| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 38th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1039 Justin Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1990 |
| Units | 25 |
| Transaction Date | 1997-12-23 |
| Transaction Price | $2,173,000 |
| Buyer | GALSTIAN GAGIK |
| Seller | VALDES JOSE |
1039 Justin Ave Glendale Renter-Demand Multifamily
Neighborhood fundamentals point to steady occupancy and a deep renter base in Glendale according to WDSuite s CRE market data which supports durable leasing for well-positioned assets.
This Urban Core neighborhood in Glendale carries a B+ rating and demonstrates leasing stability, with neighborhood occupancy levels in the top quintile nationally and competitive among Los Angeles-Long Beach-Glendale neighborhoods. Renter concentration is high, indicating a substantial share of housing units that are renter-occupied, which translates to a broad tenant base and supports resident retention through cycles.
Local convenience is a differentiator: cafes and grocery options rank near the top nationally by density, reinforcing day-to-day livability and appeal for renters who prioritize walkable amenities. Immediate park access is limited, which may matter for some tenants; still, the surrounding amenity mix helps sustain neighborhood vibrancy and leasing interest.
Home values benchmark well above national norms, characteristic of a high-cost ownership market in Los Angeles County. For multifamily investors, elevated ownership costs tend to sustain reliance on rentals, reinforcing demand depth and pricing power. At the same time, neighborhood rent-to-income ratios signal affordability pressure, so asset plans should emphasize value, resident retention, and disciplined lease management.
Demographic statistics aggregated within a 3-mile radius show households have expanded in recent years and are projected to grow further by 2028 even as population trends soften, implying smaller household sizes and a larger renter pool entering the market. This backdrop generally supports occupancy stability for professionally managed properties.
The property s 1990 construction is newer than the neighborhood s average vintage from the early 1960s. That positioning can be competitive versus older local stock, while investors should still underwrite for modernization of building systems and common areas where needed to maintain leasing velocity.
Safety indicators benchmark modestly above national averages overall, with property and violent offense measures landing in favorable national percentiles. Within the Los Angeles-Long Beach-Glendale metro, the neighborhood s crime rank sits around the metro midpoint among 1,441 neighborhoods, suggesting conditions that are neither an outlier risk nor a distinct advantage compared with peers.
For underwriting, this typically supports stable operations when paired with standard on-site security, lighting, and access controls, and it aligns with the broader leasing resilience observed across the submarket.
Proximity to major employers anchors demand for workforce and professional renters, supporting commute convenience and leasing durability. Nearby corporate offices include Avery Dennison (materials & labeling), Disney (entertainment), Radio Disney (media), Charter Communications (telecommunications), and Live Nation Entertainment (entertainment).
- Avery Dennison materials & labeling (2.1 miles) HQ
- Disney entertainment (2.2 miles) HQ
- Radio Disney media (3.2 miles)
- Charter Communications telecommunications (3.8 miles)
- Live Nation Entertainment entertainment (5.6 miles)
1039 Justin Ave benefits from strong neighborhood fundamentals: high renter-occupied share, competitive occupancy within the Los Angeles-Long Beach-Glendale metro, and walkable daily amenities that help sustain leasing. Elevated ownership costs in the area underpin rental reliance, while the property s 1990 vintage offers an edge versus older local stock, with potential to capture demand through targeted upgrades.
Within a 3-mile radius, households have been growing and are projected to increase further by 2028 despite softer population trends, indicating smaller household sizes and a larger tenant base to support occupancy stability. Based on CRE market data from WDSuite, rent levels benchmark high relative to incomes in the immediate neighborhood, so asset strategy should pair competitive finishes with prudent lease management to balance pricing power and retention.
- Renter depth and competitive occupancy support stable cash flow potential
- 1990 vintage is newer than local average, with modernization upside
- Walkable amenities (cafes, groceries) enhance leasing velocity and retention
- High-cost ownership market reinforces multifamily demand and pricing power
- Risk: affordability pressure requires careful rent setting and retention focus