| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 N Cedar St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1972 |
| Units | 80 |
| Transaction Date | 2019-07-23 |
| Transaction Price | $26,000,000 |
| Buyer | SIROTT STANLEY A |
| Seller | CEDAR REGENCY LLC |
310 N Cedar St Glendale Multifamily Investment
This 80-unit property benefits from strong neighborhood-level occupancy at 88.8% and high renter concentration at 71.2%, according to CRE market data from WDSuite.
The property sits in an Urban Core neighborhood that ranks in the 95th percentile nationally for amenities, with 6.95 grocery stores per square mile and strong restaurant density at 22 locations per square mile. Built in 1972, this vintage aligns with the neighborhood average construction year of 1974, indicating potential value-add opportunities through strategic renovations and unit improvements.
Rental housing dominates the local market, with 71.2% of housing units occupied by renters—ranking in the top quartile among 1,441 metro neighborhoods. This high renter concentration supports consistent tenant demand, though neighborhood-level occupancy at 88.8% has declined modestly over five years. Median contract rents of $1,943 rank in the 91st percentile nationally, reflecting strong pricing power in this established rental market.
Demographics within the 3-mile radius show a stable population base of approximately 198,000 residents, with 68% of housing units renter-occupied. Household income trends indicate strengthening fundamentals, with median income rising 40.6% over five years to $88,410. Forecasts project continued household growth of 31.7% through 2028, expanding the potential tenant base while median rents are expected to reach $2,649.
The neighborhood's median home value of $685,042 reinforces rental demand by maintaining elevated ownership costs that sustain renter reliance on multifamily housing. With a rent-to-income ratio of 0.34, affordability pressures require careful lease management and renewal strategies to maintain occupancy levels.
Safety data for this specific neighborhood is not currently available in the regional crime database. Investors should conduct independent due diligence on local crime trends and consider engaging with local law enforcement or security consultants to assess the property's risk profile relative to comparable assets in the broader Glendale submarket.
The property benefits from proximity to major corporate employers, anchored by Avery Dennison's headquarters and Disney's corporate offices, supporting workforce housing demand in this established employment corridor.
- Avery Dennison — materials science & manufacturing (0.9 miles) — HQ
- Disney — entertainment & media (4.7 miles) — HQ
- Microsoft — technology services (6.7 miles)
- CBRE Group — commercial real estate services (6.8 miles) — HQ
- Live Nation Entertainment — entertainment services (10.3 miles) — HQ
This 80-unit property represents a value-add opportunity in a high-amenity Urban Core neighborhood with strong rental fundamentals. The 1972 construction year presents renovation upside potential, while the neighborhood's 71.2% renter occupancy rate—ranking in the top quartile among Los Angeles metro neighborhoods—demonstrates sustained rental demand. Commercial real estate analysis shows median rents of $1,943 ranking in the 91st percentile nationally, indicating established pricing power despite neighborhood occupancy trends requiring attention.
Demographic projections within the 3-mile radius support long-term investment fundamentals, with household growth of 31.7% forecast through 2028 and median rents expected to reach $2,649. The property's proximity to major employers including Avery Dennison headquarters enhances tenant retention potential, while high home values at $685,042 median maintain rental market demand by sustaining elevated ownership costs.
- High renter concentration at 71.2% ranks top quartile among 1,441 metro neighborhoods
- Strong rent levels at $1,943 median rank 91st percentile nationally
- Value-add potential through strategic renovations of 1972 vintage units
- Proximity to major employers including Avery Dennison headquarters supports tenant demand
- Risk: Neighborhood occupancy at 88.8% has declined, requiring focused leasing and retention strategies