| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 55th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 N Howard St, Glendale, CA, 91206, US |
| Region / Metro | Glendale |
| Year of Construction | 1973 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
611 N Howard St Glendale Multifamily Investment
This 112-unit property anchors a high-density rental neighborhood where 71% of housing units are renter-occupied, indicating sustained tenant demand according to CRE market data from WDSuite.
The property sits within Glendale's Urban Core neighborhood, ranking in the top quartile nationally among 1,441 metro neighborhoods with an A rating. The area demonstrates strong rental market fundamentals, with 71% of housing units occupied by renters—well above national averages. Neighborhood-level contract rents average $1,943, positioning competitively within the Los Angeles metro while maintaining tenant affordability relative to regional ownership costs.
Built in 1973, this property aligns with the neighborhood's average construction year of 1974, suggesting consistent building stock that may present value-add renovation opportunities. The surrounding area offers exceptional amenity density, ranking in the 95th percentile nationally for cafes and pharmacies, with nearly 7 grocery stores per square mile supporting tenant convenience and retention.
Demographics within a 3-mile radius show a stable renter base of approximately 186,000 residents, with 69% of households renting rather than owning. Median household income of $88,006 supports current rent levels, while projected household growth of 32% through 2028 indicates expanding demand for rental housing. The area's high home values—median $685,042—reinforce rental demand by keeping homeownership out of reach for many residents.
Current neighborhood-level occupancy of 88.8% reflects typical market conditions, though this has declined slightly over the past five years. However, the area's strong amenity infrastructure and growing household base provide fundamental support for multifamily demand. Average NOI per unit of $12,210 ranks in the 89th percentile nationally, indicating solid income-generating potential for well-positioned properties.
Specific crime statistics for this neighborhood are not currently available in the market data. Investors should conduct independent due diligence on local safety conditions as part of their underwriting process. The Urban Core designation suggests a dense, active environment typical of established metropolitan areas, which may present both opportunities and considerations for property management and tenant relations.
The property benefits from proximity to major corporate anchors, including several Fortune 500 headquarters that provide workforce housing demand in the greater Los Angeles market.
- Avery Dennison — materials and manufacturing (0.5 miles) — HQ
- Disney — entertainment and media (4.4 miles) — HQ
- Charter Communications — telecommunications (6.3 miles)
- Microsoft — technology services (7.1 miles)
- CBRE Group — commercial real estate services (7.2 miles) — HQ
This 112-unit property offers exposure to Glendale's established rental market, where high renter density and proximity to major employers support tenant demand fundamentals. The 1973 construction year presents potential value-add opportunities through strategic renovations and unit improvements. With household growth projected at 32% through 2028 and elevated home values maintaining barriers to ownership, the rental market foundation appears durable for long-term hold strategies.
The neighborhood's A rating and top-quartile national ranking reflect strong amenity infrastructure and demographic stability. Average NOI per unit of $12,210 ranks in the 89th percentile nationally, while the area's 71% renter occupancy rate significantly exceeds typical multifamily markets. However, investors should monitor the recent decline in neighborhood occupancy rates and assess capital expenditure requirements given the property's 50+ year vintage.
- High-density rental market with 71% renter occupancy supporting tenant demand
- Proximity to Fortune 500 headquarters including Avery Dennison and Disney
- Projected 32% household growth through 2028 expanding renter pool
- Value-add potential through renovations of 1973-vintage units
- Risk consideration: Recent occupancy decline requires active lease management