| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1234 E California Ave, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 49 |
| Transaction Date | 2014-05-01 |
| Transaction Price | $15,485,154 |
| Buyer | SIROTT STANLEY A |
| Seller | VILLA MONACO LTD |
1234 E California Ave Glendale 49-Unit Multifamily
Positioned in an amenity-rich Urban Core pocket of Glendale, this 49-unit asset benefits from deep renter demand and competitive positioning versus older stock, according to CRE market data from WDSuite.
The property sits in a high-amenity corridor of Glendale where grocery, dining, pharmacies, and childcare are dense by national standards (each in the mid- to high-90s national percentiles). Within the Los Angeles-Long Beach-Glendale metro, the neighborhood ranks 175 out of 1,441 overall — a top-quartile position that signals competitive fundamentals rather than a speculative bet.
Vintage matters: built in 1987, the asset is newer than the neighborhood’s average 1974 construction year. For investors, that typically translates to fewer near-term capital needs than 1960s–1970s product while still offering selective value-add and systems modernization opportunities to sharpen competitiveness.
Renter depth is a defining feature. The neighborhood’s renter-occupied share is high (around seven in ten units; 97th percentile nationally), which supports a broad tenant base for multifamily. At the same time, neighborhood occupancy is 88.8% and has eased over five years, so underwriting should assume steady leasing efforts rather than automatic lease-up.
Within a 3-mile radius, households have grown modestly and are projected to expand further as average household size trends lower. Even with flat-to-soft population trajectories, a rising household count points to a larger tenant base and supports occupancy stability. Median home values are elevated for the region, which typically sustains reliance on rental housing; however, a rent-to-income ratio near one-third suggests some affordability pressure that calls for thoughtful lease management and renewal strategies.
Schools in the area rate around the national middle, which is consistent with many infill Los Angeles sub-neighborhoods. Amenity access and employment proximity are the primary demand drivers here, not school-led migration.
Neighborhood-level crime metrics are not available in the current WDSuite dataset for this location. Investors should compare local public safety reports and citywide trends for Glendale and the broader Los Angeles metro to contextualize on-the-ground risk and align property operations (lighting, access control, and staffing) with tenant expectations.
Proximity to major corporate offices underpins weekday traffic and supports multifamily renter demand via short commutes to Avery Dennison, Disney, Radio Disney, Microsoft, and Reliance Steel & Aluminum.
- Avery Dennison — materials & manufacturing (1.2 miles) — HQ
- Disney — media & entertainment (5.0 miles) — HQ
- Radio Disney — media (5.9 miles)
- Microsoft — technology offices (6.7 miles)
- Reliance Steel & Aluminum — metals distribution (6.8 miles) — HQ
This 1987-vintage, 49-unit asset offers a balanced infill thesis: strong neighborhood standing (top quartile among 1,441 metro neighborhoods), dense amenities, and a high renter concentration that supports a durable tenant base. Neighborhood-level NOI per unit trends screen favorably versus the metro, and elevated ownership costs locally tend to sustain multifamily demand. Based on CRE market data from WDSuite, occupancy at the neighborhood level has softened, so operations should prioritize consistent leasing and renewals rather than relying on momentum alone.
Forward-looking drivers include projected growth in households within a 3-mile radius and a gradual shift toward smaller household sizes, both of which expand the renter pool even if population growth is muted. Given its newer-than-average vintage for the area, the property can compete with older stock while still offering targeted value-add and modernization to enhance rent positioning and retention.
- Amenity-rich Urban Core location with top-quartile neighborhood ranking in the Los Angeles-Long Beach-Glendale metro.
- High renter-occupied concentration supports tenant base depth and leasing resilience.
- 1987 construction offers competitive positioning versus older local stock with focused value-add upside.
- Neighborhood-level NOI per unit screens strong relative to metro trends, supporting income durability.
- Risks: neighborhood occupancy has eased and rent-to-income indicates affordability pressure, requiring active lease and renewal management.