| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 66th | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 N Electric Ave, Alhambra, CA, 91801, US |
| Region / Metro | Alhambra |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
405 N Electric Ave Alhambra Multifamily Investment
This 24-unit property built in 1972 sits in an A- rated neighborhood with strong renter demand, where 71% of housing units are renter-occupied and neighborhood-level occupancy reaches 93%.
The Alhambra neighborhood ranks in the top quartile nationally for amenities, with exceptional access to essential services including 6.9 grocery stores per square mile (98th percentile nationally) and abundant childcare options. Schools average 4.0 out of 5 stars, ranking in the 84th percentile nationally among the 1,441 metro neighborhoods. This Urban Core location supports strong rental fundamentals with 71% of housing units renter-occupied, well above typical ownership-dominated submarkets.
Neighborhood-level occupancy holds at 92.9%, indicating stable tenant retention in this established rental market. Median contract rents of $1,690 reflect the area's positioning, with rent growth of 32% over five years. Demographics within a 3-mile radius show a mature renter base with household incomes averaging $97,234 and projected to reach $131,459 by 2028, supporting lease renewal capacity.
The 1972 construction year aligns with the neighborhood average, suggesting opportunities for value-add renovations to capture upside in this amenity-rich location. High home values averaging $714,417 reinforce rental demand by maintaining elevated ownership costs that keep households in the multifamily market. Property built in this vintage typically require capital planning for mechanical systems and unit upgrades.
Crime metrics show mixed trends for investor consideration. Property crime rates rank 1,289th among 1,441 metro neighborhoods, placing this area in the lower quartile for property crime performance. However, recent trends indicate improvement with property crime declining 23% year-over-year, suggesting positive momentum.
Violent crime rates perform better at 93 incidents per 100,000 residents, ranking 985th among metro neighborhoods (32nd percentile nationally). Violent crime has declined 35% over the past year, demonstrating meaningful improvement in neighborhood conditions that can support tenant retention and leasing velocity.
The property benefits from proximity to major corporate employers within the Los Angeles metro, including several Fortune 500 headquarters that provide workforce housing demand and commuting convenience for tenants.
- Edison International — utilities headquarters (4.5 miles) — HQ
- Chevron — energy offices (6.7 miles)
- Reliance Steel & Aluminum — industrial headquarters (7.1 miles) — HQ
- Microsoft — technology offices (7.1 miles)
- CBRE Group — commercial real estate headquarters (7.2 miles) — HQ
This 24-unit property offers value-add potential in a fundamentally strong rental market. The 1972 vintage presents renovation upside opportunities while the A- rated neighborhood provides tenant appeal through superior amenities and school quality. According to CRE market data from WDSuite, the 71% renter-occupied housing stock and 93% neighborhood occupancy demonstrate sustained multifamily demand in this Urban Core location.
Demographics within a 3-mile radius support long-term fundamentals, with household income growth of 38% over five years and projected increases to $131,459 by 2028. The high home value environment averaging $714,417 reinforces rental demand by maintaining elevated ownership barriers. Proximity to major employers including Edison International and other Fortune 500 companies provides workforce housing demand stability.
- Strong rental fundamentals with 93% neighborhood occupancy and 71% renter-occupied units
- Value-add renovation potential from 1972 vintage in amenity-rich A- rated neighborhood
- Growing household incomes with 38% increase over five years supporting lease renewal capacity
- Proximity to major employers including Edison International headquarters and Fortune 500 companies
- Risk consideration: Property crime rates rank in lower quartile, though trending downward with 23% decline