| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1304 E California Ave, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 2014-05-03 |
| Transaction Price | $9,250,092 |
| Buyer | SIROTT STANLEY A |
| Seller | GLENDALE VILLA GENEVA |
1304 E California Ave Glendale Multifamily Investment
This 36-unit property built in 1988 is positioned in a neighborhood with 71.2% renter occupancy and strong amenity density. CRE market data from WDSuite shows the area ranks in the 95th percentile nationally for access to essential services.
The neighborhood surrounding 1304 E California Ave ranks in the top quartile nationally for amenities among 1,441 metro neighborhoods, with exceptional access to essential services including 6.95 grocery stores per square mile and 3.47 childcare facilities per square mile. This amenity density supports tenant retention and appeals to families, with demographic data aggregated within a 3-mile radius showing 17% of the population under 18 years old.
With 71.2% of housing units occupied by renters, this neighborhood demonstrates strong rental demand that ranks in the 97th percentile nationally. Current median contract rent of $1,943 has increased 40.1% over the past five years, while neighborhood occupancy stands at 88.8%. The property's 1988 construction year positions it for potential value-add opportunities, as the neighborhood average construction year is 1974.
Demographics within a 3-mile radius show a median household income of $89,651 with strong growth momentum - income has increased 40.8% over five years. The area maintains 66.8% renter-occupied units, supporting sustained rental demand. Forward-looking projections indicate household growth of 31.3% through 2028, expanding the potential tenant base while median rent is forecast to reach $2,629.
Safety data for this specific neighborhood was not available in the current dataset. Investors should conduct independent due diligence on local crime trends and consider factors such as proximity to emergency services, lighting, and neighborhood watch programs when evaluating this property's risk profile.
The property benefits from proximity to major corporate offices including Avery Dennison's headquarters and Disney's corporate presence, providing workforce housing opportunities for employees seeking convenient commutes.
- Avery Dennison — corporate offices (1.2 miles) — HQ
- Disney — corporate offices (5.1 miles) — HQ
- Radio Disney — corporate offices (6.0 miles)
- Microsoft — corporate offices (6.7 miles)
- Reliance Steel & Aluminum — corporate offices (6.8 miles) — HQ
This 36-unit property capitalizes on Glendale's strong rental fundamentals, with 71.2% of neighborhood housing units occupied by renters and median rents increasing 40.1% over five years. Built in 1988, the property offers value-add potential in a market where average construction dates to 1974. Commercial real estate analysis from WDSuite indicates the neighborhood ranks in the 89th percentile nationally for net operating income per unit at $12,210.
Demographics within a 3-mile radius support long-term demand, with household growth projected at 31.3% through 2028 and median household income rising 40.8% over the past five years. The location's exceptional amenity access - ranking 95th percentile nationally - enhances tenant appeal and retention prospects.
- Strong rental market with 71.2% renter occupancy and 40.1% rent growth over five years
- Value-add opportunity with 1988 construction in neighborhood averaging 1974 vintage
- Projected 31.3% household growth through 2028 expanding tenant base
- Proximity to major employers including Avery Dennison headquarters
- Risk: Occupancy at 88.8% below some metro benchmarks, requiring active lease management