| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 44th | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1920 Gardena Ave, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 21 |
| Transaction Date | 2001-08-28 |
| Transaction Price | $1,695,000 |
| Buyer | SIKDER FARUQUE |
| Seller | HOVSEPIAN VAHE |
1920 Gardena Ave, Glendale CA Multifamily Investment
Positioned in Glendale’s urban core, the asset benefits from a deep renter base and strong neighborhood amenities that support leasing stability, according to WDSuite’s CRE market data.
Glendale’s Urban Core posts a top-quartile standing among 1,441 Los Angeles-Long Beach-Glendale neighborhoods (A- rating), with daily-needs access that is top decile nationally for groceries, cafes, restaurants, and pharmacies. This concentration of amenities can bolster renter retention and reduce vacancy friction for small and mid-sized multifamily assets.
Neighborhood occupancy is around the national middle, while renter-occupied housing share is among the highest in the country, indicating a large tenant pool. Elevated home values relative to incomes (high national percentile) characterize a high-cost ownership market, which typically sustains reliance on rental housing and supports pricing power when managed carefully.
Within a 3-mile radius, households have increased even as population edged down, pointing to smaller household sizes and a broader diffusion of renters. Forward-looking projections indicate additional household growth, which can expand the local tenant base and support occupancy stability over time, based on CRE market data from WDSuite.
The average neighborhood building stock skews older, and this 1987 vintage is newer than much of the area’s housing. That positioning can be competitively advantageous versus prewar inventory, though investors should plan for system modernization and selective upgrades to meet current renter expectations.
School options trend around national averages, and neighborhood income levels sit modestly above the national midpoint. For investors, the combination of amenity access, entrenched renter demand, and newer-than-average vintage creates a pragmatic backdrop for steady operations with targeted value-add.
WDSuite s data indicates the neighborhood compares favorably on safety metrics, ranking in the stronger deciles nationally. Recent one-year estimates show notable declines in both property and violent offense rates, a constructive trend for tenant retention and long-term operations. As always, outcomes vary by block and asset type, so underwriting should focus on submarket patterns rather than isolated incidents.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience, notably in media, technology, and professional services: Avery Dennison, Microsoft, CBRE Group, Reliance Steel & Aluminum, and Disney.
- Avery Dennison — corporate offices (2.5 miles) — HQ
- Microsoft — technology offices (4.7 miles)
- CBRE Group — real estate services (4.8 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (4.8 miles) — HQ
- Disney — entertainment studios & corporate (4.8 miles) — HQ
1920 Gardena Ave offers a 21-unit footprint in a high-amenity Glendale location where renter concentration is among the highest nationally and neighborhood occupancy trends sit near the national midpoint. The area’s elevated ownership costs reinforce ongoing reliance on rental housing, supporting depth of demand and potential pricing resilience when asset quality and management execution are strong. Built in 1987, the property is newer than much of the surrounding stock, providing a competitive baseline with room for targeted modernization.
Within a 3-mile radius, household counts have risen and are projected to expand further, even as population remains roughly flat, indicating smaller household sizes and a broader renter pool over time. According to CRE market data from WDSuite, these dynamics, coupled with top-decile amenity access and proximity to major employers, point to durable leasing fundamentals with measured upside and manageable operational risk.
- Entrenched renter base in a high-amenity, urban-core location supporting occupancy stability
- 1987 vintage competes well against older neighborhood stock; scope for selective renovations
- High-cost ownership environment reinforces multifamily demand and retention potential
- 3-mile household growth and smaller household sizes expand the prospective tenant base
- Risks: occupancy softening from prior peaks and average school ratings warrant conservative underwriting