| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 333 Monterey Rd, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1993 |
| Units | 75 |
| Transaction Date | 2022-06-08 |
| Transaction Price | $19,500,000 |
| Buyer | 333 MONTEREY ROAD LP |
| Seller | SOROPTIMIST GARDENS HOUSING CORPORATION |
333 Monterey Rd, Glendale Multifamily Investment
Renter-occupied housing is prevalent in this Glendale urban core, supporting a deeper tenant base and consistent leasing potential, according to WDSuite’s CRE market data. Neighborhood occupancy trends and amenity access suggest stable day-to-day livability with pricing power influenced by a high-cost ownership market.
Located in Glendale within the Los Angeles-Long Beach-Glendale metro, the neighborhood scores competitively overall (top quartile among 1,441 metro neighborhoods), with amenities as a clear strength. Amenity access ranks near the top of the metro (competitive among Los Angeles-Long Beach-Glendale neighborhoods) and in the top decile nationally, supported by dense coverage of groceries, restaurants, childcare, and pharmacies. This depth typically underpins resident satisfaction and retention for multifamily assets.
Renter-occupied housing accounts for a large share of neighborhood units (above metro norms), indicating a sizable tenant base for apartments. Neighborhood occupancy is lower than national averages, which points to the importance of active leasing and renewal management; however, nearby amenity density and steady renter demand have historically supported absorption in similar urban-core locations.
Within a 3-mile radius, households have grown modestly even as population edged down, implying smaller household sizes and continued demand for rental options. Forward-looking projections indicate additional household growth and a smaller average household size, which can expand the renter pool and support occupancy stability for well-located properties.
Home values are elevated relative to incomes (top national percentiles), which reinforces reliance on rental housing and can support pricing power. At the same time, rent-to-income ratios indicate affordability pressure for some cohorts, a factor investors should manage via renewal strategy and amenity positioning. Average school ratings in the area sit around the national middle, suggesting broader demand drivers may lean more toward access and convenience than school-sensitive segments.
Comparable crime statistics for this specific neighborhood are not available in the current WDSuite release. Investors often contextualize safety by reviewing broader Los Angeles-Long Beach-Glendale trends and on-the-ground observations over multiple dayparts, then aligning operating assumptions (marketing, security, and staffing) with the property’s urban-core context.
The immediate area draws from a diverse corporate base that supports renter demand through short commutes and professional employment, including Avery Dennison, Disney, Radio Disney, Charter Communications, and Live Nation Entertainment.
- Avery Dennison — materials & labeling (0.3 miles) — HQ
- Disney — media & entertainment (4.2 miles) — HQ
- Radio Disney — media (5.2 miles)
- Charter Communications — telecommunications (6.1 miles)
- Live Nation Entertainment — live entertainment offices (6.6 miles)
333 Monterey Rd is a 75-unit, 1993-vintage asset in a Glendale urban-core neighborhood that ranks in the top quartile locally, with amenity access in the top decile nationally. The building’s vintage is newer than the neighborhood average, suggesting competitive positioning versus older stock; selective modernization of finishes and systems may enhance rentability without the full scope of heavy repositioning. Elevated home values relative to incomes indicate a high-cost ownership market that supports sustained rental demand, while a large share of renter-occupied housing units points to depth in the tenant base. Based on CRE market data from WDSuite, neighborhood occupancy sits below national norms, making disciplined leasing, renewals, and unit-turn execution key to capturing demand from the area’s strong amenity and employment base.
Within a 3-mile radius, households have trended up and are projected to increase further even as average household size declines—conditions that typically expand the renter pool and support lease-up and retention for well-located properties. Income growth in the area supports rents, though rent-to-income ratios signal affordability pressure in some segments; prudent rent-setting and value-oriented upgrades can balance occupancy and revenue. The employment base features nearby corporate offices across media, telecom, and advanced materials, supporting weekday activity and leasing stability.
- 1993 construction offers competitive standing versus older local stock, with targeted upgrades to drive rentability.
- High-cost ownership market reinforces reliance on multifamily, supporting pricing power and lease retention.
- Strong amenity access and proximity to major employers underpin day-to-day livability and leasing velocity.
- Household growth and smaller household sizes within 3 miles expand the renter pool and support occupancy stability.
- Risks: neighborhood occupancy below national norms and affordability pressure; requires active leasing and renewal discipline.