| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 68th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1760 Gardena Ave, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 2007 |
| Units | 65 |
| Transaction Date | 2004-09-21 |
| Transaction Price | $3,875,000 |
| Buyer | METROPOLITAN CITY LIGHTS |
| Seller | YATES GEORGE |
1760 Gardena Ave Glendale Multifamily Investment
This 65-unit property built in 2007 sits in an Urban Core neighborhood where 90.5% of housing units are renter-occupied—the highest concentration among 1,441 Los Angeles metro neighborhoods—supporting sustained tenant demand according to CRE market data from WDSuite.
1760 Gardena Ave is located in a Glendale Urban Core neighborhood rated A overall among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, reflecting top-quartile performance nationally across housing fundamentals. The immediate neighborhood maintains 95.4% occupancy and a renter-occupied share of 90.5%—the highest renter concentration in the metro—which underscores the depth of the tenant base and sustained demand for multifamily housing. Median contract rent within the neighborhood stands at $2,031, ranking in the 92nd percentile nationally, while neighborhood-level NOI per unit averages $12,094, placing it in the 88th percentile nationwide. These metrics indicate strong pricing power and stable cash flow potential relative to national CRE benchmarks.
The property was constructed in 2007, making it notably newer than the neighborhood average vintage of 1966. This positions the asset favorably for reduced near-term capital expenditure and competitive appeal in a market where older building stock predominates. Investors should anticipate lower maintenance burdens and stronger tenant retention compared to legacy properties in the immediate area.
Demographic statistics aggregated within a 3-mile radius show a population of approximately 237,000, with household counts forecast to grow 32% by 2028—adding roughly 30,700 households over the five-year period. This expansion in the renter pool supports occupancy stability and lease-up velocity. Median household income in the 3-mile area is $91,739 and projected to reach $123,607 by 2028, a 35% increase that strengthens tenant purchasing power and supports rent growth. Approximately 69.5% of housing units within the 3-mile radius are renter-occupied, reinforcing reliance on multifamily housing. Elevated home values in the greater Los Angeles market limit accessibility to ownership, sustaining rental demand and supporting lease retention across the tenant base.
The neighborhood ranks in the 81st percentile nationally for amenity density, with 6.54 grocery stores per square mile (97th percentile), 26.17 restaurants per square mile (98th percentile), 2.18 cafes per square mile (95th percentile), and 4.36 childcare facilities per square mile (98th percentile). Pharmacy access is exceptionally high at 10.91 per square mile, ranking 8th among metro neighborhoods. These amenities enhance tenant appeal and retention, particularly for workforce renters and families. The neighborhood's lack of park density (0.00 per square mile, ranking last in the metro) represents a gap in recreational infrastructure, though the broader amenity base and urban convenience offset this shortfall for many renter profiles.
Safety metrics for the neighborhood reflect favorable trends and strong relative performance. The property offense rate is estimated at 5.36 incidents per 100,000 residents annually, ranking 6th lowest among 1,441 Los Angeles metro neighborhoods and placing the area in the 94th percentile nationally for property crime safety. Over the past year, the property offense rate declined by 63.6%, ranking in the 93rd percentile nationally for year-over-year improvement. Violent offense rates are estimated at 8.77 incidents per 100,000 residents, ranking 211th in the metro (72nd percentile nationally), and have fallen 74.7% year-over-year, placing the neighborhood in the 95th percentile nationally for violent crime reduction.
These trends indicate improving safety conditions relative to both the metro and national benchmarks, which support tenant retention and leasing stability. Investors should view these metrics as comparative indicators of neighborhood trajectory rather than guarantees of future performance, and consider them alongside broader due diligence on local policing, community investment, and block-level dynamics.
The property benefits from proximity to major corporate employers anchoring the Glendale and greater Los Angeles employment base, supporting workforce housing demand and commute convenience for professional renters.
- Avery Dennison — materials & manufacturing (2.4 miles) — HQ
- Disney — entertainment & media (4.6 miles) — HQ
- Microsoft — technology offices (4.8 miles)
- Reliance Steel & Aluminum — metals & distribution (4.9 miles) — HQ
- CBRE Group — commercial real estate services (4.9 miles) — HQ
This 65-unit multifamily asset offers institutional-quality fundamentals in a top-rated Los Angeles metro neighborhood. The property's 2007 vintage positions it competitively within a submarket where the median building was constructed in 1966, reducing capital expenditure risk and enhancing tenant appeal. The immediate neighborhood achieves a 95.4% occupancy rate and a 90.5% renter-occupied share—the highest in the metro—underscoring the structural depth of rental demand and limited ownership substitution risk.
Neighborhood-level NOI per unit averages $12,094, placing the area in the 88th percentile nationally, while median contract rent of $2,031 ranks in the 92nd percentile. These metrics reflect strong pricing power and cash flow stability relative to national CRE benchmarks. The 3-mile demographic catchment is forecast to add approximately 30,700 households by 2028, a 32% increase, while median household income is projected to rise 35% to $123,607, supporting rent growth and tenant retention over the investment horizon.
Safety trends are favorable, with property offense rates declining 63.6% year-over-year and violent offense rates down 74.7%, both ranking in the top decile nationally for improvement. The neighborhood benefits from exceptional amenity density—ranking in the 81st percentile nationally—with top-percentile access to groceries, restaurants, childcare, and pharmacies, all of which enhance tenant satisfaction and reduce turnover risk.
Proximity to major corporate employers including Disney, Microsoft, Avery Dennison, and CBRE Group supports workforce housing demand and commute convenience. The combination of A-rated neighborhood fundamentals, strong demographic tailwinds, improving safety metrics, and a modern building vintage positions this asset for stable occupancy, pricing power, and long-term value appreciation within the Los Angeles multifamily market.