| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 58th | Good |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Fairmont Ave, Glendale, CA, 91203, US |
| Region / Metro | Glendale |
| Year of Construction | 1990 |
| Units | 39 |
| Transaction Date | 2019-10-02 |
| Transaction Price | $5,720,000 |
| Buyer | 700 FAIRMONT AVE LLC |
| Seller | GOLDMAN MARTIN B |
700 Fairmont Ave Glendale Multifamily 4Renter-Demand Location
Neighborhood occupancy is high and renter concentration is strong, supporting stable leasing conditions according to WDSuite 9s CRE market data. This location 9s fundamentals favor consistent tenant demand over the cycle.
Located in Glendale 9s Urban Core, the neighborhood ranks 235 out of 1,441 Los Angeles metro neighborhoods 4placing it in the top quartile locally. Amenity access is a clear strength: grocery options benchmark in the 97th percentile nationally, parks in the 98th percentile, and restaurants and cafes score well above national medians 4 useful for resident convenience and retention.
For investors evaluating lease-up and renewal risk, the neighborhood 9s occupancy is strong (measured at the neighborhood level, not the property) and sits in the upper tier nationally, while the share of housing units that are renter-occupied is elevated, signaling a deep tenant base for multifamily. Elevated home values relative to incomes (99th percentile nationally for value-to-income) indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power when managed thoughtfully.
Within a 3-mile radius, household counts have increased even as population has edged lower, and projections indicate further gains in households alongside smaller average household sizes. For multifamily investors, that combination points to a larger tenant base over time and demand for efficient unit mixes. Rent-to-income around 0.29 is below typical national pressure points, which can aid lease retention and reduce turnover risk.
Vintage matters for competitiveness: built in 1990, the property is newer than the neighborhood 9s average vintage (1962). That relative youth can reduce near-term functional obsolescence and enhance positioning versus older stock; however, investors should still plan for system updates and selective modernization to capture rent premiums and maintain occupancy.
Safety indicators are mixed but generally favorable in comparative terms. The neighborhood 9s overall crime positioning is above the national median (60th percentile nationwide), and violent-offense metrics track in a stronger range (around the 75th percentile nationally). These figures are neighborhood-level indicators, not property-specific.
Trend-wise, violent offenses have moved lower year over year, while property offenses have recently increased. Investors should account for routine security measures and resident communication, while recognizing that the area remains competitive among Los Angeles neighborhoods (235 of 1,441) on overall neighborhood quality.
The immediate area draws from a diverse corporate base that supports renter demand and commute convenience, notably Avery Dennison, Disney, Radio Disney, Charter Communications, and Live Nation Entertainment.
- Avery Dennison corporate offices (0.8 miles) HQ
- Disney corporate offices (3.1 miles) HQ
- Radio Disney corporate offices (4.1 miles)
- Charter Communications corporate offices (5.2 miles)
- Live Nation Entertainment corporate offices (5.6 miles)
700 Fairmont Ave is a 39-unit asset positioned in a renter-heavy Glendale neighborhood where occupancy is high at the neighborhood level and amenity access scores well above national medians. Elevated ownership costs locally tend to reinforce multifamily demand, while rent-to-income levels suggest manageable affordability pressure conducive to retention. According to CRE market data from WDSuite, the neighborhood ranks competitively within the Los Angeles metro and shows strong amenity density that supports leasing durability.
Constructed in 1990, the property is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory. Investors may find value in targeted system updates and cosmetic enhancements to drive rent premiums, while staying attentive to recent property-crime volatility and modest population softening even as household counts trend higher within 3 miles.
- Renter-demand location with high neighborhood occupancy supporting stable cash flow potential
- Amenity-rich area (parks, groceries, dining) aids tenant retention and leasing velocity
- 1990 vintage offers competitive positioning; targeted upgrades can unlock value-add upside
- High-cost ownership market reinforces renter reliance and depth of tenant pool
- Risks: recent property-crime uptick and slight population contraction warrant active asset management