| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 413 N Adams St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1988 |
| Units | 58 |
| Transaction Date | 2016-01-04 |
| Transaction Price | $21,100,000 |
| Buyer | Sikder Family Trust |
| Seller | 413 Adams Street Associates, LP |
413 N Adams St Glendale Multifamily Investment
This 58-unit property benefits from strong neighborhood-level renter demand, with 71.2% of housing units occupied by renters ranking in the 97th percentile nationally according to CRE market data from WDSuite.
The property sits in an Urban Core neighborhood that ranks 175th among 1,441 Los Angeles metro neighborhoods, earning an A rating with strong amenity access. Demographic data aggregated within a 3-mile radius shows 68% of housing units are renter-occupied, supporting consistent rental demand. The area features high amenity density with 6.95 grocery stores per square mile (98th percentile nationally) and 22 restaurants per square mile (97th percentile), enhancing tenant retention appeal.
Built in 1988, this property aligns with the neighborhood's 1974 average construction year, positioning it for potential value-add opportunities through strategic renovations. The neighborhood demonstrates solid rental fundamentals with a median contract rent of $1,943 and 40% rent growth over five years. However, neighborhood-level occupancy of 88.8% has declined 5.4 percentage points, warranting attention to lease management and tenant retention strategies.
Population projections within the 3-mile radius indicate stable household growth, with forecasted household count increases of 32% through 2028, expanding the potential tenant base. The area's median household income of $88,762 supports rental affordability, though investors should monitor the rent-to-income ratio of 0.34, which ranks in the bottom quartile nationally, suggesting affordability pressures that may impact renewal rates and pricing power.
Safety data for this neighborhood is currently unavailable in the provided market analysis. Investors should conduct independent due diligence on local crime trends and security considerations as part of their comprehensive property evaluation. Consider reviewing recent police reports, consulting with local property management companies, and assessing neighborhood patrol presence to inform risk management strategies.
The property benefits from proximity to several major corporate headquarters and offices, providing workforce housing opportunities for employees seeking convenient commute options.
- Avery Dennison — materials and manufacturing (0.9 miles) — HQ
- Disney — entertainment and media (4.7 miles) — HQ
- Radio Disney — broadcasting (5.7 miles)
- Charter Communications — telecommunications (6.7 miles)
- Microsoft — technology (6.9 miles)
This 58-unit property constructed in 1988 offers value-add potential in a high-amenity Urban Core location with strong renter demographics. The neighborhood's 71.2% renter occupancy rate ranks in the 97th percentile nationally, indicating robust rental demand fundamentals. Demographic projections show household growth of 32% through 2028, expanding the potential tenant pool and supporting long-term occupancy stability.
According to multifamily property research from WDSuite, the area generates strong NOI per unit averaging $12,210, ranking in the 89th percentile nationally. However, investors should note the declining neighborhood occupancy trend and rent-to-income pressures that may require active lease management and competitive positioning strategies.
- Strong renter demand with 71.2% rental occupancy ranking 97th percentile nationally
- Proximity to major employers including Avery Dennison headquarters and Disney campus
- High amenity density with grocery and restaurant access supporting tenant retention
- Value-add opportunity through strategic renovations of 1988-vintage property
- Risk consideration: Declining neighborhood occupancy and affordability pressures require active management