| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 64th | Good |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 Riverdale Dr, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2003-12-23 |
| Transaction Price | $2,970,000 |
| Buyer | JENSEN LES |
| Seller | PEDERSEN PASCAL |
400 Riverdale Dr Glendale Multifamily Investment
Neighborhood-level renter demand is deep and occupancy has trended resilient, according to WDSuite’s CRE market data, supporting consistent leasing for a 20-unit asset in Glendale. This submarket’s high-cost ownership landscape further sustains the tenant base relative to for-sale options.
The property sits in an Urban Core neighborhood rated A and ranked 124 among 1,441 Los Angeles–Long Beach–Glendale metro neighborhoods, placing it in the competitive tier locally and top quartile nationally for overall performance. Amenity density is a strength: restaurants and cafes benchmark in the mid‑90s national percentiles, with grocery and parks also above national norms, which tends to support renter retention and everyday convenience.
Neighborhood occupancy is above the national average (66th percentile), and the share of renter‑occupied housing is very high (99th percentile), indicating a deep tenant pool for multifamily operators. Median asking rents at the neighborhood level sit in the upper tier nationally with solid 5‑year growth, pointing to durable pricing power when paired with active amenity clusters and commuting access typical of central Glendale.
Public school ratings in the neighborhood average 4.0 and test in the mid‑80s national percentile, another stability factor for longer‑term renters. At the same time, elevated home values (98th percentile nationally) characterize a high‑cost ownership market, which tends to reinforce reliance on multifamily housing and can bolster lease retention in professionally managed assets.
Construction in the immediate area skews older (average vintage around 1950). With a 1987 build, this asset is newer than much of the local stock, which may enhance competitiveness versus pre‑war and mid‑century properties; investors should still plan for targeted system updates or modernization to meet current renter expectations.
Within a 3‑mile radius, households have inched higher even as population has edged down slightly, suggesting smaller household sizes and a steady renter pool. Forward-looking estimates indicate further increases in households alongside rising incomes and rents, which supports occupancy stability and ongoing demand for well‑located multifamily units.
Safety metrics are comparatively favorable for this neighborhood: crime levels rank better than most areas in the Los Angeles metro (ranked 175 among 1,441 neighborhoods) and score in the low‑80s national percentile, indicating a top‑quartile standing versus neighborhoods nationwide. Recent year‑over‑year declines in both property and violent offense rates also point to improving trends at the neighborhood level.
As with any urban core location, conditions can vary block to block. Investors typically evaluate on‑site security, lighting, and access controls to align with submarket norms and support resident retention.
Nearby corporate offices provide a diverse employment base that supports renter demand and commute convenience for workforce and professional tenants. The list below highlights prominent employers within a short drive that commonly contribute to leasing depth in Glendale and adjacent studio/office corridors.
- Avery Dennison — corporate offices (1.3 miles) — HQ
- Disney — corporate offices (3.9 miles) — HQ
- Radio Disney — corporate offices (4.7 miles)
- Live Nation Entertainment — corporate offices (5.4 miles)
- CBRE Group — corporate offices (6.0 miles) — HQ
This 20‑unit, 1987‑built property benefits from an Urban Core neighborhood that ranks competitive within the Los Angeles metro and top quartile nationally on several renter‑relevant dimensions. The area shows above‑average occupancy, a very high concentration of renter‑occupied units, strong amenity access, and public school ratings that benchmark well nationally. Elevated ownership costs in the neighborhood underpin sustained reliance on multifamily, supporting leasing durability and rent performance.
Within a 3‑mile radius, households have increased and are projected to expand further even as overall population trends remain flat to slightly negative—signaling smaller household sizes and continued demand for rental housing. According to CRE market data from WDSuite, neighborhood rent and NOI benchmarks sit in the upper national percentiles, suggesting pricing power potential for well‑maintained assets. Given its vintage relative to older local stock, the property can compete effectively with targeted modernization to capture demand while actively managing affordability pressure and lease retention.
- Competitive Urban Core location with top‑quartile national standing and strong amenity access
- Deep renter pool: neighborhood renter‑occupied share is very high, supporting occupancy stability
- 1987 vintage offers relative edge versus older area stock, with value‑add upgrades to enhance positioning
- Household growth within 3 miles and high ownership costs reinforce multifamily demand and retention
- Risk: elevated rent‑to‑income ratios call for careful lease management and renewal strategies