| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Good |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 312 N Pacific Ave, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 27 |
| Transaction Date | 2021-08-24 |
| Transaction Price | $8,600,000 |
| Buyer | GALAN INVESTMENTS LLC |
| Seller | 460 MYRTLE LLC |
312 N Pacific Ave Glendale Multifamily Investment
Urban-core Glendale location with high renter concentration and strong amenity access supports durable tenant demand; neighborhood occupancy trends are measured for the area, not the property, and sit in the upper range nationally according to WDSuite’s CRE market data.
The property sits in Glendale’s Urban Core, an area rated A and positioned above the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Amenity density is a standout feature: cafes, restaurants, groceries, parks, and pharmacies rank in the top percentiles nationally, which tends to enhance renter appeal and supports leasing velocity.
Neighborhood occupancy is in the 66th percentile nationwide, indicating relatively stable conditions for operators; this occupancy figure reflects the neighborhood, not this specific property. Median asking rents are elevated versus many U.S. submarkets, and elevated home values (around the 90th percentile nationally) indicate a high-cost ownership market that can reinforce reliance on multifamily housing and help sustain pricing power.
Tenure patterns point to a deep renter base: renter-occupied housing accounts for roughly 78% of units at the neighborhood level, while within a 3-mile radius renters comprise about 72% of occupied housing. For multifamily investors, this breadth of renter households supports demand depth and leasing durability.
Within a 3-mile radius, recent trends show a modest population contraction alongside a slight increase in households and smaller average household sizes. This combination typically translates to a larger relative tenant base and steady demand for rental units. Household incomes have trended higher, and projections point to continued growth alongside rent levels, providing a supportive backdrop for cash flow management and renewals.
Relative to neighborhoods nationwide, overall safety indicators for the area are above average (around the 68th percentile), and the neighborhood is competitive among the 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Property-related offenses benchmark well nationally (roughly the 91st percentile), with recent data showing improvement, while violent offense metrics benchmark stronger than average nationally (about the 76th percentile).
Year-over-year trends indicate some volatility, including a recent uptick in violent incidents alongside improvement in property offenses. Investors should underwrite with standard operational safeguards and monitor trend direction rather than relying on block-level assumptions.
Proximity to major employers in media, entertainment, and communications underpins workforce housing demand and commute convenience, supporting tenant retention and leasing stability. Key nearby employers include Avery Dennison, Disney, Radio Disney, Live Nation Entertainment, and Charter Communications.
- Avery Dennison — materials & packaging (0.6 miles) — HQ
- Disney — entertainment (3.5 miles) — HQ
- Radio Disney — media (4.4 miles)
- Live Nation Entertainment — entertainment (5.7 miles)
- Charter Communications — telecommunications (5.7 miles)
312 N Pacific Ave is a 27-unit multifamily asset in Glendale’s amenity-rich urban core. Built in 1987, it is newer than the neighborhood average stock, offering a competitive position versus older vintage properties while still warranting routine capital planning for aging systems. Neighborhood occupancy sits in the upper third nationally and renter concentration is high, supporting a broad tenant base and steady leasing, based on CRE market data from WDSuite.
Within 3 miles, households have edged up even as population dipped slightly, and average household size has declined — factors that typically expand the renter pool and support occupancy stability. Elevated ownership costs in the area point to sustained reliance on multifamily housing, while strong amenity access and proximity to major employers bolster retention and renewal prospects. Key risks include rent-to-income pressure in a high-cost market and monitoring safety trend volatility.
- Urban-core Glendale with top-tier amenity access supports leasing velocity and tenant retention.
- 1987 vintage offers competitive positioning versus older stock, with manageable modernization opportunities.
- High renter-occupied share locally and within 3 miles indicates a deep tenant base and demand stability.
- Elevated home values reinforce reliance on rentals, supporting pricing power and renewals.
- Risks: affordability pressure (rent-to-income) and safety trend volatility warrant prudent underwriting.