| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 553 South St, Glendale, CA, 91202, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 35 |
| Transaction Date | 2002-12-20 |
| Transaction Price | $256,500 |
| Buyer | BESSMAN SAMUEL P |
| Seller | FRIEDKIN ROBERTA |
553 South St Glendale Multifamily Investment
This 35-unit property benefits from strong neighborhood-level occupancy at 95.5% and renter-dominated housing dynamics in an Urban Core location. CRE market data from WDSuite indicates the area ranks in the top quartile nationally for amenity access and grocery density.
Located in Glendale's Urban Core, this neighborhood demonstrates strong fundamentals for multifamily investment. With 64.8% of housing units occupied by renters and neighborhood-level occupancy at 95.5%, the area shows sustained rental demand. The location ranks in the top quartile nationally for amenities and grocery access, with 6.07 grocery stores per square mile supporting tenant convenience and retention.
The property's 1987 construction year aligns with the neighborhood average of 1973, indicating established building stock that may present value-add renovation opportunities. Median contract rents of $2,137 reflect strong pricing power, though rent-to-income ratios suggest affordability pressures that require careful lease management. Home values averaging $928,510 with 51% appreciation over five years reinforce rental demand as elevated ownership costs keep households in the multifamily market.
Demographics within a 3-mile radius show a stable renter base with 180,903 residents and 73.2% of housing units occupied by renters. Household income averaging $108,988 supports rent levels, while projected household growth of 30.2% through 2028 indicates expanding tenant demand. The area's school ratings average 3.66 out of 5, ranking in the 75th percentile nationally, which appeals to family renters seeking quality education access.
Net operating income per unit averages $11,457 in the neighborhood, ranking in the 86th percentile nationally and indicating strong cash flow potential. The high concentration of cafes, pharmacies, and restaurants supports walkable living that attracts and retains tenants in this urban environment.
Safety metrics present a mixed picture requiring investor attention. The neighborhood ranks 237th among 1,441 metro neighborhoods for violent crime rates, placing it in the 71st percentile nationally with relatively moderate levels. However, property crime rates rank significantly better at 19th among metro neighborhoods, indicating strong performance in the 93rd percentile nationally.
Recent crime trends show substantial increases in both violent and property offenses over the past year, with property crime rising 148.6% and violent crime up 343.1%. These increases place the neighborhood in the bottom decile nationally for crime trend stability. Investors should monitor these patterns closely and consider how security measures or community initiatives might affect tenant retention and lease premiums.
The property benefits from proximity to major corporate headquarters and offices that provide stable employment for the local workforce, supporting consistent rental demand.
- Avery Dennison — materials and manufacturing (0.7 miles) — HQ
- Disney — entertainment and media (3.3 miles) — HQ
- Radio Disney — media and broadcasting (4.3 miles)
- Charter Communications — telecommunications (5.1 miles)
- Live Nation Entertainment — entertainment services (6.1 miles)
This 35-unit property offers exposure to Glendale's established rental market with neighborhood-level occupancy at 95.5% and strong renter concentration at 64.8% of housing units. The 1987 construction year presents potential value-add opportunities through renovations while maintaining alignment with neighborhood building stock. According to commercial real estate analysis from WDSuite, the area ranks in the top quartile nationally for amenities and grocery access, supporting tenant attraction and retention.
Demographics within a 3-mile radius show household growth projected at 30.2% through 2028, expanding the potential tenant base. Average household income of $108,988 supports current rent levels, though elevated rent-to-income ratios require careful lease management. Proximity to major employers including Avery Dennison headquarters and Disney corporate offices provides employment stability that underpins rental demand in this Urban Core location.
- Strong neighborhood occupancy at 95.5% with renter-dominated housing market
- Top quartile national ranking for amenity access and grocery density
- Projected household growth of 30% through 2028 expanding tenant base
- Value-add renovation potential with 1987 construction vintage
- Risk consideration: Recent increases in crime rates require monitoring and security planning