| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 74th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 321 W Grand Ave, Alhambra, CA, 91801, US |
| Region / Metro | Alhambra |
| Year of Construction | 1973 |
| Units | 71 |
| Transaction Date | 2013-06-07 |
| Transaction Price | $13,750,000 |
| Buyer | Stanley Sirott |
| Seller | Atlantic Towers, LP |
321 W Grand Ave, Alhambra CA — Multifamily Value‑Add Position
Neighborhood occupancy remains solid with a sizable renter base, supporting stable leasing and pricing power according to CRE market data from WDSuite. For investors, 1973 vintage suggests potential renovation upside in a high-demand San Gabriel Valley location.
Located in Alhambra’s Urban Core, the area surrounding 321 W Grand Ave shows strong renter demand fundamentals and daily‑needs convenience. The neighborhood’s amenity access ranks 228 out of 1,441 Los Angeles–Long Beach–Glendale neighborhoods, indicating it is competitive among metro peers for restaurants, groceries, pharmacies, and childcare. Average school ratings trend favorably (ranked 121 of 1,441; top quartile nationally), a factor that can support retention among family renters.
Rents and occupancy in the neighborhood are constructive for multifamily. Neighborhood occupancy is above many areas nationally and has improved over the past five years, and the share of renter‑occupied units is elevated at the neighborhood level, indicating a deeper tenant base and steadier turnover management for operators. According to WDSuite’s CRE market data, neighborhood NOI per unit trends in the upper tier nationally, reinforcing the local ability to support rent and operations.
Within a 3‑mile radius, household counts have inched higher historically and are projected to increase further alongside rising incomes, while average household size is trending lower. This combination points to a gradually expanding renter pool and supports occupancy stability and lease‑up consistency over time.
Ownership costs in the immediate area are high relative to incomes (home values rank in the 96th percentile nationally and value‑to‑income is also elevated), which typically sustains reliance on rental housing and can bolster pricing power for well‑positioned assets. A trade‑off: park access is limited locally, so curb appeal, on‑site amenities, and walkable retail can be important differentiators at the property level.
Safety indicators in the surrounding neighborhood are mixed. The area’s crime rank sits in the less favorable half of the Los Angeles–Long Beach–Glendale metro (946 out of 1,441 neighborhoods), and national comparisons show property crime in a low percentile. At the same time, both property and violent offense rates have declined year over year, indicating improving trends rather than deterioration.
For underwriting, investors often account for these dynamics through security planning, lighting and access controls, and by emphasizing unit and common‑area upgrades that enhance resident confidence. As always, compare submarket trends against recent comps and management performance rather than drawing conclusions from block‑level anecdotes.
The location is proximate to a diversified employment base that supports renter demand and commute convenience, including utilities, energy, technology, and real estate services. The employers below represent nearby anchors that can help underpin leasing and retention.
- Edison International — utilities (4.3 miles) — HQ
- Chevron — energy (6.3 miles)
- Reliance Steel & Aluminum — metals & distribution (7.4 miles) — HQ
- Microsoft — technology offices (7.5 miles)
- CBRE Group — commercial real estate services (7.6 miles) — HQ
This 71‑unit 1973 property sits in a neighborhood with durable renter demand, competitive amenity access, and above‑average occupancy for the area. Elevated home values and value‑to‑income metrics indicate a high‑cost ownership market, which tends to reinforce reliance on multifamily rentals and support rent performance. Based on commercial real estate analysis from WDSuite, the neighborhood’s NOI per unit and school quality are comparative strengths, while limited parks and mixed safety indicators warrant thoughtful asset management.
The vintage points to value‑add potential through renovations and systems modernization, which can sharpen competitive positioning against newer stock in Alhambra and nearby San Gabriel Valley submarkets. Forecast growth in households within 3 miles and rising incomes suggest a gradually expanding tenant base that can support occupancy stability over the long term.
- High ownership costs locally sustain rental demand and support pricing power
- Competitive amenity access and strong school ratings aid leasing and retention
- 1973 vintage offers clear renovation and operational value‑add levers
- Household growth and rising incomes within 3 miles support a larger renter pool
- Risks: mixed safety metrics and limited park access call for proactive management