
- Radio Disney — broadcasting and media (2.3 miles)
- Charter Communications — telecommunications (2.7 miles)
- Avery Dennison — manufacturing and materials (3.3 miles) — HQ
This 38-unit Burbank property presents a value-oriented multifamily investment in a high-amenity urban core market with strong rental fundamentals. The neighborhood's 79% renter occupancy rate (99th percentile nationally) and 94% average occupancy provide a stable tenant base, while proximity to major employers like Disney headquarters supports consistent rental demand. Built in 1987, the property offers potential value-add opportunities through strategic renovations aligned with the area's strong demographics and income growth projections.
Commercial real estate analysis from WDSuite indicates the neighborhood's A+ rating reflects superior amenity access and livability factors that support tenant retention. With household incomes projected to grow 39.2% to $131,400 by 2028 and renter households expanding by 31.8%, the fundamentals support long-term occupancy stability and measured rent growth potential in line with area income trends.
- Strong rental market with 79% renter occupancy (99th percentile nationally)
- Proximity to Disney headquarters and major entertainment employers
- Value-add potential through strategic renovations of 1987 vintage property
- Projected 39.2% household income growth supporting rent growth potential
- Risk consideration: Monitor increasing violent crime trends and rent-to-income affordability pressures