| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 33rd | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 810 S Citrus Ave, Azusa, CA, 91702, US |
| Region / Metro | Azusa |
| Year of Construction | 1987 |
| Units | 22 |
| Transaction Date | 2018-03-21 |
| Transaction Price | $5,450,000 |
| Buyer | Positive Investments, Inc. |
| Seller | Klock Partners |
810 S Citrus Ave Azusa Multifamily Investment
This 22-unit property built in 1987 sits in a neighborhood with 100% occupancy rates, suggesting strong rental demand fundamentals according to CRE market data from WDSuite.
The Azusa neighborhood demonstrates solid occupancy fundamentals with 100% occupancy rates ranking first among 1,441 metro neighborhoods. Contract rents average $1,935, placing the area in the 90th percentile nationally, while the median household income of $94,430 supports rental affordability with a rent-to-income ratio of 0.25.
Built in 1987, this property aligns with the neighborhood's average construction year of 1984, minimizing immediate capital expenditure concerns while offering potential value-add opportunities through selective unit improvements. The area maintains 43.9% renter-occupied housing units, ranking in the 84th percentile nationally and indicating a stable rental market base.
Demographics within a 3-mile radius show a population of 170,468 with steady household formation, supporting multifamily demand. Home values averaging $589,608 create elevated ownership costs that reinforce rental demand, while the neighborhood's net operating income per unit of $8,871 ranks in the 73rd percentile nationally, reflecting solid investment performance potential.
Property crime rates in the neighborhood show improvement trends, with a 30.9% year-over-year decrease placing the area in the 74th percentile nationally for crime reduction. Current property offense rates of 167.3 per capita rank in the middle tier among Los Angeles metro neighborhoods, while violent crime remains below regional averages.
The neighborhood's overall crime ranking places it in the 52nd percentile nationally, indicating moderate safety conditions typical of urban core locations. Recent crime reduction trends suggest improving security conditions that may support tenant retention and property values over time.
The property benefits from proximity to major corporate employers within the greater Los Angeles region, providing workforce housing opportunities for professional tenants.
- Chevron — energy services (8.4 miles)
- Ryder Vehicle Sales — commercial vehicle services (10.8 miles)
- Edison International — utility services (11.6 miles) — HQ
- United Technologies — aerospace & defense (13.7 miles)
- Waste Management — environmental services (13.7 miles)
This 22-unit Azusa property offers compelling fundamentals anchored by exceptional neighborhood occupancy rates of 100%, ranking first among 1,441 Los Angeles metro neighborhoods. Built in 1987, the property presents value-add potential through strategic unit improvements while benefiting from elevated home ownership costs that sustain rental demand in the market.
The investment case strengthens with commercial real estate analysis showing strong rent levels at $1,935 median and healthy net operating income performance ranking in the 73rd percentile nationally. Demographics within a 3-mile radius support stable tenant demand with growing household formation and median incomes of $94,430 providing adequate rental affordability.
- Exceptional 100% neighborhood occupancy rates rank first among metro submarkets
- Strong rent levels at $1,935 place area in 90th percentile nationally
- Value-add potential through selective unit improvements given 1987 construction
- Elevated ownership costs reinforce rental demand fundamentals
- Risk consideration: Monitor potential competition from ownership options as market conditions change