| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1002 N Louise St, Glendale, CA, 91207, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 1997-11-10 |
| Transaction Price | $359,500 |
| Buyer | SONI KETAN |
| Seller | KIM HYOUNG Y |
1002 N Louise St Glendale Multifamily Investment
This 22-unit property built in 1986 sits in a renter-concentrated urban neighborhood where occupancy tracks near 90% and median rents have risen nearly 50% over five years, according to CRE market data from WDSuite.
The property is located in an Urban Core neighborhood rated A overall, ranking in the top 7% among 1,441 neighborhoods in the Los Angeles-Long Beach-Glendale metro. Within a 3-mile radius, the area's renter-occupied housing unit concentration stands at roughly 70%, sustaining a deep tenant base for multifamily operators. Neighborhood-level occupancy has held near 90%, though it has softened slightly over the past five years as household counts have risen modestly while the renter pool has remained relatively stable.
Median contract rents in the immediate neighborhood are approximately $2,170, placing the area in the top quartile nationally and reflecting nearly 50% growth over the past five years. Across the broader 3-mile trade area, median household income is approximately $86,500, up 38% over the same period, and forecast to rise another 29% by 2028. Elevated home values—median around $563,000 in the neighborhood—limit accessibility to ownership and reinforce reliance on rental housing, supporting sustained multifamily demand and lease retention.
The property was built in 1986, slightly older than the neighborhood average construction year of 1981. This vintage suggests near-term capital expenditure planning and potential value-add opportunities through unit renovations or common-area upgrades. Amenity density ranks in the top 2% nationally, with high concentrations of grocery stores, pharmacies, cafes, and restaurants per square mile, enhancing tenant appeal and supporting retention in a competitive urban market.
Schools in the area average a 3.0 rating out of 5, positioning near the metro median. Childcare and park access both rank in the top quartile nationally, contributing to family-friendly appeal. Population within the 3-mile radius has declined modestly over the past five years, but household counts have grown and are forecast to expand significantly through 2028, driven by smaller household sizes and continued renter pool expansion.
Safety metrics for the neighborhood reflect favorable conditions relative to both metro and national benchmarks. The property offense rate is estimated at approximately 11.2 incidents per 100,000 residents, ranking in the top 11% nationally among neighborhoods, and has declined roughly 41% over the past year. Violent offense rates are similarly low, ranking in the top 12% nationally and showing a sharp 78% year-over-year decline.
Overall crime performance places the neighborhood in the 89th national percentile, indicating stronger safety conditions than the vast majority of comparable urban neighborhoods nationwide. These trends support tenant retention and lease-up velocity, particularly for workforce and family-oriented renters prioritizing security and livability in high-density markets.
The property benefits from proximity to a diversified base of corporate employers, including Fortune 500 headquarters and major office tenants that support workforce housing demand and commute convenience.
- Avery Dennison — materials science & manufacturing (0.3 miles) — HQ
- Disney — media & entertainment (4.2 miles) — HQ
- Radio Disney — broadcasting (5.1 miles)
- Charter Communications — telecommunications (5.9 miles)
- Live Nation Entertainment — entertainment services (6.6 miles)
This 22-unit asset offers exposure to a high-amenity urban neighborhood with strong renter concentration, rising incomes, and sustained rent growth. Neighborhood-level occupancy near 90% and a renter-occupied share of roughly 75% provide a stable tenant base, while median rents have risen nearly 50% over five years—outpacing income growth and reflecting sustained pricing power. Elevated home values limit ownership accessibility, reinforcing multifamily demand and supporting lease retention. The property's 1986 vintage suggests near-term capital planning and potential value-add upside through targeted unit or common-area renovations.
Within the 3-mile trade area, household counts are forecast to grow significantly through 2028, expanding the renter pool and supporting absorption. Proximity to major employers including Avery Dennison, Disney, and Charter Communications strengthens workforce housing appeal. However, investors should note that the rent-to-income ratio ranks in the bottom quartile nationally, indicating affordability pressure that may influence lease management and renewal strategies. Crime trends have improved sharply, with property and violent offense rates both declining year-over-year and ranking in the top quartile nationally, supporting tenant retention in a competitive market.
- Renter-concentrated neighborhood with 75% renter-occupied units and occupancy near 90%
- Median rents up nearly 50% over five years, supported by elevated home values and limited ownership access
- Forecast household growth through 2028 expands renter pool and supports absorption
- Proximity to Fortune 500 headquarters and diversified corporate employers enhances workforce housing appeal
- Rent-to-income ratio in bottom quartile nationally may require active lease management and renewal strategies