| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 74th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 808 N 2nd St, Alhambra, CA, 91801, US |
| Region / Metro | Alhambra |
| Year of Construction | 1972 |
| Units | 23 |
| Transaction Date | 1994-12-12 |
| Transaction Price | $1,540,000 |
| Buyer | NOVARRO FRANK J |
| Seller | AMERICAN SVGS BANK FA |
808 N 2nd St Alhambra 23-Unit Value-Add
Neighborhood occupancy is solid and renter-occupied housing is prevalent, supporting durable leasing fundamentals according to WDSuite’s CRE market data.
Situated in Alhambra’s Urban Core, the property benefits from a neighborhood that ranks 122 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, indicating competitive positioning within the metro. Amenity access is a strength: restaurants and cafes score in the upper national percentiles, and grocery and pharmacy availability is similarly strong, supporting daily convenience and resident retention.
The asset’s 1972 vintage is older than the neighborhood’s average construction year, pointing to potential value-add and capital planning opportunities that can improve competitive standing versus newer stock. Average school ratings trend above national norms, which can be attractive for longer-term renters seeking stability.
For investors focused on multifamily demand, the surrounding area shows a meaningful renter-occupied share at the neighborhood level, signaling depth in the tenant base. Neighborhood occupancy has trended upward over the last five years and sits above national midpoints, which supports income stability and moderates lease-up risk.
Demographic statistics are aggregated within a 3-mile radius. While the population edged down in recent years, households were broadly stable and are projected to grow alongside a decline in average household size. That combination typically expands the renter pool and supports sustained absorption, particularly for well-located, mid-sized units. Median incomes have risen, and forecast gains further reinforce the ability to support rent levels without materially increasing retention risk.
Ownership costs in the area are elevated by national standards, and home values rank in the top national percentiles. In practice, this tends to sustain reliance on multifamily rentals and can support pricing power and lease duration, particularly for quality product that aligns with neighborhood expectations.
Safety trends should be evaluated with context. Compared with Los Angeles-Long Beach-Glendale as a whole, this neighborhood’s safety profile sits around the metro middle, with national positioning near the midpoint. Notably, both estimated property and violent offense rates have improved over the past year, which is a constructive directional signal for investor underwriting and resident sentiment.
Within metro rankings, the neighborhood places in the lower half (946 out of 1,441) for overall crime, indicating room for continued improvement relative to peer areas. Nationally, the neighborhood sits below the median for safety, but the recent year-over-year declines in estimated offense rates provide a favorable trend to monitor over a longer horizon.
Nearby corporate employment centers provide a broad white-collar tenant base and commuting optionality, led by utilities, energy, metals, technology, and real estate services within a short drive.
- Edison International — utility (4.5 miles) — HQ
- Chevron — energy (6.4 miles)
- Reliance Steel & Aluminum — metals (7.6 miles) — HQ
- Microsoft — technology (7.6 miles)
- CBRE Group — commercial real estate services (7.7 miles) — HQ
808 N 2nd St offers a 23‑unit footprint in an Urban Core location where renter demand is supported by strong amenity access, competitive neighborhood standing, and a meaningful renter-occupied share. According to CRE market data from WDSuite, neighborhood occupancy has improved over the past five years and sits above national midpoints, aligning with stable income expectations.
Built in 1972, the property is older than the neighborhood average, creating a clear path for value-add through targeted renovations and systems modernization to enhance rent positioning versus newer comparables. Elevated home values in the area bolster reliance on multifamily rentals, while 3‑mile household growth projections and rising incomes indicate a larger tenant base and support for sustained absorption and retention.
- Competitive neighborhood within the Los Angeles metro with strong amenity access that supports leasing and retention.
- 1972 vintage suggests value-add potential via unit/interior upgrades and building systems improvements.
- Elevated ownership costs reinforce multifamily demand and pricing power for well-positioned assets.
- 3‑mile outlook points to household growth and rising incomes, supporting occupancy stability and rent durability.
- Risks: safety metrics sit below national medians and park access is limited; execution should emphasize security, tenant experience, and targeted capex.