| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 45th | Fair |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21042 E Arrow Hwy, Covina, CA, 91724, US |
| Region / Metro | Covina |
| Year of Construction | 1987 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21042 E Arrow Hwy Covina Multifamily Investment
Neighborhood occupancy trends are resilient and competitive within the Los Angeles metro, supporting stable leasing performance, according to WDSuite’s CRE market data.
Situated in Covina within the Los Angeles-Long Beach-Glendale metro, the property benefits from an Urban Core setting where neighborhood occupancy is strong and ranks competitive among 1,441 Los Angeles metro neighborhoods. Elevated occupancy at the neighborhood level points to steady demand and supports income stability for multifamily investors.
Local amenity access is mixed but practical for daily needs. Cafes and restaurants index high nationally (both in the mid-90s percentiles), and grocery coverage is similarly strong, which helps with resident convenience and retention. Park and pharmacy counts within the immediate neighborhood footprint are limited, so investors should weigh on-site amenities and nearby alternatives when underwriting.
The property’s 1987 vintage is newer than the neighborhood’s average construction year (late 1970s). That positioning can provide a competitive edge versus older stock, while still warranting capital planning for aging systems or targeted upgrades to enhance rentability and reduce long-term maintenance risk.
Tenure patterns indicate a moderate renter concentration (renter-occupied share in the mid-30% range at the neighborhood level). For investors, this suggests a meaningful tenant base without over-reliance on rentals, helping anchor demand while limiting exposure to abrupt swings in renter turnover.
Within a 3-mile radius, population has been essentially flat in recent years while household counts have edged higher, implying smaller household sizes and a gradually expanding renter pool. Looking ahead, forecasts point to further increases in households alongside a decline in average household size, which can support occupancy stability and deepen the prospective tenant base for well-located multifamily assets.
Home values in the neighborhood are elevated relative to national norms, and the value-to-income ratio trends on the higher side for the region. In practice, a high-cost ownership market often sustains reliance on rentals, reinforcing demand depth and helping support pricing power and lease retention for competitively positioned properties.
Safety metrics for the neighborhood are around the national midpoint overall, with rankings placing it near the metro middle as well (relative to 1,441 Los Angeles metro neighborhoods). Recent year-over-year trends indicate declines in both violent and property offense rates, which is a constructive signal for long-term hold strategies, though investors should continue to monitor trajectory at the neighborhood level.
Nearby corporate offices help underpin renter demand through steady employment access and reasonable commutes, notably including Ryder Vehicle Sales, Chevron, Waste Management, United Technologies, and Edison International.
- Ryder Vehicle Sales — corporate offices (8.7 miles)
- Chevron — corporate offices (10.8 miles)
- Waste Management — corporate offices (11.6 miles)
- United Technologies — corporate offices (13.4 miles)
- Edison International — corporate offices (14.0 miles) — HQ
This 40-unit asset built in 1987 sits in a Los Angeles metro neighborhood with solid renter demand and competitive occupancy, supporting durable income. The submarket’s high-cost ownership backdrop and strong everyday amenities (notably food and grocery density) reinforce leasing fundamentals, while a moderate renter-occupied share suggests depth without overconcentration. Within a 3-mile radius, households are increasing as average household size trends lower, expanding the renter pool and supporting sustained occupancy for well-positioned units. According to CRE market data from WDSuite, neighborhood occupancy performance has been strong relative to national norms, aligning with the area’s consistent demand profile.
Vintage provides room for targeted value-add: systems may benefit from modernization, but being newer than the area’s average stock can help with competitive positioning against older comparables. Underwriting should account for amenity trade-offs (limited parks/pharmacies within the immediate neighborhood) and monitor safety trends that currently sit near the national middle but have improved year over year.
- Competitive neighborhood occupancy supports income stability
- 1987 vintage is newer than local average, with modernization upside
- High-cost ownership market sustains rental demand and retention
- 3-mile area shows more households and smaller sizes, expanding renter pool
- Risks: limited parks/pharmacies nearby and safety near national median warrant monitoring