| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 79th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 E Olive Ave, Burbank, CA, 91501, US |
| Region / Metro | Burbank |
| Year of Construction | 1973 |
| Units | 62 |
| Transaction Date | 2012-11-30 |
| Transaction Price | $15,625,000 |
| Buyer | 460 South Lake Avenue, Ltd |
| Seller | Villa 600 Associates |
600 E Olive Ave Burbank Multifamily Investment
Positioned in a high-income pocket of Burbank, the property benefits from a deep renter base and neighborhood occupancy that trends above national medians, according to WDSuite’s CRE market data.
Located in Burbank’s Urban Core, 600 E Olive Ave sits within a neighborhood that shows solid renter demand and income fundamentals. Neighborhood occupancy is competitive versus many U.S. areas (63rd national percentile), and the renter-occupied share indicates meaningful depth in multifamily demand. Median household income in the neighborhood ranks in the upper tier nationally, supporting leasing power and helping stabilize collections across cycles.
Schools in the neighborhood test well relative to national peers (top quartile nationally), which can help with retention for family-oriented renters. Amenity density within the immediate neighborhood is sparse by metro standards, so most daily needs are likely met by short drives rather than walking; investors should underwrite parking and convenience accordingly.
Within a 3-mile radius, demographics indicate a sizable population and modest recent population movement, with households trending upward and projections pointing to additional household growth over the next five years. This suggests a larger tenant base and supports occupancy stability even if household sizes continue to edge lower.
The neighborhood’s ownership market is high-cost (home values sit near the top of national ranges), which typically sustains reliance on rental housing and can support lease retention and pricing power for well-managed assets. With contract rents elevated relative to many U.S. neighborhoods yet a rent-to-income ratio around one-fifth, affordability pressure appears manageable in this area, which is constructive for renewals.
The asset’s 1973 construction predates the area’s average vintage (1980s), pointing to potential value-add through unit and systems upgrades and the need for thoughtful capital planning to maintain competitive positioning against newer stock.
Comparable neighborhood-level crime metrics were not available from WDSuite for this Burbank location. Investors typically benchmark safety using city and police department resources, plus trend data at the neighborhood and submarket level, to contextualize tenant retention and leasing assumptions.
Proximity to major entertainment and corporate employers underpins workforce housing demand and reduces commute times for renters. Notable employers nearby include Disney, Charter Communications, Radio Disney, and Avery Dennison, with additional corporate hubs within a broader 10-mile radius.
- Disney — corporate offices (2.4 miles) — HQ
- Charter Communications — corporate offices (2.6 miles)
- Radio Disney — corporate offices (3.2 miles)
- Avery Dennison — corporate offices (3.3 miles) — HQ
- Live Nation Entertainment — corporate offices (9.4 miles) — HQ
600 E Olive Ave offers scale at 62 units in a Burbank neighborhood with income strength, solid renter concentration, and occupancy that sits above national medians. According to CRE market data from WDSuite, the neighborhood’s rent levels are elevated while rent-to-income metrics remain manageable, supporting renewals and cash flow durability relative to many U.S. areas.
The 1973 vintage suggests clear value-add and capital planning opportunities—modernizing interiors, common areas, and building systems can sharpen competitiveness versus 1980s-and-newer stock. Nearby blue-chip employers broaden the renter pool and support leasing stability, while high ownership costs in the area reinforce sustained demand for multifamily units.
- Neighborhood occupancy and incomes support durable tenant demand and renewal momentum.
- 1973 construction presents value-add upside via unit and systems upgrades.
- Proximity to major employers (Disney, Charter, Avery Dennison) underpins leasing and retention.
- High-cost ownership market supports reliance on rentals and pricing power for well-managed assets.
- Risks: older asset capex needs and amenity-sparse micro-area may require stronger on-site offerings.