| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 38th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1060 Elm Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2003-07-16 |
| Transaction Price | $2,400,000 |
| Buyer | SIKDER FAMILY TRUST |
| Seller | PALM DELUXE PARTNERS LP |
1060 Elm Ave Glendale 20-Unit Value-Add Opportunity
Renter demand is deep in Glendale with neighborhood occupancy trending strong and a high share of renter-occupied units according to WDSuite s CRE market data. Stabilized operations with modernization potential position this asset for steady performance in an urban core setting.
The property sits in an Urban Core pocket of Glendale where neighborhood occupancy is above national norms and renter concentration is high, supporting a broad tenant base. Amenity access is a relative strength: the area ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for overall amenities, with cafe and grocery densities comparing in the top decile nationally. These factors underpin leasing velocity and day-to-day convenience for residents.
Within a 3-mile radius, population remains broadly stable while total households have increased, indicating smaller household sizes and a gradual expansion of the renter pool. This dynamic typically supports occupancy stability and provides depth for one- and two-bedroom demand. Based on CRE market data from WDSuite, neighborhood rent levels have moved higher over the past five years and are projected to continue rising, reinforcing the case for disciplined revenue management.
Home values in the immediate area are elevated relative to national levels, creating a high-cost ownership market that tends to sustain reliance on multifamily rentals. For investors, this often translates to stronger lease retention and pricing power where units are well-maintained.
The neighborhood s average construction year skews older than the subject (1960s vs. the property s 1977 vintage), which can help a renovated 1970s asset compete against legacy stock. Notably, park access is limited locally, which may weigh on lifestyle appeal for some renters; however, the dense mix of cafes, groceries, and services offsets some of that constraint for urban-oriented households.
Safety indicators compare modestly favorable versus national benchmarks: violent and property offense measures land above the national median (higher percentile indicates safer), while overall crime levels are roughly around the metro middle. According to WDSuite s CRE market data, year-over-year property offense trends have ticked up locally, so investors should track management practices and neighborhood trendlines as part of ongoing risk monitoring.
Proximity to major studios, corporate headquarters, and communications firms supports a diverse employment base and commute convenience for renters. Key nearby employers include Disney, Avery Dennison, Radio Disney, Charter Communications, and Live Nation Entertainment.
- Disney entertainment & studios (2.1 miles) HQ
- Avery Dennison packaging & materials (2.6 miles) HQ
- Radio Disney media (3.0 miles)
- Charter Communications telecom (3.3 miles)
- Live Nation Entertainment entertainment (5.8 miles)
Built in 1977, the property offers a clear value-add path through systems updates and targeted interior renovations that can enhance competitive positioning against older neighborhood stock. Neighborhood occupancy is strong and renter-occupied share is high, supporting leasing stability, while elevated local home values reinforce reliance on multifamily housing. According to CRE market data from WDSuite, rents have trended upward with further increases projected, suggesting scope for disciplined revenue management where unit quality supports pricing.
The 3-mile area shows stable population with more households and smaller household sizes, a pattern that typically expands the renter base for mid-size units. Amenity density is a further tailwind, though limited park access and signs of recent property crime fluctuation warrant prudent on-site security and resident engagement strategies.
- 1977 vintage supports value-add through modernization to outperform older local stock
- Strong neighborhood occupancy and high renter concentration support leasing stability
- Elevated ownership costs in Glendale sustain renter demand and potential pricing power
- Dense cafe and grocery access enhances livability and helps retention
- Risks: limited park access and recent property crime uptick call for active management