| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 58th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 621 W Milford St, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
621 W Milford St Glendale Multifamily Investment
Neighborhood fundamentals show high renter demand and steady occupancy, according to WDSuite’s CRE market data, with stability supported by Glendale’s Urban Core location. These indicators reflect the neighborhood (not the property) and suggest durable tenant depth for a 32-unit asset.
Glendale’s Urban Core setting delivers investor-friendly livability with strong amenity access. The neighborhood scores top quartile nationally for overall amenities and parks access, with grocery density also in the upper percentiles. Dining and cafés are plentiful versus national norms, although pharmacy access trails peers, which may modestly affect convenience rather than demand.
Operating metrics for the neighborhood point to durable performance: occupancy is high (ranked above the metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods), and net operating income per unit benchmarks in the top percentile nationally. Median rents price above national norms, and the rent-to-income ratio trends near the lower end nationally, supporting lease retention and pricing management.
The tenant base is deep: 66.6% of housing units in the neighborhood are renter-occupied, indicating a strong renter concentration that supports multifamily absorption and renewals. Within a 3-mile radius, demographics show stable-to-rising household counts alongside a modest population dip, implying smaller household sizes and a steady inflow of renters rather than new unit construction; forecasts point to additional household gains that expand the local renter pool.
Home values are elevated relative to income levels and sit near the top of national percentiles, a high-cost ownership context that tends to reinforce reliance on multifamily housing and supports occupancy stability. For this 1987 vintage property, the submarket’s older average construction year (1962) means the asset is newer than much of the local stock—competitive versus older comparables—while investors should still plan for targeted modernization of systems and finishes to sustain positioning.
Neighborhood safety trends compare modestly better than national averages overall, with violent-offense rates in the top quartile for safety nationally, according to CRE market data from WDSuite. Within the Los Angeles-Long Beach-Glendale metro, the area performs above the metro median (235th of 1,441 neighborhoods), indicating comparatively favorable positioning among peers.
Recent patterns show a decline in violent offenses alongside a notable uptick in property offenses over the past year. For underwriting, this mix suggests monitoring of property-crime trends while recognizing comparatively stronger standing on violent incidents. As always, safety conditions can vary by block and over time; investors should align security measures and operating plans with current local data.
Proximity to major corporate offices underpins renter demand and commute convenience in this part of Glendale. Key nearby employers include Avery Dennison, Disney, Charter Communications, CBRE Group, and Reliance Steel & Aluminum—providing a diversified white-collar employment base that supports leasing and retention.
- Avery Dennison — corporate offices (0.7 miles) — HQ
- Disney — corporate offices (3.3 miles) — HQ
- Charter Communications — corporate offices (5.5 miles)
- CBRE Group — corporate offices (7.0 miles) — HQ
- Reliance Steel & Aluminum — corporate offices (7.0 miles) — HQ
621 W Milford St benefits from a renter-driven Glendale submarket where neighborhood occupancy is strong and renter concentration is high, supporting consistent absorption and renewals. Elevated ownership costs in the area tend to sustain multifamily demand, while rent-to-income levels indicate manageable affordability pressure that can aid retention. According to CRE market data from WDSuite, the neighborhood’s income performance benchmarks are competitive nationally, reinforcing the case for stable operations.
Built in 1987, the asset is newer than much of the surrounding stock, offering relative competitiveness versus older comparables, with potential to capture value through targeted modernization. Nearby anchor employers broaden the white-collar tenant base and help support leasing velocity through cycles.
- Renter-heavy neighborhood and above-median metro occupancy support durable demand and renewals.
- High-cost ownership market reinforces reliance on rentals, aiding pricing power and lease-up stability.
- 1987 vintage is competitive versus older local stock, with value-add potential via systems and finish updates.
- Diverse nearby employers (Avery Dennison, Disney, CBRE, Reliance Steel) support a stable white-collar renter base.
- Risks: monitor recent property-crime volatility and modest population softness; align operations and security accordingly.