| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 74th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 N Atlantic Blvd, Alhambra, CA, 91801, US |
| Region / Metro | Alhambra |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | 2013-04-03 |
| Transaction Price | $13,750,137 |
| Buyer | SIROTT STANLEY A |
| Seller | ATLANTIC TOWERS LIMITED PARTNERSHIP |
500 N Atlantic Blvd Alhambra Multifamily Investment
This 36-unit property benefits from strong neighborhood-level occupancy at 94.4% and ranks in the top quartile nationally for housing fundamentals, according to CRE market data from WDSuite.
Located in Alhambra's Urban Core, this neighborhood ranks 122nd among 1,441 metro neighborhoods with an A rating, placing it in the top quartile nationally for housing fundamentals. The area demonstrates strong rental demand with 58.9% of housing units renter-occupied and neighborhood-level occupancy maintaining 94.4%, supported by a diverse amenity base that ranks in the 79th percentile nationally.
Built in 1973, this property represents value-add renovation potential in a market where the neighborhood's average construction year is 1981. The vintage positions investors to capitalize on modernization opportunities while benefiting from established infrastructure. Within a 3-mile radius, demographics show 55.9% of households are renters with median household income of $97,177, creating a substantial tenant base for multifamily properties.
The neighborhood's median contract rent of $1,847 reflects strong pricing power, ranking 673rd among metro areas while achieving the 89th percentile nationally. Home values averaging $903,941 with a value-to-income ratio of 10.2 reinforce rental demand by keeping homeownership costs elevated. Schools average 4.0 out of 5 stars, ranking in the top quartile among metro neighborhoods, supporting tenant retention and family renter appeal.
Demographic projections within the 3-mile radius indicate household growth from 75,540 to 99,257 units by 2028, representing a 31% increase that expands the potential renter pool. Forecast median household income is expected to rise 33% to $129,477, while projected median rent increases to $2,427 suggest continued pricing power for well-positioned multifamily assets.
Safety metrics show mixed performance relative to the broader Los Angeles metro area. The neighborhood ranks 946th among 1,441 metro neighborhoods for overall crime, placing it in the 44th percentile nationally. Property crime rates estimated at 1,792 incidents per 100,000 residents rank in the 13th percentile nationally, though recent trends show a 13.4% decline year-over-year.
Violent crime rates are more favorable at 54 incidents per 100,000 residents, ranking in the 41st percentile nationally with a 15.8% decline over the past year. While crime metrics require ongoing monitoring, the improving trends and dense urban amenity base suggest active community engagement that investors should factor into tenant retention and property management strategies.
The property benefits from proximity to major corporate employers across energy, technology, and aerospace sectors that support workforce housing demand in the greater Los Angeles area.
- Edison International — energy & utilities (4.3 miles) — HQ
- Chevron — energy & petroleum (6.4 miles)
- Reliance Steel & Aluminum — industrial materials (7.4 miles) — HQ
- Microsoft — technology (7.4 miles)
- CBRE Group — commercial real estate services (7.5 miles) — HQ
This 36-unit property leverages strong neighborhood fundamentals with 94.4% occupancy and top-quartile national housing rankings. The 1973 construction year creates value-add renovation opportunities in a market where rents average $1,847 and home values exceeding $900,000 reinforce rental demand. Demographic growth projecting 31% household expansion through 2028 supports long-term tenant demand, while proximity to major employers including Edison International headquarters provides workforce housing appeal.
Net operating income averaging $10,780 per unit ranks in the 83rd percentile nationally, reflecting the neighborhood's pricing power and operational efficiency. The Urban Core location offers dense amenities ranking in the 79th percentile nationally, supporting tenant retention in a market where 58.9% of housing units are renter-occupied.
- Strong occupancy stability with neighborhood-level rates at 94.4%
- Value-add renovation potential from 1973 vintage in appreciating market
- Demographic growth projecting 31% household increase through 2028
- Proximity to major employment centers including Edison International HQ
- Crime trends require monitoring despite recent improvement in violent offense rates