| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 35th | Good |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1531 Ross Ave, El Centro, CA, 92243, US |
| Region / Metro | El Centro |
| Year of Construction | 1990 |
| Units | 106 |
| Transaction Date | 2006-05-25 |
| Transaction Price | $5,000,000 |
| Buyer | FERBER PROPERTIES LP |
| Seller | REGENCY PARK SENIOR APARTMENTS |
1531 Ross Ave El Centro Multifamily Investment
This 106-unit property built in 1990 operates in a neighborhood ranking 4th among 52 metro neighborhoods with strong rental demand fundamentals. The area maintains 84.9% occupancy rates and benefits from a substantial renter base comprising 44.2% of housing units.
The property sits in El Centro's top-performing neighborhood, ranking 4th among 52 metro neighborhoods with an A rating. The area demonstrates strong rental fundamentals with 44.2% of housing units occupied by renters, ranking in the 84th national percentile for rental share. Neighborhood-level occupancy stands at 84.9%, providing a stable foundation for multifamily operations.
Built in 1990, the property aligns with the neighborhood's average construction year of 1964, positioning it among newer inventory that may require less immediate capital expenditure compared to older area stock. The location benefits from exceptional amenity density, ranking 1st among metro neighborhoods with 73rd national percentile performance for overall amenities.
Demographics within a 3-mile radius show a population of 47,750 with household incomes averaging $79,732. The area maintains affordability with median contract rents of $857, though projections indicate significant rent growth potential with forecasted median rents reaching $1,688 by 2028. Home values averaging $300,822 with recent 78.9% appreciation help sustain rental demand by limiting ownership accessibility.
The neighborhood excels in daily conveniences that support tenant retention, including top-tier pharmacy access (99th national percentile) and strong restaurant density (83rd national percentile). However, park access ranks last among metro neighborhoods, which may impact tenant appeal for families with children.
Safety data for this El Centro neighborhood is not currently available in the provided market analysis. Investors should conduct independent due diligence on local crime statistics and security considerations as part of their underwriting process.
Employment data for major anchor employers near this El Centro location is not available in the current market analysis. Investors should research the local employment base, including agricultural, government, and retail sectors that typically drive Imperial County's economy.
This El Centro multifamily property presents a value proposition anchored by strong neighborhood fundamentals and rental demand indicators. The asset operates in the metro's 4th-ranked neighborhood with substantial rental housing demand, evidenced by 44.2% renter occupancy share ranking in the 84th national percentile. According to CRE market data from WDSuite, the 1990 construction vintage positions the property favorably within the neighborhood's older housing stock, potentially reducing near-term capital expenditure needs.
Demographic projections within the 3-mile radius indicate household growth of 51.5% through 2028, expanding the potential tenant base substantially. Current rent levels of $857 median suggest significant upside potential, with forecasted rents reaching $1,688 by 2028. The property's 106 units at 459 square feet average provide efficient unit economics in a market where elevated home values of $300,822 reinforce rental demand by limiting homeownership accessibility.
- Top-quartile neighborhood ranking (4th of 52) with A-grade rating
- Strong rental demand fundamentals with 84th percentile renter share
- Significant rent growth potential from current $857 to projected $1,688
- 1990 vintage reduces capital expenditure risk versus older neighborhood stock
- Risk consideration: Limited park access may impact family tenant retention