| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1040 San Rafael Ave, Glendale, CA, 91202, US |
| Region / Metro | Glendale |
| Year of Construction | 1985 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1040 San Rafael Ave Glendale Multifamily Investment
This 23-unit property built in 1985 sits within an Urban Core neighborhood where renter-occupied units comprise 65% of local housing stock. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for amenity access and maintains above-average occupancy rates.
The property is located in a densely amenitized Urban Core neighborhood that ranks 163rd among 1,441 metro neighborhoods with an overall A rating. The area demonstrates strong fundamentals for multifamily investors, with 64.8% of housing units occupied by renters—ranking in the 96th percentile nationally for rental tenure share. Neighborhood-level occupancy rates hold steady at 95.5%, supporting lease retention and absorption prospects.
Demographics within a 3-mile radius show a stable renter base of approximately 177,600 residents, with household incomes averaging $112,616. The area maintains high amenity density, ranking in the 78th percentile nationally with 6.07 grocery stores per square mile and robust restaurant and pharmacy access. Median contract rents have increased 30.8% over the past five years, while the current $2,137 median positions the neighborhood in the 93rd percentile nationally.
The 1985 construction year places this property within the neighborhood's average vintage of 1973, suggesting alignment with local building stock while potentially offering value-add opportunities through selective unit upgrades. Home values averaging $928,510 create elevated ownership costs that sustain rental demand, with a value-to-income ratio ranking in the 98th percentile nationally. This dynamic reinforces tenant retention and supports pricing power for well-positioned multifamily assets.
Forward-looking demographics indicate household growth of 30.8% projected through 2028, with median household incomes expected to rise to $107,645. The expanding renter pool, combined with limited ownership accessibility, supports long-term occupancy stability for rental properties in this Urban Core location.
The neighborhood's safety profile shows mixed indicators that require careful evaluation. Property crime rates rank 19th among 1,441 metro neighborhoods, placing the area in the 93rd percentile nationally for property crime safety. However, recent trends show property offense rates increased 148.6% year-over-year, ranking in the bottom 10% nationally for crime trend stability.
Violent crime rates remain more moderate, with the neighborhood ranking 237th among metro neighborhoods (71st percentile nationally). Investors should monitor these trends closely as part of ongoing asset management and consider how security measures might support tenant retention and property positioning within the broader Glendale market.
The property benefits from proximity to several major corporate employers that support workforce housing demand, including Fortune 500 headquarters and established entertainment industry offices within the greater Los Angeles market.
- Avery Dennison — materials science and manufacturing (0.4 miles) — HQ
- Disney — entertainment and media (3.7 miles) — HQ
- Radio Disney — broadcasting and media (4.7 miles)
- Charter Communications — telecommunications (5.5 miles)
- Live Nation Entertainment — entertainment services (6.3 miles)
This 23-unit property presents a stable cash flow opportunity within Glendale's Urban Core, where high renter tenure and elevated ownership costs create sustained multifamily demand. The 1985 vintage aligns with neighborhood norms while offering potential value-add opportunities through targeted unit improvements. According to CRE market data from WDSuite, the area's 95.5% occupancy rate and strong amenity access support tenant retention, while proximity to major employers including Avery Dennison headquarters provides workforce housing appeal.
Demographic projections show household growth of 30.8% through 2028, expanding the local renter pool as median incomes rise to $107,645. The neighborhood's 98th percentile value-to-income ratio reinforces rental demand by limiting ownership accessibility. However, investors should factor recent increases in property crime rates and ongoing capital planning needs typical of 1980s-era multifamily assets.
- Strong occupancy fundamentals with 95.5% neighborhood-level rates and 65% renter tenure
- Proximity to Fortune 500 headquarters and entertainment industry employers
- Projected 30.8% household growth through 2028 expanding tenant base
- Value-add potential through selective unit upgrades on 1985 vintage property
- Risk consideration: Recent property crime increases require ongoing security management