| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 214 N Belmont St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2018-09-19 |
| Transaction Price | $7,995,000 |
| Buyer | SIROTT STANELY A |
| Seller | MCLEOD CAREY JOHN |
214 N Belmont St Glendale Multifamily Investment
Renter concentration in the surrounding neighborhood is high and amenity access is strong, supporting durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends are mixed, so asset performance will hinge on operations and positioning within Glendale’s Urban Core.
The property sits in Glendale s Urban Core, where the neighborhood ranks 175 out of 1,441 metro neighborhoods by overall rating (A), placing it in the top quartile among Los Angeles-Long Beach-Glendale submarkets. Amenity access is a local strength: amenity rank is 66 of 1,441 (top quartile in the metro) and amenity density benchmarks in the mid-90s nationally, helping with leasing appeal and day-to-day livability.
For multifamily investors, the tenant base is deep. The share of housing units that are renter-occupied in the neighborhood is elevated (nationally in the upper percentiles), which supports leasing velocity and renewal depth. By contrast, neighborhood occupancy is closer to the national middle, which places a premium on competitive finishes, responsive management, and pricing discipline to sustain stability.
Within a 3-mile radius, demographic patterns point to a gradually expanding renter pool: households have grown even as total population edged down, implying smaller household sizes and continued demand for apartments. Income measures have moved higher over recent years, and WDSuite s forecasts indicate further household growth through the mid-term, a constructive setup for retention and absorption.
Ownership costs are elevated in this part of Los Angeles County (home values and value-to-income metrics sit in high national percentiles), which tends to reinforce reliance on rental housing and supports pricing power for well-run assets. School ratings in the area are around the national middle, and everyday needs are well covered with strong grocery, restaurant, pharmacy, and childcare density factors that enhance renter convenience.
Vintage context: the building s 1986 construction is newer than the neighborhood s average vintage (1970s). That positioning can be competitive versus older stock, though investors should plan for aging systems and targeted modernization to meet current renter expectations.
Comparable neighborhood safety data are limited in WDSuite for this location, so investors should review city and precinct-level trends to contextualize operating risk. A balanced approach is prudent: underwrite security features and resident experience, and benchmark against nearby Los Angeles-Long Beach-Glendale submarkets rather than relying on block-level anecdotes.
Proximity to major employers anchors renter demand with short commutes to packaging, media, software, and live entertainment offices. Notable nearby employers include Avery Dennison, Disney, Radio Disney, Microsoft, and Live Nation Entertainment.
- Avery Dennison packaging & materials (0.98 miles) HQ
- Disney media & entertainment (4.75 miles) HQ
- Radio Disney media offices (5.67 miles)
- Microsoft software (6.62 miles)
- Live Nation Entertainment live entertainment offices (6.64 miles)
This 20-unit asset, built in 1986, benefits from a high renter-occupied housing share in the surrounding neighborhood and strong amenity density that supports daily convenience and leasing appeal. The vintage is newer than the area s average stock, offering relative competitiveness versus 1970s-era properties while leaving room for selective value-add and systems modernization.
Based on commercial real estate analysis from WDSuite, the neighborhood shows healthy demand drivers but mixed occupancy at the neighborhood level, suggesting performance will be driven by management, finish quality, and pricing. Elevated home values in this pocket of Los Angeles County help sustain reliance on multifamily, while rising household incomes within a 3-mile radius support rent capability. Key risks include affordability pressure (rent-to-income considerations) and macro sensitivity across the Los Angeles-Long Beach-Glendale metro.
- High renter-occupied share and strong amenity access support a deep tenant base and leasing stability.
- 1986 vintage is competitive versus older neighborhood stock, with targeted value-add and system upgrades offering upside.
- Elevated ownership costs in the area reinforce rental demand and potential pricing power for well-positioned assets.
- Demand outlook supported by household growth within 3 miles and proximity to major employment nodes.
- Risks: neighborhood-level occupancy near the national middle and rent-to-income affordability pressures require disciplined operations.