| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 68th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 120 W Chestnut St, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 33 |
| Transaction Date | 2004-02-27 |
| Transaction Price | $5,100,000 |
| Buyer | 120 Chestnut, Inc. |
| Seller | 120 West Chestnut LLC |
120 W Chestnut St Glendale Multifamily Investment
Positioned in Glendale’s Urban Core with steady renter demand, the neighborhood shows resilient occupancy and strong amenities, according to WDSuite’s CRE market data. Neighborhood-level metrics reflect local conditions and not property-specific performance.
The property is in Glendale’s Urban Core, where livability indicators are favorable for renters. Amenity access ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, with strong cafe, grocery, pharmacy, and restaurant density supporting daily convenience and potential lease retention. These are neighborhood signals, not property-level services.
Neighborhood occupancy has held in the mid-90% range and remains above national norms, based on CRE market data from WDSuite. Median asking rents have moved higher over the last cycle, while the neighborhood’s rent-to-income profile points to measured affordability pressure; operators should balance rent setting with retention to sustain performance.
Within a 3-mile radius, about seven in ten housing units are renter-occupied, indicating a deep tenant base for multifamily. Demographic trends within the same 3-mile radius show a modest population dip but a slight increase in total households and smaller average household sizes, a pattern that can expand the renter pool and support occupancy over time.
The average neighborhood vintage skews older than this 1986 asset, giving it a relative edge versus many nearby buildings; however, investors should still plan for system updates or targeted renovations to reinforce competitive positioning. Park access is limited in the immediate neighborhood, so residents may rely more on private amenities or destination recreation elsewhere in the metro.
Neighborhood safety indicators are comparatively favorable, landing in the top quartile nationally for lower violent and property offense rates, based on WDSuite’s CRE market data. These reflect broader neighborhood conditions rather than on-site security measures.
Recent trend data shows notable year-over-year declines in both violent and property offense estimates, suggesting an improving backdrop versus prior periods. As with most urban core locations in the Los Angeles metro, continued monitoring and standard operating practices remain prudent.
Nearby corporate offices across entertainment, technology, and corporate services support a diversified employment base and commute convenience for renters. The companies below are representative demand drivers in this part of Glendale and adjacent media/tech corridors.
- Avery Dennison — corporate offices (1.2 miles) — HQ
- Disney — entertainment corporate offices (4.1 miles) — HQ
- Radio Disney — entertainment corporate offices (5.0 miles)
- Live Nation Entertainment — entertainment corporate offices (5.7 miles)
- Microsoft — technology offices (6.0 miles)
120 W Chestnut St offers 33 units with larger average layouts around 1,090 sq ft, aligning with renter preferences for livable space in an amenity-rich Urban Core setting. Neighborhood occupancy has been steady in the mid-90% range, and a high share of renter-occupied housing within a 3-mile radius indicates depth in the tenant base. Built in 1986, the asset is newer than much of the surrounding stock and can benefit from selective modernization to strengthen rentability and retention.
Within 3 miles, households have inched higher despite modest population contraction, and projections call for additional household growth alongside rising incomes—factors that can support multifamily demand and leasing stability. According to CRE market data from WDSuite, neighborhood rent levels have advanced over the last cycle, while rent-to-income signals suggest operators should calibrate pricing to sustain occupancy through varying market conditions.
- Urban Core location with top-quartile amenity access that supports renter convenience and lease retention
- Mid-90% neighborhood occupancy and a large renter-occupied housing base point to stable demand
- 1986 vintage is newer than much of the area; targeted upgrades can reinforce competitive positioning
- Risks: limited neighborhood park access, flat-to-down population trends, and typical urban-core exposure to cyclical employment