| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 38th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1016 Winchester Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1988 |
| Units | 29 |
| Transaction Date | 2021-11-05 |
| Transaction Price | $10,500,000 |
| Buyer | SIKDER FARUQUE |
| Seller | PALM DELUXE PARTNERS LP |
1016 Winchester Ave Glendale Multifamily Investment
This 29-unit property benefits from strong neighborhood-level occupancy at 96.8% and a highly rental-oriented market with 84.7% of housing units renter-occupied, according to CRE market data from WDSuite.
Located in Glendale's urban core, this neighborhood ranks in the 82nd percentile nationally for occupancy rates, demonstrating consistent rental demand stability. The area maintains 96.8% occupancy with 84.7% of housing units renter-occupied, ranking 27th among 1,441 metro neighborhoods for rental tenure share. Median contract rents of $1,806 have increased 26.6% over five years, indicating sustained pricing power in this rental-dominant market.
Built in 1988, this property aligns with the neighborhood's average construction year of 1961, positioning it as relatively newer vintage that may require less immediate capital expenditure compared to older area stock. The location offers strong amenity density with 9.18 grocery stores per square mile (99th percentile nationally) and 5.74 cafes per square mile, supporting tenant retention through walkable convenience.
Demographics within a 3-mile radius show a stable renter base with 66.8% of housing units renter-occupied and median household income of $86,039. Five-year projections indicate household growth of 30.4% and median income increases of 34.3%, supporting expanded rental demand. However, the current rent-to-income ratio of 0.76 suggests affordability pressure that requires careful lease management and renewal strategies.
Home values averaging $862,538 with 35.7% five-year appreciation reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing. The neighborhood's B+ rating reflects solid fundamentals, though investors should monitor the area's limited park access and moderate crime trends relative to metro averages.
The neighborhood demonstrates moderate safety metrics with property crime rates of 34.1 incidents per 100,000 residents, ranking 94th among 1,441 metro neighborhoods (78th percentile nationally). Violent crime remains relatively contained at 9.3 incidents per 100,000 residents, placing the area in the 71st percentile nationally for violent crime safety.
Property crime has increased 31.3% year-over-year, ranking in the 24th percentile nationally for crime trend stability. While current absolute crime levels remain competitive within the metro, investors should factor recent upticks into tenant retention and property management strategies. The area's urban core designation and high rental density require ongoing attention to security measures and community safety initiatives.
The neighborhood benefits from proximity to major corporate anchors, providing stable workforce housing demand within reasonable commuting distance of entertainment, technology, and professional services employers.
- Avery Dennison — materials & manufacturing (2.1 miles) — HQ
- Disney — entertainment & media (2.2 miles) — HQ
- Radio Disney — entertainment & media (3.1 miles)
- Charter Communications — telecommunications (3.8 miles)
- Live Nation Entertainment — entertainment services (5.6 miles)
This 29-unit property built in 1988 capitalizes on Glendale's strong rental fundamentals, with neighborhood-level occupancy of 96.8% ranking in the 82nd percentile nationally. The area's rental-dominant housing stock (84.7% renter-occupied) and five-year rent growth of 26.6% demonstrate sustained demand and pricing power. Projected household growth of 30.4% within a 3-mile radius supports expanded tenant pools, while proximity to major employers like Disney and Avery Dennison provides workforce housing stability.
However, the current rent-to-income ratio of 0.76 indicates affordability pressure requiring careful lease management. Recent property crime increases of 31.3% year-over-year warrant attention to security measures and tenant retention strategies. The property's 1988 vintage offers moderate value-add potential while avoiding extensive capital requirements typical of older neighborhood stock.
- Strong occupancy fundamentals with 96.8% neighborhood rate ranking 82nd percentile nationally
- Rental-dominant market with 84.7% renter-occupied units supporting demand stability
- Projected 30.4% household growth within 3-mile radius expanding tenant base
- Proximity to major corporate anchors including Disney and Avery Dennison headquarters
- Risk consideration: Affordability pressure with 0.76 rent-to-income ratio requires strategic lease management