| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 48th | Fair |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 363 N Calera Ave, Azusa, CA, 91702, US |
| Region / Metro | Azusa |
| Year of Construction | 1979 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
363 N Calera Ave Azusa Multifamily Investment
This 88-unit property sits in an Urban Core neighborhood where occupancy reaches 97.4% and rents have climbed 22% over five years, supported by dense amenities and limited renter-occupied housing supply, according to CRE market data from WDSuite.
Located in Azusa within the Los Angeles-Long Beach-Glendale metro, this neighborhood earns a B rating and ranks in the top third among the region's 1,441 neighborhoods for housing fundamentals (76th percentile nationally). Renter-occupied units comprise 42.3% of housing stock—ranking in the 82nd percentile nationwide—underscoring a concentrated tenant base that supports multifamily demand. Neighborhood-level occupancy stands at 97.4%, landing in the 85th percentile nationally and well above typical metro averages, signaling strong absorption and tenant retention dynamics.
Median contract rent in the immediate neighborhood is $1,473, placing it in the 77th percentile nationally, with five-year growth of 22%. Households within a three-mile radius report a median income of approximately $90,700, up 33% over the prior five years, and forecasts point to continued income expansion through 2028. Elevated home values—median $604,754 in the neighborhood (89th percentile nationally) and rising 53% over five years—limit accessibility to ownership and sustain reliance on rental housing, reinforcing depth of demand for multifamily properties.
The property was constructed in 1979, slightly older than the neighborhood's 1976 average. This vintage suggests potential value-add or renovation upside for investors seeking to reposition assets and capture rent premiums through capital improvements. Dense amenity access strengthens tenant appeal: the neighborhood ranks in the 96th percentile nationally for cafes per square mile, 94th for grocery stores, and 96th for parks, supporting lease retention and competitive positioning.
Within three miles, the population totals approximately 139,000, with household counts forecast to grow 38% by 2028—a significant expansion of the renter pool that supports occupancy stability and lease-up velocity. Average school ratings reach 3.0 out of 5, ranking in the 61st percentile nationally, a mid-tier performance that balances family appeal with affordability considerations. Demographics show 21% of the population under 18 and 39% aged 35–64, reflecting workforce-age households that typically anchor multifamily demand.
The neighborhood ranks 510th among 1,441 metro neighborhoods for overall crime (69th percentile nationally), indicating below-average crime levels relative to peer neighborhoods across the country. Property offense rates stand at approximately 118 incidents per 100,000 residents annually, ranking in the 64th percentile nationally, while violent offense rates place the neighborhood in the 66th percentile. Both property and violent offense trends declined year-over-year—property crime down 22% and violent crime down 41%—suggesting improving safety conditions that support tenant retention and lease management.
For commercial real estate investors, these metrics position the neighborhood competitively within the Los Angeles metro for safety relative to its urban core density. While no neighborhood is without risk, the combination of declining crime trends and above-average national percentiles offers a stable foundation for underwriting occupancy and renewal assumptions.
The property benefits from proximity to a diversified employment base anchored by corporate offices in energy, logistics, utilities, and industrial sectors, supporting workforce housing demand and commute convenience for tenants.
- Chevron — energy & corporate offices (9.0 miles)
- Ryder Vehicle Sales — logistics & vehicle services (11.4 miles)
- Edison International — utilities & energy services (12.2 miles) — HQ
- Waste Management — waste services & corporate offices (14.3 miles)
- United Technologies — aerospace & defense offices (14.9 miles)
This 88-unit property in Azusa presents an opportunity grounded in neighborhood-level occupancy of 97.4% (85th percentile nationally) and a renter-occupied housing share of 42.3% (82nd percentile), both of which indicate strong tenant demand and limited competitive supply. Median neighborhood rents of $1,473 have grown 22% over five years, supported by household income growth of 33% and elevated home values (median $604,754, up 53%) that sustain reliance on rental housing. Demographics within three miles show approximately 139,000 residents, with household counts forecast to expand 38% by 2028, broadening the tenant base and supporting lease-up velocity and occupancy stability.
Built in 1979, the property is slightly older than the neighborhood's 1976 average construction year, presenting value-add potential through targeted capital improvements and unit renovations to capture rent premiums. The Urban Core location delivers dense amenity access—96th percentile nationally for cafes and parks, 94th for grocery stores—enhancing tenant appeal and lease retention. Crime trends show year-over-year declines of 22% for property offenses and 41% for violent offenses, with overall safety metrics in the 69th percentile nationally. Investors should weigh capital expenditure needs tied to the property's vintage and monitor rent-to-income ratios (18% neighborhood-level, 34th percentile) for affordability pressure that may affect renewal rates in a rising-rent environment.
- Neighborhood occupancy at 97.4% (85th percentile nationally) signals strong absorption and tenant retention
- Renter-occupied share of 42.3% (82nd percentile) and elevated home values sustain multifamily demand depth
- Forecast household growth of 38% by 2028 within three miles expands the renter pool and supports lease-up velocity
- 1979 vintage offers value-add upside through capital improvements and unit renovations
- Monitor capital expenditure needs and rent-to-income dynamics for potential affordability pressure on renewals