| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 66th | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1905 Cedar St, Alhambra, CA, 91801, US |
| Region / Metro | Alhambra |
| Year of Construction | 1984 |
| Units | 29 |
| Transaction Date | 2002-04-05 |
| Transaction Price | $2,580,000 |
| Buyer | CHANG DICKENS |
| Seller | WU BENSON |
1905 Cedar St, Alhambra CA Multifamily Investment
Neighborhood data points to durable renter demand and a high share of renter-occupied units, according to WDSuite’s CRE market data, while ownership costs in Alhambra’s Urban Core support sustained reliance on multifamily housing. Metrics cited reflect neighborhood conditions, not the property.
Situated in Alhambra’s Urban Core within the Los Angeles metro (A- neighborhood rating), the area shows solid livability for renters: strong access to parks and groceries (amenities rank 253 of 1,441 metro neighborhoods and amenity metrics in the top quartile nationally), and average school ratings trending above national norms (national 84th percentile). These neighborhood indicators support leasing velocity and retention for workforce and professional tenants.
Local housing context is favorable for multifamily investors. The neighborhood’s renter-occupied share is high (71.2%), indicating a deep tenant base. Median contract rents benchmark above national levels (85th percentile), and neighborhood occupancy sits around the low-90s (92.9%), reinforcing demand resilience and pricing discipline through cycles. Note that these occupancy and rent figures are measured for the neighborhood, not the property.
Ownership remains expensive relative to incomes (home values rank in the national 93rd percentile and value-to-income in the 96th percentile), which tends to sustain rental demand and support lease retention. For operators, rent-to-income conditions (neighborhood ratio of 0.24) suggest some affordability pressure to manage through renewal strategy, yet overall income levels remain healthy versus national medians.
Within a 3-mile radius, demographics show a stable to slightly contracting population historically, with modest growth expected ahead and a rising household count, which implies smaller household sizes and a gradual expansion of the renter pool. For investors, this points to a larger base of prospective tenants over time, with household income trends improving and supporting Class B multifamily demand.
Asset vintage also aligns competitively: the average construction year in the neighborhood is 1973, whereas the subject property was built in 1984. The newer-than-average vintage can reduce near-term functional obsolescence versus older stock, while still leaving room for selective system upgrades or modernization to enhance NOI.
Safety performance is mixed and should be contextualized against the broader Los Angeles metro. The neighborhood’s overall crime rank is below the metro median (891 of 1,441), indicating comparatively higher reported incidents than many LA neighborhoods. Nationally, the area trends near average for overall crime (47th percentile), with violent incidents weaker than national norms (32nd percentile) and property incidents also weaker (12th percentile).
Recent momentum is constructive: both violent and property offense rates have declined year over year, with improvement metrics placing the neighborhood above many peers nationally. Investors should incorporate these trends alongside standard risk management practices (lighting, access control, and resident screening) and evaluate block-level patterns during due diligence.
Nearby corporate offices provide a diverse white-collar employment base that supports renter demand and commute convenience, including Edison International, Reliance Steel & Aluminum, Microsoft, Chevron, and CBRE Group.
- Edison International — utilities HQ (4.6 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (6.8 miles) — HQ
- Microsoft — technology offices (6.8 miles)
- Chevron — energy offices (6.9 miles)
- CBRE Group — commercial real estate services (6.9 miles) — HQ
1905 Cedar St is a 1984-vintage, low-count (29 units) multifamily asset positioned in an Urban Core neighborhood with strong renter fundamentals. High renter concentration, above-national rent benchmarks, and occupancy in the low-90s support consistent leasing and retention. Elevated ownership costs across Alhambra/L.A. reinforce reliance on rental housing, while household growth within a 3-mile radius points to a gradually expanding tenant base. According to CRE market data from WDSuite, the neighborhood’s amenity access and school ratings are competitive nationally, underscoring livability advantages that can sustain demand.
From an operations standpoint, the 1984 construction is newer than the neighborhood average, offering a competitive edge versus older stock and a potential runway for targeted upgrades (interiors, common areas, efficiency improvements) to enhance NOI. Investors should balance these strengths with prudent affordability and safety management strategies to maintain occupancy stability and renewal performance.
- High renter-occupied share and low-90s neighborhood occupancy support leasing stability
- Ownership costs well above national norms reinforce sustained multifamily demand
- 1984 vintage is newer than local average, with value-add modernization potential
- Amenity and school quality competitive nationally bolster retention and absorption
- Risk: manage affordability and area safety variability through renewal, screening, and property-level improvements