| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 61st | Good |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19525 E Covina Blvd, Covina, CA, 91724, US |
| Region / Metro | Covina |
| Year of Construction | 1982 |
| Units | 44 |
| Transaction Date | 2023-10-12 |
| Transaction Price | $13,950,000 |
| Buyer | FLAG VII CHARTER OAKS LP |
| Seller | CHARTER OAK APARTMENTS |
19525 E Covina Blvd Covina Multifamily Opportunity
Stable neighborhood fundamentals and high occupancy support resilient cash flow potential, according to WDSuite’s CRE market data. Investor focus: steady renter demand in an inner-suburb location with limited new supply signals.
Covina’s inner-suburb setting offers daily-needs convenience with strong grocery, pharmacy, and restaurant access, while cafes, childcare, and parks are thinner nearby. Average school ratings sit modestly above national norms, giving family-oriented renters a workable baseline without commanding premium pricing purely on schools.
For investors, the neighborhood shows top quartile nationally on housing fundamentals and competitive income performance, including strong occupancy that has held firm in recent years. This points to durable leasing and low downtime risk relative to many Los Angeles-Long Beach-Glendale submarkets, based on CRE market data from WDSuite.
Tenure dynamics are supportive: the neighborhood’s share of renter-occupied housing units is elevated versus many peer areas, indicating a deeper multifamily tenant base. In a high-cost ownership market with elevated home values and value-to-income ratios, renting remains a practical alternative, which can aid lease retention and pricing power over the hold period.
Demographics aggregated within a 3-mile radius show households have increased and are projected to rise further even as overall population remains roughly flat and average household size trends smaller. That mix typically expands the renter pool and supports occupancy stability, especially for well-managed assets positioned to capture move-down, roommate, and small-family demand segments.
Safety indicators are mixed but improving in trend terms. Overall crime levels are slightly better than the national middle, while violent and property offense benchmarks sit closer to mid-pack nationally. Recent year-over-year declines in both property and violent offense estimates suggest momentum in the right direction, offering incremental support for renter retention compared with weaker submarkets in the Los Angeles-Long Beach-Glendale metro.
Nearby employers span energy, logistics, utilities, waste services, and diversified industrials, supporting a broad renter base and commute-friendly demand. Specifically, the area draws workforce from Chevron, Ryder Vehicle Sales, Edison International, Waste Management, and United Technologies.
- Chevron — energy (9.2 miles)
- Ryder Vehicle Sales — logistics & vehicle services (9.6 miles)
- Edison International — utilities (12.4 miles) — HQ
- Waste Management — environmental services (12.5 miles)
- United Technologies — diversified industrials (13.0 miles)
This 44-unit asset benefits from a renter-oriented neighborhood where occupancy remains strong and NOI performance is competitive versus many metro peers. High ownership costs in Los Angeles County tilt households toward renting, which can reinforce demand depth and limit downtime across cycles, according to CRE market data from WDSuite.
Neighborhood-level strengths include top-quartile housing and income performance, strong daily-needs access, and a diverse employer base within commuting distance. Demographic patterns within a 3-mile radius point to growth in households and gradually smaller household sizes, which typically expand the renter pool and support lease-up and retention. Key watch items include average school quality, thinner lifestyle amenities (cafes/parks), and safety metrics that, while showing improvement, warrant continued monitoring.
- High neighborhood occupancy and competitive income performance support cash flow durability
- Renter-occupied concentration and high-cost ownership market reinforce leasing demand
- Household growth and smaller household sizes (3-mile radius) expand the tenant base
- Diverse nearby employers underpin workforce housing demand and retention
- Risks: average schools, thinner lifestyle amenities, and safety levels that merit ongoing monitoring