| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1145 N Columbus Ave, Glendale, CA, 91202, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 23 |
| Transaction Date | 2001-01-24 |
| Transaction Price | $105,000 |
| Buyer | SIMONIAN EDWARD T |
| Seller | VART DEVELOPMENT |
1145 N Columbus Ave Glendale Multifamily Investment
This 23-unit property built in 1987 sits in a neighborhood ranking in the top quartile nationally for housing metrics, with neighborhood-level occupancy at 95.5% and strong renter demand at 64.8% of units being renter-occupied.
Located in Glendale's urban core, this neighborhood ranks 163rd among 1,441 Los Angeles metro neighborhoods and earns an "A" rating. The area demonstrates strong fundamentals with 64.8% of housing units being renter-occupied, ranking in the 96th percentile nationally and supporting consistent rental demand. Neighborhood-level occupancy stands at 95.5%, indicating stable tenant retention and absorption rates.
The property's 1987 construction year aligns with the neighborhood average of 1973, positioning it for potential value-add opportunities through targeted capital improvements. Median contract rents in the neighborhood reach $2,137, ranking in the 93rd percentile nationally, while maintaining affordability relative to the $81,990 median household income within a 3-mile radius.
Demographics within a 3-mile radius show 177,814 residents with household growth projected at 30.8% through 2028, expanding the potential tenant base. The area benefits from exceptional amenity density, ranking in the 78th percentile nationally, with 6.07 grocery stores per square mile and strong restaurant and pharmacy access. Schools average 3.66 out of 5 stars, ranking in the 75th percentile nationally and supporting family-oriented tenant appeal.
Home values averaging $928,510 reinforce rental demand by keeping homeownership costs elevated relative to renting options. This dynamic supports tenant retention and lease renewal rates, though investors should monitor rent-to-income ratios which currently indicate some affordability pressure at neighborhood levels.
The neighborhood's crime profile shows mixed trends that warrant monitoring. Property crime rates rank 19th among 1,441 metro neighborhoods, placing it in the 93rd percentile nationally for low property crime. However, recent data indicates property crime increased 148.6% year-over-year, ranking 1,359th of 1,441 neighborhoods for this change metric.
Violent crime rates remain relatively contained at 9.31 incidents per 100,000 residents, ranking in the 71st percentile nationally. Similar to property crime, violent incidents showed a significant 343.1% increase year-over-year. These crime trend changes may reflect reporting adjustments or temporary fluctuations, but investors should factor ongoing security considerations into property management and tenant retention strategies.
The property benefits from proximity to major corporate headquarters and offices, supporting workforce housing demand and commute convenience for professional tenants.
- Avery Dennison — adhesive materials and labeling (0.5 miles) — HQ
- Disney — entertainment and media (3.6 miles) — HQ
- Radio Disney — broadcasting services (4.6 miles)
- Charter Communications — telecommunications (5.3 miles)
- Live Nation Entertainment — entertainment services (6.3 miles)
This 23-unit property presents a stable cash flow opportunity in a high-performing Glendale neighborhood. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for housing fundamentals, with neighborhood-level occupancy at 95.5% and strong renter demand evidenced by 64.8% of units being renter-occupied. The 1987 construction year offers value-add potential through strategic renovations while benefiting from proximity to major employers including Avery Dennison headquarters just 0.5 miles away.
Demographic projections within a 3-mile radius show household growth of 30.8% through 2028, expanding the tenant pool and supporting absorption of renovated units at higher rents. Median household income of $81,990 provides adequate rent coverage, though the current rent-to-income ratio suggests careful lease management will optimize renewals and minimize turnover costs.
- Neighborhood ranks top quartile nationally for housing metrics with 95.5% occupancy
- Strong renter demand with 64.8% of area units being renter-occupied
- Value-add opportunity through 1987 vintage property improvements
- Projected 30.8% household growth through 2028 supports tenant demand
- Risk: Recent crime trend increases require ongoing security monitoring