| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 221 N Cedar St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 60 |
| Transaction Date | 2019-12-14 |
| Transaction Price | $28,000,000 |
| Buyer | SIROTT STANLEY A |
| Seller | 221 NORTH CEDAR STREET ASSOCIATES |
221 N Cedar St Glendale Multifamily Investment Analysis
Renter-occupied housing concentration is high and local amenities are dense, supporting a durable tenant base according to WDSuite’s CRE market data. Neighborhood occupancy trends trail metro norms, so underwriting should prioritize retention and leasing execution.
Located in Glendale’s Urban Core, the neighborhood ranks 175 out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods—placing it in the top quartile metro-wide. Amenity access is a clear strength, with grocery, restaurants, pharmacies, and childcare counts benchmarking in the top quartile nationally, which tends to support leasing velocity and day-to-day resident convenience.
According to WDSuite’s CRE market data, the surrounding neighborhood shows a high share of renter-occupied units (renter concentration), indicating depth in the tenant pool for multifamily assets. At the same time, neighborhood occupancy levels have been trending below metro averages, which argues for focused leasing management and renewal strategies to stabilize cash flow.
Within a 3-mile radius, demographic data show a modest population dip alongside a growing household count, with projections indicating more households as average household size declines by 2028. For investors, a larger number of smaller households generally supports steady absorption in professionally managed multifamily, provided unit mixes and pricing align with local demand.
Home values in the neighborhood are elevated relative to national peers, which points to a high-cost ownership market. This context typically sustains reliance on rental housing and can aid pricing power, though the local rent-to-income profile suggests some affordability pressure—making deliberate rent setting and renewal strategies important for retention. School ratings trend around the national mid-range, which neither materially boosts nor detracts from broad renter appeal in an urban Glendale setting.
WDSuite does not provide comparable neighborhood-level crime statistics for this location in the current dataset. Investors should review city and precinct trends for Glendale and the broader Los Angeles-Long Beach-Glendale metro to contextualize safety relative to peer neighborhoods, and incorporate that into risk assessments and management planning.
The area draws from a diverse white-collar employment base that supports commuter convenience and leasing durability, led by nearby corporate offices for Avery Dennison, Disney, Radio Disney, Reliance Steel & Aluminum, and CBRE Group.
- Avery Dennison — corporate offices (0.9 miles) — HQ
- Disney — corporate offices (4.6 miles) — HQ
- Radio Disney — corporate offices (5.6 miles)
- Reliance Steel & Aluminum — corporate offices (6.7 miles) — HQ
- CBRE Group — corporate offices (6.7 miles) — HQ
221 N Cedar St is a 60-unit asset built in 1986—newer than the neighborhood’s average vintage. This positioning supports competitive appeal versus older stock, while leaving room for targeted modernization as systems age. The neighborhood’s top-quartile standing within the Los Angeles-Long Beach-Glendale metro and strong amenity density help underpin renter demand. Elevated ownership costs in the area further reinforce reliance on rental housing; however, neighborhood occupancy has been below metro averages, so execution around renewals, marketing, and concessions remains central to stability. According to CRE market data from WDSuite, renter concentration is high and neighborhood NOI-per-unit benchmarks are competitive nationally, which can support long-run performance when paired with disciplined leasing management.
Within a 3-mile radius, households have been increasing even as population trends are flat to slightly lower, with projections indicating further household growth as average household size declines by 2028. This dynamic typically expands the renter pool and supports occupancy, provided unit mixes and price points address observed affordability pressure.
- 1986 construction offers competitive positioning versus older stock, with selective modernization potential.
- Top-quartile neighborhood standing in a high-amenity Glendale location supports leasing and resident convenience.
- Elevated ownership costs sustain renter reliance, deepening the tenant base for multifamily.
- 3-mile data point to more households and smaller household sizes, expanding the renter pool.
- Risk: neighborhood occupancy below metro averages requires active renewal and pricing management amid affordability pressure.