| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 239 N Verdugo Rd, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 22 |
| Transaction Date | 2014-02-25 |
| Transaction Price | $5,620,000 |
| Buyer | 324 SAINT KATHRINE LLC |
| Seller | THE AVEDIS KHAJERIAN LIVING TRUST |
239 N Verdugo Rd Glendale Multifamily Investment
This 22-unit property benefits from strong neighborhood-level occupancy at 88.8% and elevated renter demand, with 71.2% of local housing units occupied by renters according to CRE market data from WDSuite.
The Glendale neighborhood ranks in the top quartile nationally for amenities (95th percentile) and housing fundamentals (78th percentile among 1,441 metro neighborhoods), supporting tenant retention through convenient access to groceries, restaurants, and childcare. With 71.2% of housing units renter-occupied, the area maintains consistent rental demand that outperforms typical ownership-heavy markets.
Demographic data aggregated within a 3-mile radius shows household income growth of 90.6% over five years, reaching a mean of $121,370, while median contract rents increased 39.6% to $1,851. Projections indicate continued household formation with a 31.2% increase expected through 2028, expanding the renter pool and supporting occupancy stability.
Built in 1987, this property aligns with the neighborhood's average construction year of 1974, suggesting consistent building stock without immediate vintage disadvantages. The rent-to-income ratio of 0.34 indicates manageable affordability for area households, though investors should monitor lease renewal dynamics as rents continue rising faster than income growth.
Crime data for this specific neighborhood is not available in current market reports, preventing detailed safety comparisons against metro averages. Investors should conduct independent due diligence on local crime trends and consider security measures as part of property management planning.
The property benefits from proximity to major corporate headquarters and offices, providing workforce housing for employees in manufacturing, entertainment, and technology sectors.
- Avery Dennison — manufacturing & materials (1.3 miles) — HQ
- Disney — entertainment & media (5.1 miles) — HQ
- Radio Disney — media operations (6.1 miles)
- Microsoft — technology offices (6.7 miles)
- Reliance Steel & Aluminum — industrial materials (6.8 miles) — HQ
This Glendale property offers exposure to a high-amenity neighborhood with strong renter demand fundamentals and established employment anchors. The area's 71.2% renter occupancy rate significantly exceeds typical suburban markets, while projected household growth of 31.2% through 2028 should support continued leasing demand. Built in 1987, the property may present value-add opportunities through unit upgrades or common area improvements.
Multifamily property research indicates the neighborhood's 88.8% occupancy rate provides a solid baseline, though this represents a 5.4% decline over five years. Income growth has outpaced rent increases historically, but forward projections show rents rising 41.5% compared to 36.4% income growth, potentially creating affordability pressures that require careful lease management.
- High neighborhood amenity density supports tenant retention and lease premiums
- Proximity to major employers including Disney and Avery Dennison headquarters
- Projected 31.2% household growth expands potential renter base through 2028
- 1987 vintage may offer value-add renovation opportunities
- Risk: Occupancy declining and rent growth may outpace income increases