| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 67th | Good |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2844 Montrose Ave, La Crescenta, CA, 91214, US |
| Region / Metro | La Crescenta |
| Year of Construction | 1975 |
| Units | 27 |
| Transaction Date | 1994-10-18 |
| Transaction Price | $1,595,000 |
| Buyer | ZEHNALY GHAZAR |
| Seller | HABASHI MAHER F |
2844 Montrose Ave La Crescenta Multifamily Investment
This 27-unit property built in 1975 sits in a neighborhood ranking in the top third for housing fundamentals among 1,441 Los Angeles metro neighborhoods, with strong occupancy rates and rental demand supported by commercial real estate analysis from WDSuite.
La Crescenta's neighborhood demonstrates solid fundamentals for multifamily investors, with 95.2% occupancy rates that rank above metro median among 1,441 Los Angeles area neighborhoods. The area maintains a substantial rental base, with 65.5% of housing units occupied by renters—placing it in the 96th percentile nationally for rental concentration. This high renter share supports consistent tenant demand and occupancy stability.
Demographics within a 3-mile radius show a mature, higher-income tenant base with median household income of $134,023 and strong educational attainment, with nearly 30% holding bachelor's degrees. Population projections indicate modest household growth through 2028, with the renter pool expected to expand as household formation continues. The area's median home value of $770,019 reinforces rental demand, as elevated ownership costs keep households in the rental market longer.
The property's 1975 construction year aligns with the neighborhood average of 1981, suggesting value-add potential through strategic renovations and unit improvements. Median contract rent of $2,332 within the 3-mile radius provides context for rental positioning, while the neighborhood's strong occupancy fundamentals indicate stable absorption and renewal rates. Amenity density includes adequate childcare access, though dining and retail options remain limited, which may impact tenant retention strategies.
Safety metrics for the La Crescenta area show mixed trends that warrant monitoring. Property crime rates of 234 incidents per 100,000 residents place the neighborhood near the middle of Los Angeles metro areas, ranking 534th among 1,441 neighborhoods. However, recent property crime trends show a 15.5% increase year-over-year, positioning the area in the lower third of metro neighborhoods for crime trajectory.
Violent crime rates remain relatively contained at 57 incidents per 100,000 residents, though recent volatility in violent crime reporting suggests the need for ongoing assessment. Investors should factor these safety dynamics into tenant retention strategies and consider security enhancements as part of property improvements.
The property benefits from proximity to major corporate employers that support workforce housing demand, including several Fortune 500 headquarters within commuting distance.
- Avery Dennison — manufacturing & materials (4.2 miles) — HQ
- Charter Communications — telecommunications (6.0 miles)
- Disney — entertainment & media (6.3 miles) — HQ
- Radio Disney — media operations (7.2 miles)
- Live Nation Entertainment — entertainment services (9.9 miles)
This 27-unit property presents a value-add opportunity in a fundamentally sound rental market. Built in 1975, the asset offers renovation upside to capture higher rents while benefiting from neighborhood occupancy rates of 95.2% that exceed metro medians. The area's 65.5% rental concentration—ranking in the 96th percentile nationally—demonstrates deep tenant demand, while elevated home values of $770,019 sustain rental market participation among middle and upper-middle income households.
According to CRE market data from WDSuite, the neighborhood's demographic profile supports stable multifamily performance, with household growth projected through 2028 and a mature tenant base earning median incomes of $134,023. The property's vintage aligns with value-add strategies common in this submarket, where strategic improvements can drive NOI growth while benefiting from strong underlying rental fundamentals.
- Strong neighborhood occupancy at 95.2% supports absorption and renewal stability
- High rental concentration (96th percentile nationally) indicates sustained tenant demand
- 1975 construction presents value-add potential through strategic renovations
- Proximity to major employers including Disney and Avery Dennison headquarters
- Risk: Recent uptick in property crime rates requires ongoing monitoring and potential security investments