| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 70th | Good |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1551 E Chevy Chase Dr, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 2008 |
| Units | 98 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1551 E Chevy Chase Dr Glendale Multifamily Investment
2008-built, mid-size asset in a high-income, renter-heavy pocket that supports durable tenancy; according to WDSuite’s CRE market data, neighborhood rents track in a higher national tier while rent-to-income levels suggest manageable retention risk.
Positioned in Glendale’s Urban Core, the property benefits from neighborhood fundamentals that are competitive for Los Angeles-Long Beach-Glendale investors. Neighborhood rents sit in the 92nd percentile nationally while net operating income per unit trends in the 89th percentile, according to CRE market data from WDSuite, signaling pricing power potential relative to many U.S. locations. At the same time, the neighborhood’s occupancy rate is near the national midpoint, reinforcing the importance of asset quality and operations to capture demand.
Renter concentration is elevated at the neighborhood level (renter-occupied share in the 85th percentile nationally), indicating a deep tenant base for multifamily. Median home values are in the 99th percentile nationally with a high value-to-income ratio, a hallmark of a high-cost ownership market that tends to sustain reliance on rental housing and support leasing stability for well-run assets.
Daily needs are accessible: grocery access is above national norms (75th percentile) and pharmacy density is a standout (98th percentile). By contrast, cafes, restaurants, and parks within the small neighborhood boundary index low; investors should expect residents to rely on nearby commercial corridors for dining and recreation. Average school ratings are modestly above the national midpoint, which can aid family renter retention without being the primary demand driver.
Demographic statistics aggregated within a 3-mile radius show households have inched higher even as population edged down, pointing to smaller household sizes and a steady renter pool. Looking ahead, projections indicate further household growth by 2028 alongside higher incomes, which supports multifamily demand and occupancy stability for competitive properties.
Vintage considerations: The asset’s 2008 construction is newer than the neighborhood’s older housing stock (average vintage 1953). This positioning can enhance competitiveness versus legacy inventory and may moderate near-term capital planning, though investors should underwrite mid-life system updates and potential repositioning to meet current renter expectations.
Neighborhood-level crime metrics were not available in WDSuite for this specific area at the time of publication. Investors typically benchmark property performance expectations against city and metro trends and supplement with local law enforcement and municipal resources to understand comparative safety and any recent trend shifts.
Nearby corporate offices anchor a diverse employment base that supports renter demand and commute convenience, including Avery Dennison, Disney, Radio Disney, Microsoft, and Reliance Steel & Aluminum.
- Avery Dennison — corporate offices (1.5 miles) — HQ
- Disney — corporate offices (5.41 miles) — HQ
- Radio Disney — corporate offices (6.35 miles)
- Microsoft — corporate offices (7.02 miles)
- Reliance Steel & Aluminum — corporate offices (7.09 miles) — HQ
This 98-unit, 2008-built property offers a compelling balance of demand depth and competitive positioning within a high-cost ownership market. Elevated neighborhood renter concentration and strong income levels support a broad tenant base, while neighborhood NOI per unit ranks high nationally. According to CRE market data from WDSuite, occupancy is around the national midpoint, underscoring the importance of asset quality, leasing execution, and amenity alignment to capture pricing power.
The asset’s newer vintage versus the area’s older stock can differentiate on finishes and building systems, potentially lowering near-term capex while enabling targeted value-add to meet current renter preferences. With household growth expected in the surrounding 3-mile radius and ownership costs remaining elevated, the case for stable multifamily demand is intact, though operators should plan for mid-life system investments and vigilant lease management to sustain retention.
- Newer 2008 vintage relative to neighborhood stock supports competitive positioning and moderates near-term capex
- High-cost ownership market reinforces reliance on rentals and underpins leasing stability
- Elevated renter concentration and rising local household incomes expand the tenant base
- Neighborhood NOI per unit ranks high nationally, supporting revenue potential with effective operations
- Risk: Occupancy near the national midpoint requires strong leasing, amenities, and pricing discipline