| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Good |
| Amenities | 99th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 428 W Lexington Dr, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1988 |
| Units | 28 |
| Transaction Date | 1997-01-23 |
| Transaction Price | $1,950,000 |
| Buyer | GLANDIAN EGLON |
| Seller | OHANIAN INVESTMENT CORP |
428 W Lexington Dr Glendale Multifamily Investment
Renter demand is supported by a high concentration of renter-occupied units and steady neighborhood occupancy, according to WDSuite’s CRE market data. This location favors stable leasing in an Urban Core pocket of Glendale with strong daily-life amenities.
This Urban Core neighborhood ranks 116 of 1,441 within the Los Angeles-Long Beach-Glendale metro, placing it in the top quartile locally for overall performance. Amenity density is a clear strength: cafes, restaurants, parks, groceries, and pharmacies score in the upper national percentiles, reinforcing walkable convenience that typically supports retention and lease-up.
Neighborhood renter concentration is high (measured as the share of housing units that are renter-occupied), indicating a large tenant base for multifamily. Compared with the metro, occupancy is competitive and has trended upward over the past five years, supporting income durability for stabilized assets. Elevated home values relative to incomes point to a high-cost ownership market, which often sustains reliance on rental housing and can provide pricing power for well-positioned properties.
Within a 3-mile radius, recent data show households edging higher even as population is roughly flat to slightly lower, implying smaller household sizes and a steady flow of renters entering the market. Forecasts point to further increases in households alongside higher median incomes, which can broaden the renter pool and support rent growth management. These dynamics align with investor interest in professionally managed, well-located multifamily where day-to-day amenities are abundant.
The property’s 1988 vintage is newer than the neighborhood’s average construction year, suggesting relative competitiveness versus older stock. Investors should still plan for system updates and selective renovations to meet current renter expectations and to capture value-add upside where feasible, based on commercial real estate analysis from WDSuite.
Safety indicators present a mixed but constructive picture at the neighborhood level. Overall crime ranks competitively among Los Angeles-Long Beach-Glendale neighborhoods (524 of 1,441), with national percentiles indicating comparatively better-than-average conditions versus many urban peers. Recent data show a notable decline in property offenses year over year, while violent offense measures sit above the national average but warrant monitoring due to a recent uptick.
For investors, the takeaway is to underwrite to current trends and maintain standard security and lighting improvements typical for Urban Core assets. As always, evaluate time-of-day patterns and property-level measures rather than relying solely on area statistics.
The employment base nearby blends corporate headquarters and major media offices that support steady renter demand through short commutes and diversified white-collar jobs. The list below highlights key employers within a commutable radius that can underpin leasing and retention.
- Avery Dennison — corporate offices (0.5 miles) — HQ
- Disney — media & entertainment (3.6 miles) — HQ
- Radio Disney — media & entertainment (4.5 miles)
- Charter Communications — telecommunications (5.8 miles)
- Live Nation Entertainment — media & entertainment (5.8 miles)
428 W Lexington Dr is positioned in a top-quartile Los Angeles metro neighborhood where amenity density and a high share of renter-occupied housing units support multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy has been resilient, and elevated ownership costs in the area tend to reinforce renter reliance on professionally managed apartments. The 1988 construction is newer than the neighborhood’s average vintage, offering a competitive baseline versus older stock with potential to capture value through targeted updates.
Within a 3-mile radius, households are rising even as population trends are flat to modestly lower, indicating smaller household sizes and a sustained renter pool. Combined with strong proximity to major employers and everyday amenities, these dynamics support leasing stability and measured rent growth management, while prudent underwriting should account for renter affordability pressure and normal Urban Core operating considerations.
- Top-quartile neighborhood in the Los Angeles metro with strong amenity access that supports retention
- High renter-occupied share suggests deep tenant base and steady multifamily demand
- 1988 vintage offers competitive positioning versus older stock with value-add potential via selective renovations
- Employer proximity and Urban Core convenience bolster leasing and pricing power
- Risks: renter affordability pressure and mixed safety signals call for disciplined lease and operating management