| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1111 E Lexington Dr, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 2006-11-27 |
| Transaction Price | $4,025,000 |
| Buyer | CARVAJAL LUIS S |
| Seller | FOUNDATION OF THE ZOOLOGICAL SOCIETY OF |
1111 E Lexington Dr Glendale Multifamily Opportunity
Neighborhood-level data points to a deep renter base and a high-cost ownership market that supports sustained apartment demand, according to WDSuite’s CRE market data. Investors should view this location as benefiting from renter concentration and strong daily-needs amenities that underpin leasing durability.
The property sits in Glendale’s Urban Core, where daily-needs access is a clear strength. Neighborhood amenity density places in the top quartile nationally, with strong coverage of groceries, pharmacies, cafes, restaurants, and parks. This concentration is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 66 out of 1,441), supporting convenience-driven resident retention and day-to-day livability.
For investors, the tenancy profile is a key positive: the neighborhood s share of renter-occupied housing units is high (above the 90th percentile nationally). That renter concentration indicates a broad tenant base and stable demand for multifamily, though it also calls for disciplined lease management to maintain occupancy.
Within a 3-mile radius, demographics show households have edged up even as total population softened slightly, implying smaller household sizes and a steady renter pool over time. Forward-looking estimates indicate additional household growth, which typically supports occupancy stability and renewal potential in workforce and mid-market product.
Ownership costs in the surrounding neighborhood are elevated relative to incomes (value-to-income measures sit near the top of national percentiles), which generally sustains reliance on rentals and can support pricing power. Median contract rents run high for the region, reinforcing the need to balance rent-to-income levels with retention-focused strategies.
Performance signals are mixed: neighborhood NOI per unit ranks strong nationally, yet occupancy trends sit closer to the national midpoint. Together, these factors suggest income potential remains competitive while proactive leasing and renewal execution will be important to limit downtime. All occupancy and NOI references are measured at the neighborhood level, not the property.
Comparable neighborhood-level crime statistics were not available in this dataset. Investors typically benchmark safety by reviewing recent city and police reports, touring at different times of day, and comparing submarket trends to the broader Los Angeles-Long Beach-Glendale metro. Use consistent, like-for-like sources when underwriting to ensure a fair comparison across neighborhoods.
Proximity to major employers supports commuter convenience and a durable renter base, with concentrations in entertainment, media, and corporate services reflected in the nearby employment nodes shown below.
- Avery Dennison — packaging & labeling (0.92 miles) — HQ
- Disney — entertainment (4.79 miles) — HQ
- Radio Disney — media (5.74 miles)
- Charter Communications — telecommunications (6.75 miles)
- Live Nation Entertainment — live entertainment (6.83 miles)
This Glendale location combines a deep renter pool with high amenity access, supporting tenant retention and day-to-day livability. Elevated home values relative to incomes bolster reliance on rentals, while neighborhood NOI per unit ranks strong versus national benchmarks. According to CRE market data from WDSuite, occupancy at the neighborhood level trends closer to the national midpoint, suggesting the asset should benefit from demand depth but will reward hands-on leasing and renewal strategy.
Within a 3-mile radius, households are trending upward despite softer population totals, pointing to smaller household sizes and a steady renter base. Nearby employment centers in entertainment and corporate services further reinforce leasing stability for well-managed, mid-size assets.
- Deep renter-occupied housing presence supports a broad tenant base and renewal potential.
- High amenity density (groceries, pharmacies, dining, parks) underpins livability and retention.
- Elevated ownership costs relative to incomes reinforce sustained rental demand and pricing power.
- Commuter access to nearby entertainment and corporate employers supports leasing stability.
- Risk: Neighborhood occupancy trends near the national midpoint; proactive leasing and renewal management remain important.