| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 N Belmont St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | 2016-08-05 |
| Transaction Price | $8,850,000 |
| Buyer | Sikder Family Trust |
| Seller | Michael J & Mary Sewitz |
215 N Belmont St Glendale Multifamily Investment
This 30-unit property built in 1973 benefits from neighborhood-level occupancy at 88.8% and strong renter concentration at 71% of housing units, according to WDSuite's CRE market data.
The Glendale submarket presents compelling fundamentals for multifamily investors, ranking in the top quartile among 1,441 Los Angeles metro neighborhoods for overall investment attractiveness. Neighborhood-level occupancy sits at 88.8%, while the area maintains a 71% renter-occupied housing unit concentration—ranking 162nd of 1,441 neighborhoods and placing in the 97th percentile nationally for rental demand depth.
Built in 1973, this property aligns with the neighborhood's average construction year of 1974, suggesting consistent building stock that may offer value-add renovation opportunities. The area's amenity density supports tenant retention, with 6.95 grocery stores per square mile (98th percentile nationally) and 22 restaurants per square mile (97th percentile nationally). Childcare access at 3.47 facilities per square mile ranks in the 97th percentile nationwide, appealing to the area's family demographic.
Demographic data aggregated within a 3-mile radius shows 200,558 residents with household formation projected to increase 31.7% through 2028, expanding the potential tenant base. Current median household income of $88,347 has grown 40.8% over five years, while median home values of $685,042 represent a 9.7 value-to-income ratio (98th percentile nationally). These elevated ownership costs sustain rental demand, though the current rent-to-income ratio of 34% suggests affordability pressure that requires careful lease management consideration.
Crime data for this neighborhood is not currently available in our dataset, limiting comparative safety analysis against metro and national benchmarks. Investors should conduct independent due diligence on local crime trends and consider this data gap when evaluating the property's risk profile and tenant appeal factors.
The property benefits from proximity to major corporate headquarters and offices that support consistent workforce housing demand in the Glendale area. This employment base provides commute convenience for professionals across manufacturing, entertainment, and business services sectors.
- Avery Dennison — materials & manufacturing (0.9 miles) — HQ
- Disney — entertainment & media (4.7 miles) — HQ
- Radio Disney — media & broadcasting (5.6 miles)
- Live Nation Entertainment — entertainment services (6.6 miles)
- Microsoft — technology (6.6 miles)
This 30-unit Glendale property offers exposure to a top-quartile Los Angeles neighborhood with strong rental fundamentals and demographic tailwinds. The 71% renter-occupied housing concentration ranks in the 97th percentile nationally, indicating deep tenant demand, while projected household formation growth of 31.7% through 2028 supports long-term occupancy stability. The 1973 construction year aligns with neighborhood norms and may present value-add renovation opportunities to capture rent growth in a market where median rents have increased 39.7% over five years.
According to multifamily property research from WDSuite, the submarket's amenity density and proximity to major employers like Avery Dennison headquarters (0.9 miles) and Disney (4.7 miles) support tenant retention. However, the current rent-to-income ratio of 34% requires careful lease management, as affordability pressure could impact renewal rates and limit aggressive rent increases despite strong underlying demand drivers.
- Top-quartile neighborhood ranking among 1,441 Los Angeles metro areas with 88.8% occupancy
- 97th percentile nationally for renter concentration at 71% of housing units
- Projected 31.7% household formation growth through 2028 expanding tenant base
- Value-add potential with 1973 construction year aligned to neighborhood average
- Risk consideration: 34% rent-to-income ratio may limit rent growth velocity