| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 N Belmont St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | 1999-04-06 |
| Transaction Price | $2,650,000 |
| Buyer | SIROTT STANLEY A |
| Seller | DELL PTNSHP |
311 N Belmont St Glendale Multifamily Investment
This 32-unit property built in 1987 sits within a neighborhood ranking in the top quartile nationally for amenity access and housing fundamentals. Strong renter demand is supported by 97th percentile rental share and proximity to major corporate employers including Disney and Avery Dennison headquarters.
The Glendale neighborhood demonstrates strong fundamentals for multifamily investors, ranking 175th among 1,441 Los Angeles metro neighborhoods with an A rating. The area achieves exceptional amenity density, ranking in the 95th percentile nationally for restaurants, cafes, and pharmacies per square mile, supporting tenant retention through walkable convenience.
Rental demand remains robust with 71.2% of housing units occupied by renters, placing the neighborhood in the 97th percentile nationally for rental share. Demographics within a 3-mile radius show 67.9% renter occupancy, with forecasts projecting household growth of 31.8% through 2028. This expansion supports a larger tenant base and occupancy stability for area properties.
The property's 1987 construction year aligns with the neighborhood average of 1974, indicating potential value-add opportunities through strategic renovations and unit upgrades. Median contract rents of $1,943 reflect strong pricing power, though current neighborhood occupancy of 88.8% suggests careful lease management may be needed to optimize retention rates.
Home values averaging $685,042 with 62.5% five-year appreciation reinforce rental demand, as elevated ownership costs keep households in the multifamily market. The rent-to-income ratio of 0.34 indicates affordability pressure that requires attention to lease renewals and tenant retention strategies.
Safety data for this specific neighborhood location is not currently available in the regional crime database. Investors should conduct independent due diligence through local law enforcement reports, security assessments, and property management insights to evaluate safety conditions and their potential impact on tenant retention and property operations.
The property benefits from proximity to several major corporate headquarters and offices that anchor local employment demand.
- Avery Dennison — manufacturing & materials (0.9 miles) — HQ
- Disney — entertainment & media (4.7 miles) — HQ
- Radio Disney — entertainment & media (5.7 miles)
- Charter Communications — telecommunications (6.7 miles)
- Microsoft — technology (6.8 miles)
This 32-unit Glendale property presents a compelling value-add opportunity within a neighborhood that ranks in the top quartile nationally for housing fundamentals and amenity access. The 1987 construction vintage aligns with area norms while offering renovation upside to capture stronger rents in a market where median contract rents reach $1,943. According to CRE market data from WDSuite, the neighborhood's 97th percentile rental share and proximity to major employers including Disney and Avery Dennison headquarters support sustained tenant demand.
Demographic projections within a 3-mile radius show household growth of 31.8% through 2028, expanding the renter pool while median household income is forecast to increase 35.2% to nearly $120,000. However, current neighborhood occupancy of 88.8% and rent-to-income ratios of 0.34 require careful lease management and retention strategies to optimize performance.
- Top quartile neighborhood ranking with A rating among 1,441 Los Angeles metro areas
- Value-add potential through strategic renovations of 1987-vintage units
- Strong employment base anchored by Disney and Avery Dennison headquarters within 5 miles
- Projected 31.8% household growth and 35.2% income growth through 2028
- Risk: Current 88.8% neighborhood occupancy requires active lease management and retention focus