| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 68th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 328 Mira Loma Ave, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 2008 |
| Units | 44 |
| Transaction Date | 2004-01-06 |
| Transaction Price | $1,395,000 |
| Buyer | M C INVESTMENTS |
| Seller | ACME RENTAL CO |
328 Mira Loma Ave Glendale Multifamily Investment
Neighboring blocks show stable renter demand and above-median neighborhood occupancy, according to WDSuite’s CRE market data, positioning this 44-unit asset for consistent leasing in an amenity-rich Glendale pocket.
Glendale’s Urban Core location offers daily convenience that supports renter retention. The neighborhood scores strongly for everyday needs with dense access to grocery, pharmacy, restaurants, cafes, and childcare options, placing it in the upper tier nationally for amenities while remaining competitive among Los Angeles-Long Beach-Glendale neighborhoods. These local dynamics typically translate to steady leasing interest and reduced turnover friction for well-managed assets.
Neighborhood occupancy is above the metro median and sits in the top quartile nationally, based on CRE market data from WDSuite. The share of housing units that are renter-occupied is exceptionally high for the metro, signaling a deep tenant base that can sustain absorption during normal leasing cycles. For investors, this suggests durable demand for professionally managed multifamily product close to jobs and services.
Within a 3-mile radius, households have grown recently even as total population edged modestly lower, indicating smaller average household sizes and a gradual shift toward more rental households. Projections call for additional household growth over the next five years alongside higher median incomes and rising asking rents, expanding the tenant base and supporting occupancy stability and pricing discipline.
Asset positioning: The property’s 2008 vintage is newer than the neighborhood’s older building stock (average year built skews mid-1960s). That typically enhances competitiveness on unit finishes, systems, and curb appeal versus legacy assets, while still warranting targeted modernization planning for mid-life building systems to support rent growth and minimize downtime.
Affordability and rents: Rents in this neighborhood track in the upper tier nationally and have shown robust five-year gains. In a high-cost ownership market like Los Angeles County, elevated purchase costs tend to reinforce reliance on rental housing, which can support lease-up velocity and pricing power; operators should balance this with thoughtful lease management to mitigate retention risk as rents rise.
Safety indicators for the neighborhood are comparatively strong versus many U.S. neighborhoods, landing in the top quartile nationally, according to WDSuite. However, relative to the 1,441 neighborhoods in the Los Angeles-Long Beach-Glendale metro, safety benchmarks track below the metro average, so investors should underwrite prudent security, lighting, and access-control measures consistent with urban-core operations.
WDSuite trend data shows meaningful year-over-year decreases in both violent and property offense rates locally. While no block-level conclusions should be drawn, these directional improvements, if sustained, can support resident satisfaction and renewal strategies over the hold period.
Proximity to major employers underpins a broad renter pool and commute convenience, with nearby headquarters and offices spanning packaging, media, technology, steel distribution, and commercial real estate services.
- Avery Dennison — packaging & labeling (2.3 miles) — HQ
- Disney — media & entertainment (4.5 miles) — HQ
- Microsoft — technology offices (4.9 miles)
- Reliance Steel & Aluminum — metals distribution (5.0 miles) — HQ
- CBRE Group — commercial real estate services (5.0 miles) — HQ
This 44-unit, 2008-vintage asset benefits from a renter-heavy Glendale neighborhood with above-median metro occupancy and strong national standing on amenities, supporting consistent leasing and renewal potential. The vintage is newer than much of the local stock, providing a competitive edge on finishes and systems while allowing for targeted value-add to capture rent premiums. According to CRE market data from WDSuite, the surrounding neighborhood’s rent levels rank in the upper tier nationally, reinforcing pricing power alongside a deep tenant base.
Investor considerations include underwriting urban-core operating practices and monitoring affordability pressure as rents rise, balanced by robust employer access and projected household growth within a 3-mile radius that should support renter pool expansion and occupancy stability over time.
- Renter-heavy neighborhood and above-median occupancy support steady absorption and renewals.
- 2008 construction offers competitive positioning versus older local stock with targeted value-add upside.
- Amenity-rich location near major employers underpins leasing velocity and tenant retention.
- Household growth and income gains within 3 miles expand the tenant base and support pricing discipline.
- Risks: urban-core safety positioning within the metro and potential retention pressure as rents rise; budget for security and renewal strategies.