| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 51st | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 131 N Barranca Ave, Covina, CA, 91723, US |
| Region / Metro | Covina |
| Year of Construction | 1979 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
131 N Barranca Ave Covina Multifamily Investment
Neighborhood occupancy sits above the Los Angeles metro median, pointing to steadier rent rolls for operators in this submarket, according to WDSuite’s CRE market data.
Positioned in Covina’s inner-suburban fabric, the neighborhood rates among the top quartile of the 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, signaling balanced livability and investment appeal. Parks, restaurants, and pharmacies are notably dense here, with parks and dining options reaching top-decile levels nationally—conveniences that support retention and leasing. By contrast, grocery density is thinner within the immediate neighborhood footprint, so residents may rely on nearby districts for full-line shopping.
Multifamily fundamentals are constructive: the neighborhood’s occupancy is above the metro median, which typically supports pricing power and lower downtime between turns. Renter concentration is in the low-to-mid range (roughly two-fifths of housing units are renter-occupied), indicating a meaningful tenant base without oversaturation—an attractive profile for maintaining demand depth.
Within a 3-mile radius, household counts have been rising and are projected to continue growing even as average household size trends lower—dynamics that expand the renter pool and can support occupancy stability. Elevated home values relative to national norms suggest a high-cost ownership market, which tends to reinforce reliance on multifamily housing and can bolster lease retention. At the same time, rent-to-income levels track near manageable ranges locally, a combination that supports steady collections while helping mitigate turnover risk.
Safety indicators compare modestly better than the national midpoint overall, with violent incident measures in the stronger range—top quartile nationally—relative to neighborhoods nationwide. This profile tends to support tenant retention and leasing confidence for professionally managed assets.
Property crime shows a less favorable short‑term trend locally, with a recent year-over-year increase. Owners commonly address this with practical measures such as lighting, access control, and coordination with local resources. On balance, the neighborhood reads as broadly comparable to national norms, with strengths in violent-crime measures offset by property-crime volatility.
The location draws on a diversified employment base that supports renter demand and commute convenience, including energy, logistics, utilities, aerospace, and environmental services within a 8–13 mile radius.
- Chevron — energy (8.5 miles)
- Ryder Vehicle Sales — logistics & fleet services (9.6 miles)
- Edison International — utilities (11.6 miles) — HQ
- United Technologies — aerospace & industrial (12.1 miles)
- Waste Management — environmental services (12.6 miles)
This 20‑unit asset in Covina benefits from neighborhood occupancy that trends above the metro median and a renter base supported by high ownership costs nearby. Within a 3-mile radius, rising household counts and a shift toward smaller households point to a larger tenant base over time, which can underpin leasing stability for well-managed properties. According to CRE market data from WDSuite, local amenities—especially parks, restaurants, and pharmacies—compare strongly at the national level, a tailwind for retention.
Average unit sizes around 784 sf offer practical layouts for workforce and dual-income households. While property-crime trends have been choppy, they are manageable with standard security and operations practices. Overall, the setting supports steady occupancy with potential to maintain competitive rents without overreliance on outsized growth assumptions.
- Above-metro neighborhood occupancy supports lower downtime between turns
- High ownership costs in the area reinforce multifamily renter reliance and lease retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Strong amenity access (parks, dining, pharmacies) supports tenant satisfaction
- Risk: recent property-crime volatility and limited immediate grocery options warrant proactive operations