| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1137 N Central Ave, Glendale, CA, 91202, US |
| Region / Metro | Glendale |
| Year of Construction | 2003 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1137 N Central Ave Glendale Multifamily Investment
This 75-unit property built in 2003 sits in a neighborhood with 95.5% occupancy and strong rental demand fundamentals. Commercial real estate analysis from WDSuite indicates the area ranks in the top quartile nationally for housing metrics among 1,441 metro neighborhoods.
The property occupies a well-established Glendale neighborhood that demonstrates strong rental market fundamentals. With neighborhood-level occupancy at 95.5% and 64.8% of housing units renter-occupied, the area maintains consistent tenant demand. Median contract rent of $2,137 reflects the market's ability to support higher rental rates, while the 30.8% five-year rent growth indicates sustained pricing power.
Demographics within a 3-mile radius show a stable tenant base, with 175,852 residents and household incomes averaging $113,066. The area attracts educated renters, with 29.5% of adults holding bachelor's degrees - ranking in the 83rd percentile nationally. Forecasted household growth of 31% through 2028 suggests expanding rental demand, while projected median household income increases to $109,285 support rent escalation potential.
Built in 2003, this property aligns with the neighborhood's average construction year of 1973, positioning it as newer stock that may require less immediate capital expenditure. The area ranks in the top quartile nationally for amenity access, with high densities of grocery stores, pharmacies, and restaurants that enhance tenant retention appeal. However, investors should note the lack of parks within the immediate area, which may limit some tenant segments.
The neighborhood's A-rating reflects its 83rd percentile ranking for housing fundamentals among metro neighborhoods. Strong NOI per unit averages of $11,457 rank in the 86th percentile nationally, indicating healthy cash flow potential. The rent-to-income ratio of 0.33 suggests affordability pressures that require careful lease management, particularly given elevated home values that keep many households in the rental market.
The neighborhood demonstrates mixed safety trends that warrant investor attention. While violent crime rates rank in the 71st percentile nationally - indicating relatively low violent crime compared to other neighborhoods nationwide - property crime presents a more complex picture. The area ranks 19th out of 1,441 metro neighborhoods for property offense rates, placing it in the 93rd percentile nationally for property crime safety.
However, recent crime trend data shows significant increases in both property and violent offense rates over the past year, with changes of 148.6% and 343.1% respectively. These metrics rank in the bottom 10th percentile nationally for crime trend stability. Investors should factor these evolving safety dynamics into tenant retention strategies and consider security enhancements that may support leasing velocity and renewal rates in this otherwise strong rental market.
The property benefits from proximity to major corporate employers that support consistent workforce housing demand, including Avery Dennison's headquarters less than half a mile away and Disney's corporate presence within the greater Los Angeles market.
- Avery Dennison — materials science and manufacturing — 0.4 miles — HQ
- Disney — entertainment and media — 3.9 miles — HQ
- Radio Disney — media and broadcasting — 4.8 miles
- Charter Communications — telecommunications — 5.6 miles
- Live Nation Entertainment — entertainment services — 6.5 miles
This 75-unit property presents a compelling investment opportunity anchored by strong neighborhood fundamentals and demographic stability. The 95.5% occupancy rate and $2,137 median rent demonstrate consistent demand in a market where 64.8% of housing units serve renters. According to CRE market data from WDSuite, the area's A-rating reflects top-quartile national performance for housing metrics, while NOI per unit averages in the 86th percentile nationally support healthy cash flow expectations.
The 2003 construction year positions the asset as newer stock relative to the neighborhood average, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. Projected household growth of 31% through 2028 within the 3-mile radius, combined with forecast median income increases to $109,285, suggests sustained rental demand and rent escalation potential. However, investors should monitor the rent-to-income ratio of 0.33 and recent crime trend increases that may impact tenant retention and require proactive management strategies.
- Strong occupancy fundamentals with 95.5% neighborhood-level occupancy and consistent rental demand
- Top-quartile national ranking for housing metrics and 86th percentile NOI performance
- Projected 31% household growth through 2028 supporting expanding tenant base
- Newer 2003 vintage reduces immediate capital expenditure requirements
- Risk consideration: Recent crime trend increases and affordability pressures require active management