| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Fair |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1801 Garvey Ave, Alhambra, CA, 91803, US |
| Region / Metro | Alhambra |
| Year of Construction | 1973 |
| Units | 109 |
| Transaction Date | 2015-10-30 |
| Transaction Price | $20,918,000 |
| Buyer | Bascom Group, LLC |
| Seller | Japanese Village Plaza |
1801 Garvey Ave Alhambra Multifamily Investment
This 109-unit property benefits from strong rental demand in a market where 55% of housing units are renter-occupied. According to CRE market data from WDSuite, neighborhood occupancy rates remain stable at 94.2% with rising rental income potential.
The Alhambra neighborhood ranks in the top quartile nationally for parks and recreational amenities, with 2.92 parks per square mile supporting tenant retention. Built in 1973, this property aligns with the area's average construction vintage of 1968, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements.
Demographics within a 3-mile radius show 245,780 residents with a median household income of $78,386 and 55% of housing units occupied by renters. Forecasts project household income growth to $112,604 by 2028, supporting rental pricing power. The neighborhood's 94.2% occupancy rate exceeds many metro areas, while median contract rents of $1,928 rank in the 90th percentile nationally.
High home values with a median of $865,807 and an 11.46 value-to-income ratio in the 99th percentile nationally reinforce rental demand, as elevated ownership costs keep households in the rental market. The area offers strong childcare density at 2.92 facilities per square mile, ranking in the 96th percentile nationally, which appeals to family renters seeking convenient access to services.
Property crime rates in this neighborhood rank 1,248th among 1,441 metro neighborhoods, placing it in the lower third for property crime incidents. Violent crime rates show more favorable positioning at 824th of 1,441 neighborhoods, indicating relatively moderate violent crime levels compared to the broader Los Angeles metro area.
Both property and violent crime rates have increased over the past year, with property offenses up 6% and violent offenses up 23%. Investors should factor these trends into tenant screening protocols and property management strategies, while recognizing that the neighborhood's overall crime profile remains competitive within the urban core context.
The property benefits from proximity to major corporate employers that provide workforce housing demand, including utility, technology, and materials companies within commuting distance.
- Edison International — utility services (4.2 miles) — HQ
- Reliance Steel & Aluminum — materials and manufacturing (5.7 miles) — HQ
- Microsoft — technology offices (5.8 miles)
- CBRE Group — commercial real estate services (5.9 miles) — HQ
- Chevron — energy sector offices (7.1 miles)
This 109-unit Alhambra property presents a value-add opportunity in a stable rental market with 94.2% neighborhood occupancy and strong demographic fundamentals. Built in 1973, the property offers potential for strategic renovations to capture higher rents, while the area's high home values and 99th percentile value-to-income ratio sustain rental demand by keeping ownership costs elevated.
Demographics within a 3-mile radius support long-term rental demand, with household income projected to grow 44% to $112,604 by 2028 and renter-occupied units comprising 55% of the housing stock. Commercial real estate analysis from WDSuite indicates the neighborhood's amenity density and proximity to major employers like Edison International and Microsoft provide tenant retention advantages in the competitive Los Angeles market.
- Strong occupancy fundamentals with 94.2% neighborhood rates above metro averages
- Value-add potential through strategic renovations of 1973 vintage building
- High ownership costs reinforce rental demand in established market
- Projected 44% household income growth supports rental pricing power
- Risk factor: Rising crime trends require enhanced security and management protocols