| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Good |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 Ivy St, Glendale, CA, 91204, US |
| Region / Metro | Glendale |
| Year of Construction | 1984 |
| Units | 30 |
| Transaction Date | 2020-08-14 |
| Transaction Price | $9,457,500 |
| Buyer | GGF LLC |
| Seller | YUSUF MICHAEL MAJID |
405 Ivy St Glendale Multifamily Investment in Urban Core
Neighborhood occupancy trends in the mid-90s and a deep renter base point to durable leasing fundamentals, according to WDSuite’s CRE market data, with amenity density and high-cost ownership reinforcing rental demand.
The property sits in Glendale’s Urban Core, an A-rated neighborhood that ranks 116 out of 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods—placing it in the top quartile locally based on overall performance. Amenity density is a clear advantage: cafes and restaurants are among the highest concentrations nationally (both at the 100th percentile), and parks, groceries, and pharmacies also score in the high-90s percentiles. For multifamily, this walkable convenience supports day-to-day livability and helps with leasing velocity and retention.
Multifamily dynamics in the surrounding neighborhood indicate healthy renter demand. The neighborhood occupancy rate is 94.1% with a modest five-year improvement, and approximately 77.7% of housing units are renter-occupied—signaling a sizable tenant base. Median contract rents are elevated relative to many U.S. areas, while the rent-to-income ratio near 0.32 suggests affordability pressure that owners should manage with thoughtful renewals and amenity positioning. Elevated home values and a high value-to-income ratio indicate a high-cost ownership market, which generally sustains reliance on rental housing and can support pricing power through cycles.
Vintage considerations matter: the asset was built in 1984, newer than the neighborhood’s average construction year of 1976. That positioning can be competitive against older stock while still warranting targeted modernization (systems, interiors, and common areas) to maintain pricing relative to newly delivered product.
Demographic statistics are aggregated within a 3-mile radius. Over the last five years, the local population edged down slightly while households inched higher, pointing to smaller household sizes and a renter pool that is steady to expanding. Looking ahead, forecasts show household counts rising meaningfully even as population trends remain mixed, which implies a larger tenant base and supports occupancy stability. The current renter-occupied share within this radius is roughly two-thirds to three-quarters, reinforcing depth of demand for multifamily. These trends, paired with Urban Core amenities, align with investor interest in locations that balance convenience and leasing durability based on commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood are mixed but comparatively favorable at a high level. The neighborhood’s crime rank places it above the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, and its national crime percentile is around the upper third—suggesting conditions that are better than many U.S. neighborhoods. Property offense indicators are notably strong, with the neighborhood in a high national percentile for lower property crime and showing recent improvement.
Violent offense metrics track above the national average (higher percentile is safer), yet recent year-over-year change shows some deterioration that owners should monitor. For investors, the takeaway is a generally favorable backdrop compared with national norms, with the caveat that localized trends can shift and merit ongoing review during due diligence and asset management.
Proximity to a diversified employment base underpins renter demand and commute convenience, including headquarters and major corporate offices for Avery Dennison, Disney, Radio Disney, Live Nation Entertainment, and Charter Communications.
- Avery Dennison — corporate offices (0.8 miles) — HQ
- Disney — corporate offices (3.7 miles) — HQ
- Radio Disney — corporate offices (4.6 miles)
- Live Nation Entertainment — corporate offices (5.7 miles)
- Charter Communications — corporate offices (6.0 miles)
405 Ivy St benefits from Urban Core fundamentals that support durable multifamily performance: high neighborhood occupancy, a renter-occupied share around three-quarters, and top-tier amenity access that underpins retention and leasing velocity. Elevated home values within the neighborhood context reinforce reliance on rental housing and help sustain pricing power through cycles, while the 1984 vintage is newer than the area’s 1976 average—positioning the asset competitively versus older stock and offering targeted value-add potential. According to CRE market data from WDSuite, neighborhood performance ranks in the top quartile locally, and recent household growth within a 3-mile radius points to a stable or expanding tenant base even as household sizes trend smaller.
Risks to underwrite include affordability pressure evident in rent-to-income levels and mixed safety trends over the past year. These are manageable with thoughtful renewal strategies, amenity/programming investments, and close monitoring of submarket conditions relative to metro benchmarks.
- Urban Core location with top-quartile neighborhood ranking among 1,441 metro neighborhoods supports leasing durability
- Deep renter-occupied base and mid-90s neighborhood occupancy support stable cash flow potential
- 1984 vintage is newer than local average, enabling competitive positioning with selective modernization
- High-cost ownership environment reinforces rental demand and pricing power for well-run assets
- Risk: affordability pressure and mixed near-term safety trends warrant careful renewal and asset management strategies