| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Good |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 378 Myrtle St, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
378 Myrtle St Glendale Multifamily Investment
Renter demand at the neighborhood level appears durable, supported by strong amenity access and a high share of renter-occupied housing, according to WDSuite’s CRE market data. Occupancy in the surrounding area has remained resilient, suggesting stable cash flow potential.
Located in Glendale’s Urban Core, the property benefits from a neighborhood that ranks 116 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, positioning it as competitive within the metro. Amenity access is a clear strength: cafes, restaurants, groceries, pharmacies, and parks all benchmark in very high national percentiles, which supports daily convenience and helps retention.
Neighborhood occupancy is in the mid-90s and has trended modestly higher over five years, indicating demand that has held up through cycles. The area’s renter-occupied share is elevated (upper national percentiles), signaling a deep tenant base for multifamily assets and consistent leasing velocity for similarly positioned properties.
With median contract rents in the area well above national levels and up materially over five years, Glendale functions as a high-cost ownership market. Home values in the neighborhood cluster near the upper national percentiles, which tends to sustain reliance on rentals and supports pricing power, while the neighborhood’s rent-to-income ratio suggests some affordability pressure that owners should manage through lease strategies and unit positioning.
Demographic statistics aggregated within a 3-mile radius point to a slight population drift lower but a stable to rising household count now and in the forecast period. Smaller average household sizes and projected income gains indicate a renter pool that can expand in terms of household formation even as population edges down, which can support occupancy stability for well-located multifamily. These themes are consistent with broader Los Angeles metro dynamics noted in commercial real estate analysis from WDSuite.
Vintage context: The neighborhood’s average construction year skews to the late 1970s. A 1986 asset can be relatively competitive against older stock, though investors should underwrite ongoing modernization (systems, finishes, common areas) to maintain positioning versus newer deliveries.
Safety indicators are mixed but comparatively favorable versus many parts of the region. The neighborhood’s overall crime standing is competitive among Los Angeles-Long Beach-Glendale areas (ranked 524 out of 1,441, which is better than the metro median) and sits around the upper half nationally (approximately the 68th percentile for safety). Property-related offenses benchmark in strong national percentiles, while violent offense levels also sit above national averages for safety, though year-over-year volatility in violent incidents warrants monitoring.
Investors should frame these signals at the neighborhood level rather than block-by-block and track trends over time. The directional takeaway is that safety compares favorably within the metro, with recent fluctuations in certain categories that call for routine review during hold periods.
Proximity to major corporate employers supports a broad white-collar tenant base and commute convenience that can aid retention. Nearby firms span materials, media/entertainment, and communications, aligning with the leasing profile observed in this Glendale location.
- Avery Dennison — materials & labeling (0.5 miles) — HQ
- Disney — entertainment (3.7 miles) — HQ
- Radio Disney — media (4.6 miles)
- Live Nation Entertainment — entertainment (5.8 miles)
- Charter Communications — telecommunications (5.9 miles)
This 26-unit, 1986-vintage asset sits in a high-amenity Glendale neighborhood where renter concentration and steady neighborhood occupancy support durable demand. Elevated home values and above-national rents point to a market that relies on rentals, while proximity to major employers underpins a diverse white-collar tenant base. According to CRE market data from WDSuite, the neighborhood’s performance sits competitively within the Los Angeles-Long Beach-Glendale metro, with national benchmarking that supports long-term leasing stability.
Relative to the neighborhood’s older average vintage, a 1986 property can compete well against nearby 1970s stock, though investors should plan for targeted modernization to sustain positioning. Demographic data within a 3-mile radius show stable-to-rising household counts and income growth alongside smaller household sizes, which can expand the renter pool even if population levels are flat to slightly lower. Affordability pressure is a consideration, making unit mix, pricing, and renewal strategies important to maintain occupancy and collections through cycles.
- Competitive neighborhood standing in the Los Angeles metro with strong amenity access supporting retention
- High renter-occupied share and resilient area occupancy indicate depth of tenant demand
- 1986 vintage offers relative edge over older stock with value-add and modernization potential
- Proximity to major employers bolsters leasing velocity and renewal prospects
- Risks: affordability pressure and crime-category volatility require disciplined pricing and active asset management