| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 45th | Fair |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20644 E Arrow Hwy, Covina, CA, 91724, US |
| Region / Metro | Covina |
| Year of Construction | 1979 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20644 E Arrow Hwy Covina Multifamily Investment
This 64-unit property in Covina benefits from strong neighborhood occupancy at 96.7% and rising household incomes, according to CRE market data from WDSuite.
This 64-unit multifamily property, constructed in 1979, sits in an Urban Core neighborhood that ranks above metro median among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods. The property's vintage aligns with the neighborhood average, suggesting minimal capital expenditure pressures compared to significantly older stock in the area.
Neighborhood-level occupancy trends show strength at 96.7%, ranking in the 81st percentile nationally and indicating stable absorption dynamics. Contract rents average $1,908 with 17.6% growth over five years, while the area maintains a 36.2% share of renter-occupied housing units. Demographics within a 3-mile radius show household income growth of 26.7% over five years to a median of $99,466, supporting rent collection stability.
The area offers solid amenity density with 1.99 cafes per square mile (94th percentile nationally) and 3.97 grocery stores per square mile (93rd percentile nationally), supporting tenant retention. Home values averaging $527,605 with 26.7% appreciation over five years reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing. Forward-looking demographics project household growth of 31.6% through 2028, expanding the potential tenant base.
Crime metrics place this neighborhood in the middle range among Los Angeles metro neighborhoods, with property offense rates declining 20.5% year-over-year and violent crime down 13.0%. These improving trends rank in the 64th and 63rd percentiles nationally respectively, indicating better-than-average crime reduction compared to neighborhoods nationwide.
The overall crime environment ranks 759th among 1,441 metro neighborhoods, placing it near the metro median. While not in the top safety quartile, the consistent year-over-year improvements in both property and violent crime rates suggest positive momentum that can support tenant retention and leasing stability.
The property benefits from proximity to diverse corporate employers that support workforce housing demand, including automotive, energy, and technology companies within commuting distance.
- Ryder Vehicle Sales — automotive services (8.9 miles)
- Chevron — energy (10.5 miles)
- Waste Management — environmental services (11.8 miles)
- United Technologies — aerospace & defense (13.4 miles)
- Edison International — utilities (13.6 miles) — HQ
This 64-unit Covina property presents a stable multifamily investment opportunity anchored by strong neighborhood fundamentals. Occupancy rates of 96.7% exceed national averages, while household income growth of 26.7% over five years supports rent collection reliability. The 1979 construction year aligns with neighborhood norms, minimizing immediate capital expenditure pressures while offering potential value-add opportunities through strategic improvements.
Demographic projections show household growth of 31.6% through 2028 within the 3-mile radius, expanding the renter pool and supporting long-term occupancy stability. Commercial real estate analysis indicates the area's amenity density and employment base provide solid tenant retention drivers, though investors should monitor the middle-tier crime metrics and competitive rental supply as key risk factors.
- Strong neighborhood occupancy at 96.7% ranks in 81st percentile nationally
- Household income growth of 26.7% over five years supports rent stability
- Projected 31.6% household growth through 2028 expands tenant base
- 1979 vintage aligns with area average, reducing immediate capex pressure
- Monitor middle-tier crime metrics and competitive supply dynamics