| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 77th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2121 N Verdugo Rd, Glendale, CA, 91208, US |
| Region / Metro | Glendale |
| Year of Construction | 1973 |
| Units | 34 |
| Transaction Date | 2019-04-10 |
| Transaction Price | $8,830,000 |
| Buyer | ROY H LP |
| Seller | GOLDMAN MARTIN B |
2121 N Verdugo Rd Glendale Multifamily Investment
This 34-unit property in Glendale benefits from neighborhood-level occupancy at 89.7% and strong renter demand in a submarket with 57.2% rental tenure. Income growth projections within a 3-mile radius support rental pricing power, according to WDSuite's CRE market data.
This Glendale neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for overall investment fundamentals, with particularly strong performance in amenities and demographics. The area demonstrates solid rental demand with 57.2% of housing units occupied by renters within a 3-mile radius, supporting consistent tenant flow for multifamily properties.
Demographic trends within the 3-mile radius show household income growth of 36% over five years, reaching a median of $107,075. Population projections indicate minimal decline through 2028, while household formation is expected to increase by 31.7%, expanding the potential renter pool. The neighborhood's construction vintage of 1973 aligns closely with the area average of 1968, positioning the asset within established building stock that may benefit from targeted renovations to capture rent premiums.
The neighborhood ranks 482nd of 1,441 metro areas for median rent at $2,061, placing it above metro median while maintaining affordability relative to area incomes. Home values averaging nearly $1.2 million create a substantial ownership barrier, with a value-to-income ratio in the 98th percentile nationally, which can keep households in the rental market longer. Schools average 4.0 out of 5 stars, ranking in the 84th percentile nationally, supporting family tenant retention.
The neighborhood demonstrates strong safety fundamentals, ranking 217th of 1,441 Los Angeles metro neighborhoods for overall crime metrics, placing it in the 81st percentile nationally. Property crime rates are particularly favorable at 13.1 incidents per 100,000 residents, with the area showing an 80% improvement in property crime trends over the past year.
Violent crime rates remain low at 3.0 incidents per 100,000 residents, ranking in the 88th percentile compared to neighborhoods nationwide. These safety metrics support tenant retention and can contribute to stable occupancy levels, particularly important for family-oriented renters attracted to the area's highly-rated schools.
The submarket benefits from proximity to major corporate employers, providing workforce housing opportunities for professionals commuting to established headquarters and regional offices.
- Avery Dennison — materials science and manufacturing (2.3 miles) — HQ
- Disney — entertainment and media (5.9 miles) — HQ
- Radio Disney — broadcasting and media (6.9 miles)
- Charter Communications — telecommunications (6.9 miles)
- Live Nation Entertainment — entertainment services (8.6 miles)
This 34-unit Glendale property offers exposure to a neighborhood ranking in the top quartile among Los Angeles metro areas for investment fundamentals. The 1973 construction year positions the asset for potential value-add renovations while maintaining alignment with neighborhood building stock. Strong rental demand is supported by high ownership costs that keep households in the rental market, with home values approaching $1.2 million creating substantial barriers to homeownership.
Demographic projections within a 3-mile radius show household formation increasing 31.7% through 2028, expanding the tenant base despite modest population decline. Income growth trends support rental pricing power, with median household income projected to reach $140,583 by 2028. The area's proximity to major employers including Avery Dennison headquarters and Disney provides workforce housing appeal for professional tenants.
- Neighborhood ranks top quartile among 1,441 Los Angeles metro areas for overall investment metrics
- Strong rental demand supported by 57.2% renter occupancy and high homeownership barriers
- Household formation projected to increase 31.7% through 2028, expanding tenant pool
- Value-add potential from 1973 vintage aligned with neighborhood building stock
- Risk: Neighborhood occupancy at 89.7% below metro averages, requiring active management