| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 66th | Good |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 699 E Altadena Dr, Altadena, CA, 91001, US |
| Region / Metro | Altadena |
| Year of Construction | 1987 |
| Units | 26 |
| Transaction Date | 2017-01-24 |
| Transaction Price | $1,777,000 |
| Buyer | JAZZ HOLDINGS LLC |
| Seller | A & MH ALTADENA LLC |
699 E Altadena Dr Altadena Multifamily Investment
Neighborhood occupancy around 97.7% suggests steady renter demand in this inner suburb, according to WDSuite’s CRE market data, with a high-cost ownership market helping sustain reliance on rentals. These figures reflect neighborhood conditions, not the specific property.
Rated B- among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, the area offers solid livability with investment appeal built on stability and income depth. Neighborhood occupancy is strong (top quartile nationally), supporting steady leasing conditions for multifamily assets, per WDSuite’s market view of the neighborhood—not the property.
Local dynamics skew toward a high-income renter base: neighborhood household incomes rank in the upper tier nationally while rent-to-income levels trend favorable, reinforcing pricing power and lease retention potential. Elevated home values (near the top of U.S. neighborhoods) indicate a high-cost ownership market, which typically sustains multifamily demand and supports occupancy stability.
Amenities are mixed. Park access is a relative strength (high national percentile), pharmacies are reasonably accessible, and restaurants are present, but cafes and grocery stores are sparse within the immediate neighborhood. Investors should underwrite with the understanding that residents may rely on nearby submarkets for certain conveniences, even as outdoor and recreation options are comparatively strong.
Vintage context matters: the neighborhood’s average construction year skews mid-20th century, while this asset was built in 1987. The property’s newer vintage versus local stock can be a competitive advantage on unit layouts and building systems; however, investors should still plan for selective modernization and building system updates typical for late-1980s construction to enhance rent readiness and retention.
Tenure and demographics within a 3-mile radius point to a balanced renter pool and income growth. Roughly half of housing units are renter-occupied, providing depth for multifamily demand. While the broader 3-mile population has edged down, household counts are projected to increase alongside smaller average household sizes, which can expand the renter pool and support consistent unit absorption. A relatively high share of residents hold bachelor’s degrees, reinforcing demand for quality rentals near employment corridors.
Safety indicators present a mixed picture. On a national basis, the neighborhood sits below the median for safety, and recent estimates point to year-over-year increases in both violent and property crime rates. These signals suggest prudent risk management—such as enhanced lighting, access controls, and resident engagement—may help support leasing and retention.
At the metro level, performance can differ by sub-area and corridor. Investors should compare block-to-corridor trends and monitor trajectory rather than any single-year data point, using WDSuite’s time-series views to evaluate whether conditions are improving, stable, or deteriorating relative to the broader Los Angeles-Long Beach-Glendale market.
Proximity to major corporate offices supports a diverse employment base and commuting convenience that can underpin renter demand and retention. Notable employers in the wider area include labeling and materials, utilities, energy, entertainment, and software.
- Avery Dennison — labeling & materials (7.4 miles) — HQ
- Edison International — electric utility (9.9 miles) — HQ
- Chevron — energy (10.3 miles)
- Disney — entertainment (11.2 miles) — HQ
- Microsoft — software (11.7 miles)
This 26-unit asset, built in 1987, sits in a high-demand Altadena neighborhood where occupancy is strong and homeownership costs are elevated, helping sustain reliance on rentals. According to CRE market data from WDSuite, the neighborhood posts top-quartile national occupancy, while incomes trend high and rent-to-income readings are favorable—factors that can support pricing power and lease stability relative to older local stock.
Within a 3-mile radius, renter-occupied housing is substantial, and household counts are projected to rise even as average household size declines—conditions that typically expand the renter pool and support absorption. The property’s late-1980s vintage is newer than much of the surrounding stock, which can be an advantage for layouts and systems; targeted renovations and system upgrades may unlock additional value-add upside and improve retention.
- Strong neighborhood occupancy and high-income profile support rent durability
- Elevated home values reinforce renter reliance on multifamily housing
- 1987 vintage offers relative competitiveness vs. older local stock with value-add potential through modernization
- Access to major employers within ~7–12 miles supports demand and retention
- Risks: below-median national safety signals and limited nearby cafes/grocers warrant proactive operations and amenity strategy