| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 51st | Fair |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1133 Justin Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1973 |
| Units | 54 |
| Transaction Date | 2019-05-08 |
| Transaction Price | $21,510,000 |
| Buyer | RAINTREE GLENDALE LLC |
| Seller | HEATHER RIDGE LIMITED PARTNERSHIP |
1133 Justin Ave Glendale Multifamily Investment
Positioned in an amenity-dense Urban Core pocket of Glendale, this 54-unit asset benefits from a deep renter base and neighborhood occupancy that trends above national averages, according to WDSuite’s CRE market data. The location supports stable leasing while offering potential to enhance income via targeted renovations.
The property sits in a Glendale Urban Core neighborhood rated A and ranked 161 among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, indicating it is competitive among Los Angeles-Long Beach-Glendale, CA neighborhoods. Amenity access is a clear strength: the area scores in the top quartile nationally for overall amenities and is especially strong for daily-needs convenience with groceries and pharmacies at very high national percentiles. That concentration typically supports leasing velocity and day-to-day resident satisfaction.
Vintage is 1973 versus a neighborhood average of 1976. The slightly older profile suggests planning for system upgrades and common-area refreshes; it also creates value-add potential where modern finishes and energy-efficiency improvements can differentiate against older stock.
Renter concentration is a defining feature: a very high share of neighborhood housing units are renter-occupied (ranked 50 out of 1,441 in the metro), signaling a deep tenant pool for multifamily operators and reinforcing demand across economic cycles. Neighborhood occupancy rates are above the national midpoint, supporting expectations for steady collections when pricing is aligned to local incomes.
Demographic statistics aggregated within a 3-mile radius indicate a stable population with a recent increase in total households and a trend toward smaller household sizes. Looking ahead, projections show a modest decline in population but continued growth in household counts, which expands the renter pool and can support occupancy stability even as unit mix and leasing strategy adapt to smaller households. Median contract rents in the radius have risen over the past five years and are projected to continue growing, consistent with broader commercial real estate analysis trends for supply-constrained Los Angeles submarkets.
Home values in the neighborhood sit at a high national percentile, and the local value-to-income ratio is elevated. In high-cost ownership markets like this, many households remain renters longer, which can underpin depth of demand and lease retention for well-managed multifamily communities.
Comparable neighborhood safety metrics are not available in this dataset. Investors typically benchmark localized trends against the broader Los Angeles-Long Beach-Glendale metro and adjacent Glendale districts to understand relative conditions and trajectory. On-the-ground diligence and third-party data can complement underwriting assumptions without relying on block-level conclusions.
Nearby corporate offices anchor a diverse employment base and support renter demand through short commutes, notably in materials, media, and communications. The employers below reflect the most proximate drivers residents may commute to daily.
- Avery Dennison — materials & labeling (2.0 miles) — HQ
- Disney — entertainment studios & media (2.4 miles) — HQ
- Radio Disney — media (3.4 miles)
- Charter Communications — telecommunications (3.8 miles)
- Live Nation Entertainment — live entertainment offices (5.8 miles)
1133 Justin Ave offers a scale opportunity in a high-amenity Glendale enclave where renter-occupied housing is prevalent and neighborhood occupancy trends sit above national norms. The combination of an A-rated Urban Core location, abundant daily conveniences, and proximity to major employers supports durable leasing and pricing power relative to broader Los Angeles performance, based on CRE market data from WDSuite.
Built in 1973, the asset may benefit from targeted capital improvements to interiors and building systems, positioning it competitively against nearby stock while capturing value-add upside. High ownership costs in the area reinforce reliance on multifamily housing, deepening the tenant base; at the same time, elevated rent-to-income ratios warrant thoughtful lease management and renewal strategies to sustain retention.
- Amenity-rich Urban Core location with top-tier access to groceries, pharmacies, cafes, and restaurants supporting leasing velocity.
- Deep renter pool and neighborhood occupancy above national midpoint underpin income stability.
- 1973 vintage presents clear value-add levers via interior updates and system modernization.
- High-cost ownership market supports multifamily demand; monitor rent-to-income pressure as a retention risk.