| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 68th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 W Palmer Ave, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1984 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
215 W Palmer Ave Glendale Urban-Core Multifamily Investment
Neighborhood metrics point to a high share of renter-occupied units that supports a deep tenant base and steady leasing, according to WDSuite’s CRE market data.
Positioned in Glendale’s Urban Core, the property benefits from neighborhood fundamentals that screen well versus both the Los Angeles metro and national benchmarks. Amenity access is a relative strength: cafes, restaurants, groceries, and pharmacies track in the top quartile nationally, supporting daily convenience and renter appeal.
The neighborhood’s occupancy trends are above the national median (73rd percentile), and net operating income per unit is also competitive nationally (88th percentile), per WDSuite’s CRE market data. The area skews heavily renter-occupied at the neighborhood level, indicating depth for multifamily demand and potential resilience in the leasing pipeline; this is a neighborhood statistic, not specific to the property.
Within a 3-mile radius, households have grown modestly over the past five years even as total population inched down, pointing to smaller household sizes and a stable, diversified renter pool. Looking ahead, WDSuite’s datasets indicate household counts are projected to rise further while average household size trends lower, which typically supports sustained demand for rental units and occupancy stability.
Construction vintage is an advantage: built in 1984, the asset is newer than the neighborhood’s average 1960s-era stock. That positioning can enhance competitiveness versus older buildings while still warranting selective modernization or systems updates to support rent growth and retention.
Affordability bears monitoring. Neighborhood rent-to-income levels near 0.29 suggest some affordability pressure for a portion of renters, implying a need for thoughtful lease management and amenity-driven retention strategies rather than outsized pricing moves.
Safety indicators compare favorably versus national norms. According to WDSuite, the neighborhood sits in a high national percentile for lower property and violent offenses, and recent year-over-year trends show meaningful declines in estimated offense rates. While conditions can vary block to block, the broader pattern suggests a comparatively safer environment than many neighborhoods nationwide.
Investors should continue to monitor local trends and property-level measures, but the directional data provides a supportive backdrop for tenant retention and leasing stability relative to regional alternatives.
Proximity to major employers in materials, media and entertainment, and technology underpins commuter convenience and supports renter demand, including Avery Dennison, Disney, Radio Disney, Live Nation Entertainment, and Microsoft.
- Avery Dennison — materials & packaging (1.7 miles) — HQ
- Disney — media & entertainment (4.2 miles) — HQ
- Radio Disney — media offices (5.1 miles)
- Live Nation Entertainment — entertainment offices (5.4 miles)
- Microsoft — technology offices (5.5 miles)
215 W Palmer Ave offers a 26-unit footprint with average unit sizes near 919 SF, aligning with renter expectations for functional layouts in Glendale’s Urban Core. Built in 1984, the asset is newer than much of the surrounding stock, providing competitive positioning versus older properties while leaving room for targeted renovations and building-systems planning. At the neighborhood level, occupancy trends register above the national median and renter concentration is high, supporting a sizable tenant base. Amenity density (dining, groceries, pharmacies) ranks in the top quartile nationally, reinforcing location fundamentals, according to CRE market data from WDSuite.
Within a 3-mile radius, households have increased despite modest population softening, and projections call for further household growth alongside smaller average household sizes—factors that typically expand the renter pool and support occupancy stability. Key risks to underwrite include measured affordability pressure (rent-to-income near 0.29) that favors disciplined lease management, and the need for ongoing capital planning typical of 1980s assets to sustain competitive positioning.
- Newer-than-area stock (1984) offers competitive positioning with potential for selective value-add
- Neighborhood occupancy sits above national median, supporting leasing stability
- Dense amenity base and strong employer proximity underpin renter demand
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Risk: affordability pressure (rent-to-income near 0.29) and ongoing capex needs for 1980s systems