| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 75th | Best |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 N Chapel Ave, Alhambra, CA, 91801, US |
| Region / Metro | Alhambra |
| Year of Construction | 1972 |
| Units | 84 |
| Transaction Date | 2024-11-12 |
| Transaction Price | $14,700,000 |
| Buyer | RAINTREE WOODSIDE LLC |
| Seller | WOODSIDE TERRACE PARTNERSHIP |
400 N Chapel Ave Alhambra Multifamily Opportunity
Neighborhood renter demand is supported by a high renter-occupied share and a high-cost ownership market, according to WDSuite’s CRE market data. Metrics referenced are for the neighborhood, not the property, and point to stable occupancy with rents positioned above national levels.
The property sits in Alhambra within the Los Angeles-Long Beach-Glendale metro, in a neighborhood rated B+ and competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 466 out of 1,441). Investor interest is underpinned by a renter-occupied share above metro medians, which typically broadens the tenant base and supports leasing velocity.
Local amenity access is mixed: restaurants are dense (top national percentiles), and grocery options score well above national medians. However, cafes, parks, and pharmacies are sparse within the neighborhood boundary, so day-to-day convenience leans on nearby corridors rather than immediate blocks. For investors, this balance suggests solid daily needs coverage with some walkable amenity gaps to monitor during marketing and retention efforts.
On rent and occupancy, neighborhood occupancy is around the national average, while median contract rents sit well above national levels, per commercial real estate analysis from WDSuite. Elevated home values relative to national benchmarks reinforce renter reliance on multifamily housing, which can aid pricing power and lease retention for well-managed assets.
Demographics aggregated within a 3-mile radius indicate rising incomes and a gradual shift toward smaller household sizes. While the recent population trend is modestly negative, forecasts point to growth in households over the next five years, which can expand the renter pool and support occupancy stability for professionally operated properties.
Safety indicators for the neighborhood are mixed when viewed against metro and national context. The area ranks below the metro median for safety (crime rank 838 out of 1,441 metro neighborhoods), indicating comparatively higher crime than many Los Angeles-Long Beach-Glendale peers. Nationally, violent incidents benchmark below the median, and property crime compares weaker; however, both categories show year-over-year improvement, suggesting a constructive trend to monitor rather than a fixed condition.
For investors, the takeaway is practical: performance assumptions should reflect average-to-weaker safety positioning today with signs of improvement. Asset-level security measures and tenant screening can help mitigate risk and protect retention.
The employment base within a short drive mixes utilities, energy, metals distribution, technology, and commercial real estate services, supporting workforce housing demand and commute convenience for residents.
- Edison International — electric utility (4.2 miles) — HQ
- Chevron — energy (6.0 miles)
- Reliance Steel & Aluminum — metals & distribution (8.0 miles) — HQ
- Microsoft — technology (8.0 miles)
- CBRE Group — commercial real estate services (8.1 miles) — HQ
400 N Chapel Ave comprises 84 units in Alhambra, positioning it as a mid-sized asset in a renter-oriented pocket of the Los Angeles region. Elevated neighborhood rents and a high-cost ownership landscape support rental demand and potential pricing power, while occupancy trends hover around national averages. According to CRE market data from WDSuite, the surrounding neighborhood’s median rents outpace national levels and renter concentration is high, indicating depth in the tenant base for a well-managed asset.
Built in 1972, the property likely benefits from value-add and systems modernization opportunities. Demographics within a 3-mile radius show rising incomes and a forecast increase in households, which can expand the renter pool and support leasing stability. Execution will hinge on calibrated renovations, competitive positioning versus comparable product, and prudent expense controls.
- Renter concentration and elevated home values reinforce demand depth and lease retention potential.
- Neighborhood rents above national levels with occupancy around national averages support stable underwriting.
- 1972 vintage offers value-add and systems modernization upside with targeted capex.
- 3-mile demographics point to rising incomes and household growth, expanding the renter pool over time.
- Risks: below-median metro safety rankings and amenity gaps (parks/pharmacies) warrant security, marketing, and retention focus.