| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 457 W Lexington Dr, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1985 |
| Units | 28 |
| Transaction Date | 1993-12-21 |
| Transaction Price | $640,000 |
| Buyer | SASUNIAN SHAHAB |
| Seller | HAMLIN SARA L ZOOK |
457 W Lexington Dr Glendale Multifamily Investment
Renter concentration in the neighborhood and dense, walkable amenities support steady tenant demand, according to WDSuite’s CRE market data. Expect durable leasing interest driven by location fundamentals and daily-needs access.
Located in Glendale’s Urban Core within the Los Angeles-Long Beach-Glendale metro, the neighborhood ranks 99th of 1,441 metro neighborhoods, making it competitive among Los Angeles-Long Beach-Glendale neighborhoods and above the metro median. High amenity access stands out: cafes, groceries, restaurants, parks, and pharmacies all sit in the top national percentiles, reinforcing convenience that typically supports leasing velocity and retention.
The area’s renter-occupied share is elevated (neighborhood metric), landing in the 98th percentile nationally. For multifamily investors, that depth of renter households points to a broad tenant base and potential occupancy stability, even as the neighborhood’s occupancy rate trends around the national midpoint.
Within a 3-mile radius, demographics show a modest population dip alongside a small increase in household counts today and a projected larger increase in households by 2028. This pattern suggests smaller household sizes and potential renter pool expansion, which can underpin steady absorption and renewals for appropriately positioned product.
The property’s 1985 vintage is slightly newer than the neighborhood’s average construction year (1981). That positioning can be advantageous versus older stock, while still leaving room for targeted modernization to enhance competitiveness and capture rent premiums where feasible.
Home values in the neighborhood sit in a high national percentile and value-to-income ratios are elevated versus the nation, indicating a high-cost ownership market. For investors, that environment often sustains reliance on rental housing, supporting pricing power; however, rent-to-income levels (neighborhood metric) signal affordability pressure that warrants careful lease management and renewal strategies.
Neighborhood safety indicators compare favorably against both the metro and the nation. Crime ranks 31st out of 1,441 metro neighborhoods, and national percentiles sit in the high 80s for both violent and property offenses, placing the area in the top decile nationally for safety relative to neighborhoods nationwide.
Recent trends also point in a favorable direction: estimated violent and property offense rates show notable year-over-year declines at the neighborhood level. While safety can vary by block and over time, the directional improvement and strong comparative standing provide a constructive backdrop for tenant retention and leasing.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, with nearby corporate offices spanning materials, media, telecommunications, and entertainment.
- Avery Dennison — materials & packaging HQ (0.56 miles) — HQ
- Disney — entertainment studios (3.51 miles) — HQ
- Radio Disney — media offices (4.44 miles)
- Charter Communications — telecommunications (5.66 miles)
- Live Nation Entertainment — entertainment offices (5.75 miles)
457 W Lexington Dr offers 28 units with an average size near 900 square feet in a location where renter-occupied housing is prevalent and daily needs are within a short walk. Amenities score in the top national percentiles, reinforcing demand durability, while neighborhood occupancy sits near the national midpoint, suggesting that asset-level operations and product quality will be key to outperforming nearby comparables. The 1985 vintage is slightly newer than the neighborhood average, creating potential to compete against older stock with targeted renovations and operational upgrades.
Within a 3-mile radius, households are increasing even as population trends modestly lower, indicating smaller household sizes and a potential expansion of the renter pool. Elevated home values relative to incomes point to a high-cost ownership market that can sustain rental demand; at the same time, neighborhood rent-to-income levels introduce affordability pressure that should be managed through thoughtful renewal strategies and amenity-driven value creation, based on commercial real estate analysis from WDSuite.
- Dense, walkable amenities (top national percentiles) support leasing velocity and retention
- High renter-occupied share indicates a deep tenant base and potential occupancy stability
- 1985 vintage offers value-add and modernization angles versus older neighborhood stock
- Household growth within 3 miles suggests a larger renter pool despite modest population softness
- Risk: affordability pressure (neighborhood rent-to-income) and median-level occupancy require disciplined lease and expense management