| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 44th | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3673 San Fernando Rd, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 2009 |
| Units | 68 |
| Transaction Date | 1998-06-06 |
| Transaction Price | $350,000 |
| Buyer | 3685 SAN FERNANDO ROAD PARTNERS LP |
| Seller | MCELROY WILLIAM E |
3673 San Fernando Rd Glendale Multifamily Investment
Positioned in an Urban Core pocket of Glendale with a deep renter base, the property benefits from neighborhood occupancy that has held in a typical range and a high share of renter-occupied housing units, according to WDSuite’s CRE market data. Newer construction relative to area stock supports leasing competitiveness and retention.
Glendale’s Urban Core location delivers daily-life convenience that supports renter appeal. Neighborhood amenities test in the top decile nationally for groceries, cafes, restaurants, and pharmacies, helping underpin leasing velocity and day-to-day livability for residents. This area ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods overall, signaling competitive fundamentals rather than outlier risk.
With the average neighborhood building vintage around the mid-20th century, a 2009 asset stands newer than much of the local stock. That positioning typically provides an edge on finishes and systems versus older comparables, though investors should plan for periodic modernization as the asset ages to sustain competitive standing.
The neighborhood shows a high renter concentration (measured as the share of housing units that are renter-occupied), indicating a deep tenant pool and consistent multifamily demand. Within a 3-mile radius, demographic statistics point to modest population slippage alongside an increase in households, suggesting smaller household sizes and a larger renter pool entering the market—factors that can support occupancy stability and lease-up predictability. Home values sit in a high-cost ownership market relative to national norms, which tends to sustain reliance on multifamily housing and support pricing power when balanced against rent-to-income levels.
Rents at the neighborhood level trend above national averages, while the local rent-to-income profile indicates manageable affordability pressure for many renters—favorable for retention and renewals. For investors conducting multifamily property research, these dynamics point to durable demand drivers backed by CRE market data from WDSuite, rather than short-term catalysts.
Safety indicators benchmark favorably at the national level, with both violent and property offense measures placing this neighborhood in higher national percentiles compared with many U.S. areas. Recent year-over-year declines in estimated offense rates further reinforce an improving trend. As always, investors should evaluate property-level measures and sub-area nuances as part of on-site diligence, but the broader read shows comparative strength rather than elevated risk.
- Avery Dennison — materials & labeling (2.4 miles) — HQ
- Disney — media & entertainment (4.7 miles) — HQ
- Microsoft — technology offices (4.8 miles)
- Reliance Steel & Aluminum — metals & distribution (4.9 miles) — HQ
- CBRE Group — commercial real estate services (4.9 miles) — HQ
A diversified employment base nearby supports demand for workforce and professional renters, with strong corporate offices offering short commutes that can aid leasing stability and retention. The list below highlights major employers within a roughly 2–5 mile radius.
3673 San Fernando Rd offers a 68-unit, 2009-vintage asset positioned newer than surrounding stock, which can help sustain competitiveness against older comparables. Neighborhood rents trend above national norms and the local ownership market is high-cost, reinforcing reliance on rental housing and supporting pricing power and lease retention when managed against affordability. According to CRE market data from WDSuite, the area’s renter concentration and amenity depth point to a durable tenant base, while neighborhood occupancy has remained in a typical range rather than signaling distress.
Within a 3-mile radius, demographics show modest population drift lower but an increase in households, implying smaller household sizes and a larger renter pool over time. Forward-looking projections indicate additional household growth alongside income gains, which can underpin demand for well-located, professionally managed units. Investors should weigh these strengths against mid-range school ratings and normalizing occupancy trends, approaching underwriting with pragmatic expectations on lease-up pace and renewal management.
- 2009 construction provides relative competitive edge versus older neighborhood stock, with planned updates sustaining positioning
- High renter-occupied share supports a deeper tenant base and steady multifamily demand
- Amenity-rich Urban Core location aids leasing velocity and day-to-day resident satisfaction
- High-cost ownership market reinforces reliance on rentals, supporting pricing power and retention
- Risks: mid-range school ratings and typical (not elevated) occupancy trends warrant measured underwriting on rent growth and renewals