| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 68th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 320 W Lomita Ave, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 2003-05-22 |
| Transaction Price | $3,100,000 |
| Buyer | ATIMOL PROPERTY LLC |
| Seller | KARAKENYAN ARTUR |
320 W Lomita Ave Glendale 22-Unit Multifamily
Renter demand is supported by a deep tenant base and steady neighborhood occupancy, according to WDSuite’s CRE market data. The location’s proximity to major employers and daily amenities points to durable leasing fundamentals.
This Urban Core pocket of Glendale offers strong daily convenience: grocery, restaurant, cafe, childcare, and pharmacy density all rank in the top quartile nationally, helping support resident retention and leasing velocity. Neighborhood occupancy trends are above national norms, reinforcing a stable backdrop for a 22-unit asset.
The neighborhood ranks 192nd out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods (A rating), indicating competitive standing within the metro. Renter-occupied housing concentration is among the highest in the region (ranked 5th of 1,441), which signals a large, durable renter pool for multifamily.
The property s 1986 vintage is newer than the area s older average construction year (1966). That positioning can provide a competitive edge versus older stock, while still leaving room for targeted modernization and systems upgrades to enhance performance and reduce near-term capital surprises.
Demographic statistics are aggregated within a 3-mile radius: households have increased modestly in recent years and are projected to grow further as average household size trends lower. This dynamic typically translates into a larger tenant base and supports occupancy stability for well-located multifamily. With rents positioned against solid median incomes and a rent burden that appears manageable, operators can focus on lease management and renewal strategies rather than frequent turnover.
Safety indicators are comparatively favorable. The neighborhood is in the top quartile nationally for safety based on overall crime measures, and trends show notable year-over-year declines in both property and violent offense rates, according to CRE market data from WDSuite. Within the Los Angeles-Long Beach-Glendale metro, this area is competitive relative to many peer neighborhoods (benchmarked against 1,441 neighborhoods), supporting renter appeal and lease retention.
Nearby employment anchors create commute convenience for residents and help sustain multifamily demand, including Avery Dennison, Disney, Radio Disney, Live Nation Entertainment, and Microsoft.
- Avery Dennison corporate offices (1.2 miles) HQ
- Disney corporate offices (4.0 miles) HQ
- Radio Disney corporate offices (4.8 miles)
- Live Nation Entertainment corporate offices (5.5 miles)
- Microsoft corporate offices (6.0 miles)
320 W Lomita Ave offers investors a 22-unit, 1986-vintage asset in a renter-heavy Glendale neighborhood with strong amenity access and above-average occupancy. The vintage is newer than the neighborhood s older building stock, suggesting competitive positioning versus legacy assets while leaving room for value-add upgrades to interiors, common areas, and building systems. Demographic statistics aggregated within a 3-mile radius indicate modest recent household growth with a projected increase alongside smaller household sizes, which typically supports a larger renter pool and steadier absorption.
Based on commercial real estate analysis from WDSuite, neighborhood safety trends are favorable, and dense nearby employment anchors help underpin leasing. While the submarket shows limited park space and slightly negative population growth at the neighborhood level, rent burdens appear manageable relative to incomes, which can aid retention and reduce turnover risk with disciplined lease management.
- Renter-heavy location with competitive metro ranking supports demand depth and occupancy stability.
- 1986 vintage is newer than area norms, with potential upside from targeted modernization.
- Amenity-rich Urban Core setting and proximity to major employers bolster leasing and retention.
- Safety indicators trend favorable, adding to renter appeal and operational predictability.
- Risks: limited park access and modest population softness; mitigate with value-add execution and focused leasing.