| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 51st | Fair |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1119 Allen Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1988 |
| Units | 26 |
| Transaction Date | 1998-11-18 |
| Transaction Price | $2,875,000 |
| Buyer | PARKS ROBERT M |
| Seller | AVEDIAN VAHAN A AND VERJICK TRS |
1119 Allen Ave Glendale Multifamily Investment Outlook
High renter concentration and strong amenity access in the surrounding neighborhood point to durable demand and leasing depth, according to WDSuite’s CRE market data. Occupancy in the neighborhood has been resilient, supporting stable operations for well-managed assets.
Situated in Glendale’s Urban Core, the property benefits from a neighborhood rated A and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (161 of 1,441). Amenity density is a standout: cafes and grocery options rank among the highest nationally, with restaurants, pharmacies, and parks also in the top quartile nationwide. This concentration of daily-needs retail supports renter convenience and year-round foot traffic.
Neighborhood occupancy is above the national median, suggesting a stable leasing environment rather than a peak-cycle spike. Median contract rents in the neighborhood track well above national norms, while value-to-income ratios and elevated home values indicate a high-cost ownership market that tends to reinforce reliance on multifamily rentals and support pricing power for competitive units.
The building’s 1988 vintage is newer than the neighborhood’s average construction year (1976). For investors, this typically means relatively stronger competitive positioning versus older stock, with potential to capture premiums through targeted modernization of interiors and common areas as systems age.
Renter-occupied housing share in the neighborhood is among the highest nationally, indicating a deep tenant base and steady turnover for multifamily operators. Within a 3-mile radius, households have grown over the last five years and are projected to expand further even as average household size trends down, which can translate into a larger renter pool and support for occupancy stability. School quality trends hover modestly above national medians, adding balance to the family-oriented segment of demand.
Detailed crime metrics for this neighborhood are not available in the provided dataset. For CRE decision-making, investors typically benchmark neighborhood safety against city and metro trends and incorporate on-the-ground diligence (lighting, access control, visibility, and property management practices) rather than relying on block-level claims. This urban-core location should be assessed comparatively to similar Los Angeles subareas and daypart activity patterns.
Proximity to major corporate employers supports commuter convenience and broad-based renter demand, particularly for media, communications, and corporate services talent. Nearby anchors include Disney, Avery Dennison, Radio Disney, Charter Communications, and Live Nation Entertainment.
- Disney — entertainment & media (2.2 miles) — HQ
- Avery Dennison — materials & corporate services (2.4 miles) — HQ
- Radio Disney — media offices (3.2 miles)
- Charter Communications — cable & telecom offices (3.4 miles)
- Live Nation Entertainment — entertainment offices (5.8 miles)
1119 Allen Ave offers a scale-efficient 26-unit footprint in a renter-heavy, amenity-rich pocket of Glendale. Neighborhood occupancy trends sit above national medians, and elevated ownership costs in the area help sustain reliance on rentals, supporting pricing power for well-maintained, well-located assets. Based on CRE market data from WDSuite, the submarket’s strong café, grocery, and services access is top quartile nationally, reinforcing daily-life convenience that underpins retention.
Built in 1988, the asset is newer than the local average vintage, positioning it competitively versus older stock while leaving room for targeted value-add through modernization and common-area enhancements. Within a 3-mile radius, household growth and a shift toward smaller household sizes point to renter pool expansion, balanced by above-median rents that call for disciplined lease management.
- Deep renter base and stable neighborhood occupancy support ongoing leasing
- Amenity-rich location (top-quartile daily needs access) aids retention and rent achievement
- 1988 vintage offers competitive positioning with value-add modernization potential
- High-cost ownership market reinforces multifamily demand and pricing power
- Risk: elevated rent-to-income dynamics require careful affordability and renewal management