| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 44th | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1930 Vassar St, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1988 |
| Units | 32 |
| Transaction Date | 1999-10-15 |
| Transaction Price | $308,500 |
| Buyer | 1930 VASSAR APARTMENTS LLC |
| Seller | CHASE PARTNERS LTD |
1930 Vassar St Glendale Multifamily Investment
This 32-unit property benefits from strong neighborhood rental demand with 74.6% of housing units renter-occupied, according to CRE market data from WDSuite.
Located in an Urban Core neighborhood ranking in the top quartile among 1,441 Los Angeles metro neighborhoods, this area demonstrates strong fundamentals for multifamily investment. The neighborhood maintains a 92.4% occupancy rate with 74.6% of housing units renter-occupied, significantly above the metro average and ranking in the 98th percentile nationally.
Demographics within a 3-mile radius support rental demand with 237,821 residents and 95,481 households. The area shows income growth momentum with median household income at $92,595, up 46.2% over five years. Forecasts indicate continued household formation with a projected 32% increase in total households by 2028, expanding the potential tenant base.
Built in 1988, this property aligns with the neighborhood's average construction year of 1947, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older inventory. The area offers strong amenity density with grocery stores ranking in the 99th percentile nationally and restaurant access in the 95th percentile, supporting tenant retention through walkable convenience.
Current median contract rent of $1,561 in the immediate neighborhood suggests stable pricing, while the broader 3-mile area commands $1,829. Home values averaging $819,151 with a 10.2 value-to-income ratio reinforce rental demand by keeping homeownership costs elevated relative to household incomes.
The neighborhood demonstrates strong safety metrics compared to the broader Los Angeles metro area. Property crime rates rank in the top 10% among metro neighborhoods, with recent trends showing significant improvement - property offense rates declined 89.2% year-over-year, ranking in the 99th percentile nationally for crime reduction.
Violent crime remains minimal with rates ranking in the top tier among 1,441 metro neighborhoods. The area's 90th percentile national ranking for overall crime performance indicates favorable conditions relative to comparable urban markets nationwide.
The area benefits from proximity to major corporate employers that support workforce housing demand, including Fortune 500 headquarters and technology offices within commuting distance.
- Avery Dennison — materials & manufacturing (2.5 miles) — HQ
- Microsoft — technology offices (4.7 miles)
- Reliance Steel & Aluminum — industrial services (4.8 miles) — HQ
- CBRE Group — commercial real estate services (4.8 miles) — HQ
- Disney — entertainment & media (4.8 miles) — HQ
This 32-unit property built in 1988 capitalizes on strong rental market fundamentals in a top-quartile Los Angeles neighborhood. With 74.6% of local housing units renter-occupied and 92.4% neighborhood occupancy rates, the investment benefits from established tenant demand. Commercial real estate analysis from WDSuite indicates the area's amenity density ranks in the 95th percentile nationally, supporting tenant retention and lease renewals.
Demographics within a 3-mile radius show household income growth of 46.2% over five years, while forecasts project 32% household growth by 2028, expanding the potential renter pool. The property's 1988 construction year positions it as newer stock relative to the neighborhood average, potentially reducing near-term capital expenditure needs while offering value-add opportunities through unit upgrades and amenity improvements.
- Strong rental demand with 74.6% renter-occupied housing units and 92.4% neighborhood occupancy
- Projected 32% household growth by 2028 supporting tenant base expansion
- Above-average construction vintage may reduce immediate capital expenditure requirements
- High home values ($819K median) reinforce rental demand through elevated ownership costs
- Risk consideration: Monitor rent-to-income ratios and potential ownership competition as market conditions evolve