| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Good |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 214 N Louise St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2002-10-03 |
| Transaction Price | $2,880,000 |
| Buyer | GGF LLC |
| Seller | GOULOOMIAN ARPY SARKIS |
214 N Louise St Glendale Multifamily Investment
This 20-unit property benefits from exceptional neighborhood-level net operating income per unit averaging $21,543, ranking in the top quartile among Los Angeles metro neighborhoods according to CRE market data from WDSuite.
Located in an Urban Core neighborhood rated "A" overall, this Glendale location demonstrates strong fundamentals for multifamily investors. The area ranks in the top quartile nationally for amenities, with exceptional restaurant density at 128 establishments per square mile and comprehensive access to cafes, pharmacies, and childcare facilities. Neighborhood-level occupancy stands at 94.1%, while 77.7% of housing units are renter-occupied, indicating sustained rental demand.
Built in 1986, this property aligns with the neighborhood's average construction year of 1976, suggesting potential value-add opportunities through strategic renovations and capital improvements. The area's median contract rent of $2,119 has grown 41.7% over five years, outpacing many comparable markets. Demographics within a 3-mile radius show a mature renter base with 69.5% of households renting, supporting tenant retention and occupancy stability.
The neighborhood benefits from strong educational attainment, with 29.1% of residents holding bachelor's degrees, ranking in the 82nd percentile nationally. Projected demographic trends indicate household income growth of 29% through 2028, expanding the qualified renter pool. However, investors should monitor the rent-to-income ratio, which ranks in the 4th percentile nationally, suggesting affordability pressures that may impact lease renewals and pricing power.
Safety metrics present a mixed profile requiring careful consideration. Property crime rates rank favorably at 22nd among 1,441 metro neighborhoods, placing this location in the 91st percentile nationally with an estimated rate of 9.7 incidents per 100,000 residents. Property crime has declined significantly by 76.3% year-over-year, indicating improving conditions.
Violent crime trends warrant attention, with rates increasing 171.8% year-over-year, though the absolute rate remains relatively low at 6.8 incidents per 100,000 residents. This places the neighborhood in the 76th percentile nationally for violent crime safety. Investors should factor these dynamics into tenant retention strategies and property management considerations.
The property benefits from proximity to major corporate anchors that support workforce housing demand, including Fortune 500 headquarters and established entertainment industry employers.
- Avery Dennison — materials science and manufacturing (0.6 miles) — HQ
- Disney — entertainment and media (4.2 miles) — HQ
- Radio Disney — broadcasting services (5.1 miles)
- Live Nation Entertainment — live events and entertainment (6.2 miles)
- Charter Communications — telecommunications (6.3 miles)
This 20-unit property in Glendale presents a compelling multifamily investment opportunity anchored by exceptional neighborhood economics and urban amenity access. The area's $21,543 average net operating income per unit ranks in the top quartile among Los Angeles metro neighborhoods, while 94.1% occupancy rates and 77.7% renter-occupied housing demonstrate sustained rental demand. Built in 1986, the property offers value-add potential through strategic capital improvements in a neighborhood with strong rent growth momentum.
Demographics within a 3-mile radius support long-term stability, with projected household income growth of 29% through 2028 expanding the qualified tenant base. However, commercial real estate analysis reveals affordability pressures with rent-to-income ratios in the bottom quartile nationally, requiring careful lease management and retention strategies. The location's proximity to major employers including Disney and Avery Dennison headquarters provides workforce housing demand, while exceptional amenity density supports tenant satisfaction and retention.
- Neighborhood NOI per unit averages $21,543, ranking top quartile metro-wide
- Strong occupancy at 94.1% with 77.7% renter-occupied housing units
- Value-add potential with 1986 construction year and strategic renovation opportunities
- Projected 29% household income growth through 2028 expands qualified renter pool
- Risk consideration: Rent-to-income ratios in bottom quartile nationally require careful lease management