| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 41st | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1335 N Barranca Ave, Covina, CA, 91722, US |
| Region / Metro | Covina |
| Year of Construction | 1977 |
| Units | 38 |
| Transaction Date | 2018-03-12 |
| Transaction Price | $9,200,000 |
| Buyer | The Stanley A. Sirott Trust, dated 6/25/1992 |
| Seller | Curtis Properties, Inc. |
1335 N Barranca Ave Covina Multifamily Investment
Neighborhood fundamentals point to durable renter demand in a high-cost ownership market, according to WDSuite s CRE market data. Expect steady occupancy supported by regional employment depth and strong parks and dining access at the neighborhood level.
Located in Covina s inner suburbs of the Los Angeles-Long Beach-Glendale metro, the immediate neighborhood shows mixed but investable signals for multifamily. Restaurant density is competitive nationally (95th percentile), while park access ranks near the top nationwide (98th percentile). In contrast, counts of cafes, groceries, and pharmacies are limited within this specific neighborhood cluster (each ranked 1,441st among 1,441 metro neighborhoods), suggesting residents rely on nearby corridors for daily needs.
Rents in the neighborhood test above national norms (83rd percentile), and neighborhood occupancy is above the national median (63rd percentile), which can support income stability. The neighborhood s average NOI per unit ranks in the upper tier nationally (83rd percentile), indicating competitive income performance versus many U.S. submarkets, based on CRE market data from WDSuite.
Vintage matters: the property was built in 1977, while the neighborhood s average construction year skews newer (1994; ranked 96th of 1,441 in the metro). Older stock can benefit from targeted capital improvements and value-add upgrades to enhance competitiveness against newer inventory.
Tenure patterns suggest a modest renter concentration at the neighborhood level (about one-quarter of housing units are renter-occupied; ranked 992nd of 1,441), pointing to a stable but not oversupplied tenant base. At the broader 3-mile radius, demographics show recent population growth with a notable increase in households and a trend toward smaller household sizes, which typically widens the renter pool and supports occupancy and leasing velocity. Rising household incomes in the 3-mile area further underpin purchasing power for market-rate rentals.
Home values in the neighborhood rank high nationally (90th percentile) and the value-to-income ratio is elevated, signaling a high-cost ownership market that tends to reinforce reliance on multifamily rentals. Combined with a rent-to-income profile near national medians, this supports lease retention and measured pricing power without overextending affordability.
Safety indicators are comparatively favorable versus many neighborhoods nationwide, with overall conditions around the 61st national percentile and violent offense rates near the 70th percentile (safer relative to U.S. neighborhoods), according to WDSuite s data. Within the Los Angeles-Long Beach-Glendale metro, the neighborhood sits mid-pack, and recent estimates show property offenses trending lower year over year, which is a constructive signal for long-term operations and tenant retention.
Proximity to established corporate employers supports commute convenience and a diversified renter base. Notable nearby employers include Chevron, Ryder Vehicle Sales, Edison International, Waste Management, and United Technologies.
- Chevron mdash; energy (8.7 miles)
- Ryder Vehicle Sales mdash; transportation & logistics (10.2 miles)
- Edison International mdash; utilities (11.9 miles) mdash; HQ
- Waste Management mdash; environmental services (13.2 miles)
- United Technologies mdash; aerospace & industrial (13.3 miles)
This 38-unit, 1977-vintage asset offers value-add potential in a high-cost ownership pocket of Los Angeles County where renters lean on multifamily options. Neighborhood rents sit above national norms and occupancy is above the national median, supporting stable cash flow, while strong park access and abundant dining options enhance livability. According to CRE market data from WDSuite, income performance indicators for the neighborhood are competitive nationally, and a smaller average household size within the 3-mile radius points to a steady renter pipeline.
Key considerations include limited immediate access to certain daily retail (groceries, pharmacies, cafes) within the neighborhood cluster and a renter share that is moderate rather than high, which places a premium on effective unit renovations and leasing strategy to outperform newer stock across the metro.
- High-cost ownership market supports sustained rental demand and retention
- Above-median neighborhood occupancy and competitive income metrics
- 1977 vintage offers clear value-add and CapEx upgrade pathways
- 3-mile demographics show growing household counts and rising incomes, expanding the renter base
- Risk: limited immediate daily retail and moderate renter concentration require focused leasing and amenity strategy