| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 33rd | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5229 N Barranca Ave, Covina, CA, 91722, US |
| Region / Metro | Covina |
| Year of Construction | 1987 |
| Units | 26 |
| Transaction Date | 1997-01-08 |
| Transaction Price | $325,500 |
| Buyer | CLOSS FAMILY LTD PARTNERSHIP |
| Seller | KELLY MICHAEL C |
5229 N Barranca Ave Covina 26-Unit Investment
Neighborhood occupancy remains exceptionally tight and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data; note that occupancy metrics reference the neighborhood, not the property.
Situated in Covina within the Los Angeles-Long Beach-Glendale metro, the immediate neighborhood trends as Urban Core with a C- neighborhood rating and ranks 1,173 out of 1,441 metro neighborhoods, placing it below the metro median. For investors, this points to a working-class renter base and steady demand drivers rather than premium positioning.
Daily convenience is mixed: restaurants score in the 74th percentile nationally and pharmacies sit in the 91st percentile, while cafes, parks, and grocery stores are sparse within the neighborhood. This pattern suggests residents rely on nearby corridors for certain amenities, yet still benefit from essential services close by.
Renter concentration is meaningful at the neighborhood level (about 44% of housing units are renter-occupied, above many U.S. areas), supporting depth of tenant demand for multifamily. Median rents and household incomes sit in higher national percentiles, and a rent-to-income ratio near 0.25 indicates relatively manageable rent loads for many households, which can aid retention and stabilize collections.
Demographics aggregated within a 3-mile radius show modest population growth in recent years and a 5.4% increase in households, expanding the tenant base. Projections through 2028 point to additional household growth alongside smaller average household sizes, which typically supports ongoing renter pool expansion and occupancy stability based on commercial real estate analysis benchmarks from WDSuite.
Vintage context matters: with a 1987 construction year, the asset is slightly newer than the neighborhood’s average vintage (1984). That positioning tends to be competitive versus older stock, though targeted modernization and system updates may still be part of capital planning to enhance rents and leasing velocity.
Safety indicators are mixed but broadly around national medians. Overall crime performance tracks near the metro middle (ranked 784 among 1,441 Los Angeles–area neighborhoods), translating to a national safety profile just above the median (52nd percentile). Property offenses trend comparatively better (around the 59th percentile nationally), while violent offenses align closer to the national midpoint (43rd percentile).
Recent momentum is nuanced: estimated property offense rates improved year over year, landing in a stronger national trend position (around the 74th percentile for improvement), whereas violent offense trends moved the other way (around the 31st percentile for improvement). For investors, this suggests a typical urban risk profile where standard safety measures, lighting, and resident engagement can help support tenant retention.
Proximity to established corporate employers underpins a diversified employment base and supports renter demand via commute convenience. Key nearby employers include Chevron, Ryder Vehicle Sales, Edison International, Waste Management, and United Technologies.
- Chevron — energy (8.8 miles)
- Ryder Vehicle Sales — transportation & logistics (10.4 miles)
- Edison International — utilities (11.9 miles) — HQ
- Waste Management — environmental services (13.3 miles)
- United Technologies — aerospace & industrial (13.6 miles)
This 26-unit, 1987-vintage asset benefits from tight neighborhood occupancy and a renter base supported by elevated home values in Los Angeles County, reinforcing reliance on multifamily housing. Based on CRE market data from WDSuite, the neighborhood posts strong occupancy alongside higher-than-average household incomes and a rent-to-income ratio that suggests manageable rent levels for many tenants — important for collections stability and lease retention.
Within a 3-mile radius, households have grown and are projected to increase further as average household sizes trend smaller, expanding the tenant pool. The property’s slightly newer vintage versus local stock provides relative competitiveness, while targeted upgrades could unlock value-add upside without overextending capital plans.
- Tight neighborhood occupancy supports stable leasing and cash flow potential.
- Elevated ownership costs in the area reinforce multifamily demand and retention.
- 1987 vintage offers competitive positioning with optional modernization for rent lift.
- 3-mile household growth and smaller household sizes expand the renter base.
- Risk: amenity gaps and mixed safety trends warrant asset management focus on security and resident experience.