| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 45th | Fair |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1360 3rd St, La Verne, CA, 91750, US |
| Region / Metro | La Verne |
| Year of Construction | 1972 |
| Units | 96 |
| Transaction Date | 2015-11-13 |
| Transaction Price | $16,750,000 |
| Buyer | NNC APARTMENT VENTURES LLC |
| Seller | REDFERN THOMAS W |
1360 3rd St La Verne Multifamily Investment Outlook
Neighborhood occupancy is steady and ownership costs are elevated for the area, pointing to durable renter demand in La Verne, according to WDSuite’s CRE market data. Investor focus should center on retention and pricing strategies aligned to local affordability and household growth.
La Verne sits within the Los Angeles-Long Beach-Glendale metro and this neighborhood scores a C rating (ranked 1,121 among 1,441 metro neighborhoods), indicating performance below the metro median but serviceable fundamentals for workforce-oriented multifamily. Neighborhood occupancy is in the upper half nationally (66th percentile), a useful signal for income stability at the submarket level rather than the property specifically.
Daily needs are supported by grocery and dining access, with neighborhood density of groceries and restaurants performing in the mid‑80s percentiles nationally. However, limited presence of parks, cafes, and childcare (ranks near the bottom among 1,441 metro neighborhoods) suggests fewer lifestyle amenities within immediate reach, which may influence leasing velocity for lifestyle-driven renters.
Renter concentration at the neighborhood level is roughly one‑third of housing units being renter‑occupied (above the national median), which supports a meaningful but not oversaturated tenant base. Elevated home values and a high value‑to‑income profile for the neighborhood reinforce reliance on rental options, sustaining depth of demand and aiding lease retention.
Within a 3‑mile radius, demographic statistics show households grew even as population modestly contracted over the past five years, pointing to smaller household sizes and an expanding base of households entering the market. Projections indicate population growth and a substantial increase in households through 2028, which should enlarge the local renter pool and support occupancy stability. Median incomes in the 3‑mile radius have risen, while rising rents and a neighborhood rent‑to‑income ratio near 30% call for disciplined lease management to balance pricing power with retention.
Safety signals are mixed when viewed comparatively. Overall crime performance sits around the national midpoint (48th percentile), placing the neighborhood competitive but not top‑tier among Los Angeles metro peers (rank position 877 of 1,441 indicates room for improvement).
Recent trends diverge: violent‑offense estimates improved notably year over year (Top quartile nationally), while property‑offense rates increased. For investors, this implies routine risk management—lighting, access control, and coordination with professional security vendors—as appropriate to protect tenant experience and stabilize operating performance.
Nearby corporate nodes across transportation, utilities, industrial, and healthcare distribution underpin commuter demand and support leasing consistency for workforce housing. Key employers within practical drive times include Ryder Vehicle Sales, Waste Management, McKesson Medical Surgical, and Edison International.
- Ryder Vehicle Sales — transportation & fleet services (6.3 miles)
- Waste Management — waste & environmental services (8.9 miles)
- McKesson Medical Surgical — healthcare distribution (11.6 miles)
- United Technologies — aerospace & industrial (13.9 miles)
- Chevron — energy (14.2 miles)
- General Mills — food manufacturing (15.4 miles)
- Edison International — utility services (17.3 miles) — HQ
- International Paper — packaging (19.4 miles)
- LKQ — auto parts distribution (19.8 miles)
- Raytheon Public Safety RTC — defense (22.6 miles)
This 96‑unit La Verne asset benefits from neighborhood occupancy that trends above the national median and a renter base supported by a high‑cost ownership landscape. Household growth within a 3‑mile radius—despite prior population softness—indicates a larger tenant base driven by smaller household sizes, which should aid leasing and support rent rolls as renewals cycle.
According to commercial real estate analysis from WDSuite, neighborhood NOI per unit sits in the top decile nationally, and area restaurants/grocery access are competitive, offsetting limited parks and cafe density. With median rents rising and a neighborhood rent‑to‑income ratio near 30%, operators should emphasize retention‑minded pricing and targeted value‑add that enhances durability of cash flows.
- Occupancy and renter concentration support stable tenant demand
- High ownership costs reinforce reliance on rental housing and lease retention
- 3‑mile household growth expands the renter pool and supports leasing
- Amenity access to groceries and dining helps competitiveness versus peers
- Risks: property‑crime volatility, limited parks/cafes nearby, and affordability pressure near 30% rent‑to‑income