| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 E California Ave, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2001-03-20 |
| Transaction Price | $500,000 |
| Buyer | GLENDALE MK LLC |
| Seller | JUNG WILLIAM |
1120 E California Ave Glendale Multifamily Investment
This 20-unit property benefits from strong renter demand in a neighborhood where 71% of housing units are renter-occupied, ranking in the top quartile nationally. Commercial real estate analysis indicates the area's high amenity density and proximity to major employers support tenant retention fundamentals.
The Glendale neighborhood ranks 175th among 1,441 metro neighborhoods with an A rating, placing it in the top 15% regionally. Built in 1973, this property aligns with the area's average construction year of 1974, suggesting consistent building stock that may offer value-add renovation opportunities for modernization and rent optimization.
Renter demand fundamentals remain strong, with 71% of housing units renter-occupied compared to typical ownership-heavy suburban markets. The neighborhood's median contract rent of $1,943 reflects a 40% increase over five years, while occupancy rates of 88.8% indicate stable absorption despite some recent softening. Demographics within a 3-mile radius show a mature renter base with 25% of residents aged 18-34 and average household income of $89,027.
Amenity density supports tenant appeal, with the area ranking in the 95th percentile nationally for cafes, pharmacies, and childcare facilities per square mile. Grocery store access ranks in the 98th percentile nationally, while restaurant density places in the 97th percentile, creating walkable convenience that appeals to urban renters. Home values averaging $685,042 with a 63% five-year appreciation reinforce rental demand as elevated ownership costs keep households in the multifamily market.
Forward-looking demographics project household income growth of 36% over the next five years, with median household income expected to reach $121,071 by 2028. The forecast shows renter-occupied units expanding to 60% of total housing stock, indicating sustained multifamily demand. However, rent-to-income ratios at 34% suggest affordability pressures that warrant careful lease management and retention strategies.
Comprehensive crime data for this neighborhood is not currently available in the market dataset. Investors should conduct independent due diligence on local safety conditions through municipal police reports, neighborhood crime statistics, and on-site property inspections when evaluating security considerations for tenant appeal and insurance planning.
The area benefits from proximity to major corporate headquarters and offices that provide employment stability for the local renter base. Notable employers within reasonable commuting distance include Avery Dennison's headquarters and Disney's corporate operations.
- Avery Dennison — materials science and manufacturing (1.0 miles) — HQ
- Disney — entertainment and media (4.9 miles) — HQ
- Radio Disney — broadcasting and media (5.8 miles)
- Microsoft — technology and software (6.7 miles)
- Live Nation Entertainment — entertainment services (6.8 miles)
This 1973-vintage property operates in a neighborhood with fundamentally strong multifamily dynamics, where 71% renter occupancy ranks in the 97th percentile nationally and provides deep tenant demand. The area's A-rated neighborhood status and top-quartile amenity access support tenant retention, while proximity to major employers like Avery Dennison headquarters creates workforce housing appeal. CRE market data from WDSuite indicates median rents have grown 40% over five years, though current occupancy of 88.8% reflects some market normalization that requires active management.
The property's 1973 construction year offers potential value-add opportunities through unit renovations and common area improvements to capture rent premiums in a market where home values averaging $685,042 reinforce rental demand. Demographic projections within 3 miles show household income growth of 36% through 2028, expanding the qualified renter pool, though rent-to-income ratios at 34% suggest monitoring affordability pressures during lease renewals.
- Strong renter demand with 71% occupancy rate ranking 97th percentile nationally
- Value-add potential through renovations given 1973 vintage and rent growth trends
- Proximity to major employers including Avery Dennison HQ supports workforce housing demand
- High amenity density ranks in top 5% nationally for tenant appeal and retention
- Risk consideration: Rent-to-income ratios at 34% require careful lease management strategies