| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 321 N Cedar St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 1997-04-24 |
| Transaction Price | $1,690,000 |
| Buyer | LIN CHUN HSU |
| Seller | KIM DONG S AND ROSA TRS KIM TRUST |
321 N Cedar St Glendale Multifamily Investment Opportunity
Positioned in Glendale with strong neighborhood amenities and a deep renter base this asset offers durable demand drivers and value-add potential, according to WDSuite s CRE market data. Investor focus: tenant retention and prudent upgrades to strengthen long-run performance.
The property sits in an Urban Core neighborhood that ranks 175 out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, placing it in the top quartile nationally for overall quality. Amenity access is a clear strength: restaurant, grocery, and pharmacy densities test in the mid- to high-90s national percentiles, supporting daily needs and walkable convenience.
Rents in the neighborhood have risen materially over the past five years, and the median rent level is high relative to most U.S. neighborhoods. While neighborhood occupancy is below the national median, the area s strong amenity profile and workforce access provide support for leasing velocity when units are competitively positioned.
The asset s 1986 vintage is newer than the neighborhood s average 1974 construction year, giving it a relative competitive edge versus older stock. Targeted modernization of finishes and systems can further differentiate the property and help capture demand without overextending capital plans.
Tenure patterns indicate a high concentration of renter-occupied housing (well above most U.S. neighborhoods), which points to a deep tenant base and ongoing multifamily demand. In a high-cost ownership market where home values sit well above national norms, sustained renter reliance on multifamily housing can support pricing power and retention for well-managed assets.
Within a 3-mile radius, demographics show households edging higher even as population has softened slightly a signal of shrinking household sizes. Forecasts indicate continued growth in household counts and income gains, which can expand the renter pool and support occupancy stability for competitive properties.
Neighborhood-level crime benchmarks are not available in this dataset. Investors typically compare recent city and metro trends, then pair that with property-level operations (lighting, access control, and visibility) to manage risk. Consider reviewing official municipal reports and insurance guidance to round out underwriting assumptions.
Nearby corporate offices in packaging, media and entertainment, and telecommunications create a sizable employment base that supports renter demand and commute convenience for workforce tenants. The list below reflects proximate anchors most relevant to leasing stability.
- Avery Dennison packaging & materials (0.8 miles) HQ
- Disney media & entertainment (4.6 miles) HQ
- Radio Disney media offices (5.6 miles)
- Live Nation Entertainment entertainment offices (6.6 miles)
- Charter Communications telecommunications (6.6 miles)
321 N Cedar St offers 22 units in a high-amenity Glendale location with a deep renter base and proximity to major employers. The 1986 construction is newer than the neighborhood average, suggesting a competitive position versus older stock, with room for focused value-add upgrades to enhance rents and retention. In a high-cost ownership market, multifamily remains an essential housing option that can underpin steady demand.
Neighborhood occupancy trends sit below national medians, so execution matters; however, amenity density and an expanding household base within a 3-mile radius support leasing durability. According to CRE market data from WDSuite, the area s rent levels are elevated relative to national norms, reinforcing the case for quality management and targeted improvements. Affordability pressure implies close attention to renewals and unit turns to sustain performance.
- Newer 1986 vintage vs. local average supports competitive positioning with targeted modernization upside
- High-amenity, employment-rich Glendale location aids leasing velocity and tenant retention
- Deep renter concentration and high-cost ownership context bolster multifamily demand
- Household growth within 3 miles points to a larger renter pool over time
- Risk: Neighborhood occupancy below national median and affordability pressure require disciplined lease management