| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 38th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1051 Justin Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 30 |
| Transaction Date | 2012-07-06 |
| Transaction Price | $6,200,062 |
| Buyer | GGF LLC |
| Seller | CMC ASSET INVESTMENTS INC |
1051 Justin Ave Glendale Multifamily Investment
Neighborhood fundamentals signal durable renter demand and above-average occupancy, according to WDSuite’s CRE market data. These metrics reflect the surrounding neighborhood, not the property’s own performance.
Located in Glendale’s Urban Core, the area offers strong daily convenience for renters, with dense retail and services nearby. Cafes and grocery access rank among the metro’s most competitive options, and overall amenities place the neighborhood in the top quartile nationally, supporting leasing velocity and retention.
Neighborhood multifamily occupancy is above the metro median and in the top quintile nationally, indicating a stable leasing environment; this refers to neighborhood occupancy, not the subject property. Against the Los Angeles-Long Beach-Glendale metro’s 1,441 neighborhoods, the area’s occupancy position is competitive for long-term hold strategies and helps mitigate downtime between turns.
Within a 3-mile radius, the renter-occupied share is substantial, providing a deep tenant base for a 30-unit asset. Household counts have been rising and are projected to increase further even as average household size trends lower, which typically expands the pool of potential renters and supports occupancy stability. In a high-cost ownership market, elevated home values reinforce reliance on multifamily rentals, which can support pricing power; investors should manage affordability pressure to balance lease trade-outs and retention as part of their commercial real estate analysis.
The property’s 1987 vintage is newer than the neighborhood’s older housing stock (average 1961), which can offer competitive positioning versus legacy assets. At the same time, systems and finishes may benefit from targeted modernization, creating potential value-add upside through selective renovations and improved operational efficiency.
Relative to neighborhoods nationwide, safety indicators are generally above average: violent and property offense rates sit in higher national percentiles (safer) while overall crime levels track roughly around the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods. This mix suggests a setting that is competitive among Los Angeles metro neighborhoods from a safety standpoint.
Recent data indicate an uptick in property offenses, so prudent measures such as lighting, access control, and visible property management presence can help sustain renter confidence and support leasing stability over the hold period.
Nearby corporate anchors in packaging, entertainment, and telecommunications support a broad white-collar employment base and commute convenience, which can aid renter demand and retention. The following employers represent the closest concentrations likely to influence leasing.
- Avery Dennison — packaging & materials (2.0 miles) — HQ
- Disney — entertainment studios & offices (2.3 miles) — HQ
- Radio Disney — entertainment offices (3.2 miles)
- Charter Communications — telecommunications (3.8 miles)
- Live Nation Entertainment — entertainment & ticketing (5.7 miles)
This 30-unit, 1987-vintage asset benefits from a renter-oriented Glendale location where neighborhood occupancy trends are above the metro median and in the top quintile nationally, supporting income durability. Elevated for-sale home values in the area sustain reliance on rentals, while a substantial 3-mile renter concentration and growing household counts point to a larger tenant base over time. The vintage is newer than much of the surrounding stock, with potential to enhance competitiveness through selective renovations and operational upgrades.
Based on CRE market data from WDSuite, amenity access and commute-friendly job nodes help underpin renter demand, though investors should plan for affordability pressure management and routine security best practices given recent property offense trends. Overall, the location fundamentals and value-add potential present a balanced case for durable operations with targeted upside.
- Neighborhood occupancy above metro median supports stability (neighborhood metric, not property)
- High-cost ownership market reinforces renter reliance and pricing power potential
- 1987 vintage newer than local average, enabling targeted value-add upgrades
- Proximity to major employers supports leasing and retention
- Risks: affordability pressure and recent property offense uptick warrant proactive management