| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Good |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 366 Myrtle St, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
366 Myrtle St Glendale Multifamily Investment Opportunity
Neighboring fundamentals point to durable renter demand and mid-90s neighborhood occupancy, according to WDSuite’s CRE market data. High renter concentration and strong amenity access support leasing stability for a 27-unit asset in Glendale.
The asset sits in an Urban Core neighborhood of Glendale rated A and positioned in the top quartile among 1,441 Los Angeles metro neighborhoods, based on WDSuite’s CRE market data. Neighborhood occupancy is approximately 94%, placing it above national norms and indicative of steady leasing conditions for multifamily.
Amenity density is a clear strength: restaurants, cafes, parks, groceries, and pharmacies register in very high national percentiles, reinforcing day-to-day convenience and supporting retention. While the neighborhood’s average school rating is not available, investors typically underwrite to local district and charter options separately when assessing family-oriented demand.
The building’s 1987 vintage is newer than the neighborhood’s average stock from the mid‑1970s, suggesting relative competitiveness versus older properties. Investors should still plan for system updates and modernization to capture value-add potential where finishes or common areas trail current renter expectations.
Tenure patterns at the neighborhood level show a high share of renter‑occupied housing units (near four‑fifths), which implies a broad tenant base and depth for leasing. Neighborhood NOI per unit benchmarks track in the top percentile nationally, highlighting the area’s income potential for stabilized assets relative to other locations.
Within a 3‑mile radius, demographics show modest population contraction alongside an increase in households to date, with forecasts pointing to continued household growth and smaller average household sizes. These shifts typically expand the renter pool for smaller formats and support occupancy stability, even as overall population trends remain mixed.
Ownership remains a high‑cost option in context, with elevated home values relative to incomes. That dynamic tends to reinforce reliance on multifamily rentals and can support pricing power, while higher rent‑to‑income ratios call for attentive lease management to mitigate retention risk.
Relative to neighborhoods nationwide, overall safety indicators place this area around the upper third, with violent‑offense measures stronger than average and property‑offense readings comparatively favorable. These percentiles compare neighborhoods nationwide, where higher percentiles indicate safer conditions.
Recent trends are mixed: estimates show a sharp year‑over‑year decline in property‑offense rates, while violent‑offense readings moved higher over the same period. Investors typically monitor submarket trends, coordinate with management on on‑site controls, and underwrite insurance and security line items accordingly.
Nearby corporate offices and headquarters provide a diversified employment base that supports renter demand and commute convenience, including Avery Dennison, Disney, Radio Disney, Charter Communications, and Live Nation Entertainment.
- Avery Dennison — corporate offices (0.5 miles) — HQ
- Disney — corporate offices (3.7 miles) — HQ
- Radio Disney — corporate offices (4.6 miles)
- Charter Communications — corporate offices (5.9 miles)
- Live Nation Entertainment — corporate offices (5.9 miles)
366 Myrtle St offers exposure to an A‑rated Urban Core pocket of Glendale with above‑average neighborhood occupancy, deep renter concentration, and exceptional amenity access. The 1987 vintage is newer than surrounding stock, creating a path for targeted renovations to enhance competitiveness while leveraging strong neighborhood NOI per‑unit benchmarks.
Within a 3‑mile radius, households are increasing and average household size is trending smaller, which typically expands the renter pool and supports occupancy stability. Elevated home values relative to incomes reinforce reliance on rental housing, while higher rent‑to‑income ratios warrant proactive lease management. According to commercial real estate analysis from WDSuite, these dynamics are consistent with durable demand drivers seen in comparable Urban Core submarkets.
- A‑rated Glendale location with above‑average neighborhood occupancy and dense amenities
- 1987 vintage offers value‑add potential and competitive positioning versus older stock
- High renter‑occupied share supports tenant base depth and leasing stability
- Household growth and smaller household sizes within 3 miles expand the renter pool
- Risks: upward pressure on rent‑to‑income ratios and mixed safety trends call for active management and prudent underwriting