| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 63rd | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 N Central Ave, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 98 |
| Transaction Date | 2018-03-27 |
| Transaction Price | $27,500,000 |
| Buyer | 520 NORTH CENTRAL PROPERTY OWNER LLC |
| Seller | NORTH CENTRAL PROPERTY OWNER LLC |
520 N Central Ave Glendale Multifamily Opportunity
High renter concentration and a deep amenities base in Glendale support durable tenant demand, according to WDSuite’s CRE market data. Proximity to major employers adds leasing resilience while ownership costs in the area tend to keep households in the rental market.
The property sits in Glendale’s Urban Core, an A-rated neighborhood that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 99 out of 1,441). Amenity access is a clear strength: restaurants, grocery options, parks, pharmacies, and cafes all track in the top percentiles nationally, which helps support renter retention and day-to-day livability for a workforce tenant base.
Neighborhood housing is slightly older on average, and this asset’s 1986 construction is somewhat newer than the local vintage (1981). That positioning can be advantageous versus older comparables, though investors should still plan for targeted modernization and system upgrades typical for 1980s product to maintain competitiveness.
Renter-occupied share is elevated at the neighborhood level, indicating a deep base of households that rely on multifamily housing. This depth, paired with strong amenity access, supports leasing velocity even when occupancy in the neighborhood trends near the national midrange. Elevated home values and a high value-to-income ratio in the area reinforce renter reliance on multifamily, which can aid pricing power with careful lease management.
Within a 3-mile radius, demographics show stable to slightly soft population trends alongside an increase in households and a smaller average household size over time. That combination points to a larger pool of renting households even without headline population growth, supporting occupancy stability. Looking ahead, forecasts indicate further growth in households and incomes within the 3-mile radius, which can expand the renter pool and underpin rent levels.
Compared with neighborhoods nationwide, this area scores in the higher safety percentiles, placing it in the top quartile nationally. Within the Los Angeles-Long Beach-Glendale metro, the neighborhood ranks strongly (31 out of 1,441), indicating comparatively favorable conditions versus most local peers. Recent year-over-year trends also point to declining estimated offense rates, which supports an investor view of manageable safety risk for typical multifamily operations.
Nearby corporate offices create a strong employment base for renters, with short commutes to headquarters and major media and communications employers that can support leasing stability and retention. The list below reflects the closest anchors likely to influence renter demand in this pocket of Glendale and adjacent submarkets.
- Avery Dennison — corporate offices (0.24 miles) — HQ
- Disney — entertainment headquarters (3.89 miles) — HQ
- Radio Disney — media offices (4.84 miles)
- Charter Communications — telecommunications offices (5.92 miles)
- Live Nation Entertainment — entertainment offices (6.14 miles)
520 N Central Ave is positioned in an amenity-rich Glendale micro-market with a high concentration of renter-occupied housing and strong access to major employment centers. Based on CRE market data from WDSuite, neighborhood safety indicators are favorable relative to both the metro and national benchmarks, while elevated ownership costs in the area reinforce reliance on rental housing, supporting demand depth and potential pricing power with disciplined lease management.
Built in 1986, the property is somewhat newer than much of the immediate stock, suggesting competitive positioning versus older assets and selective value-add opportunities through modernization. Within a 3-mile radius, households are projected to increase as average household size trends lower, which can expand the renter pool even as population growth remains muted—supporting occupancy stability over a longer horizon. Key risks include affordability pressure relative to incomes and neighborhood occupancy that sits around national midrange, both of which call for prudent renewal strategies and ongoing asset differentiation.
- Amenity-rich Urban Core location with top-tier national access to food, retail, parks, and services
- High renter-occupied share at the neighborhood level supports a deep, stable tenant base
- 1986 vintage provides a competitive edge versus older stock, with targeted modernization upside
- Proximity to major employers underpins leasing velocity and retention potential
- Watchpoints: affordability pressure and midrange neighborhood occupancy require active lease and capital planning