| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 72nd | Best |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1938 Rock Ln, La Verne, CA, 91750, US |
| Region / Metro | La Verne |
| Year of Construction | 1973 |
| Units | 120 |
| Transaction Date | 2016-03-24 |
| Transaction Price | $48,100,000 |
| Buyer | MG MONTE VISTA APARTMENTS COR LP |
| Seller | WNRA MONTE VISTA LLC |
1938 Rock Ln, La Verne CA Multifamily Investment
Neighborhood occupancy remains elevated and stable, supporting income durability for a 120-unit asset in an inner-suburban location, according to WDSuite’s CRE market data. With steady renter demand and strong local amenities, this submarket offers a balanced risk profile for long-term holders.
The property sits in La Verne’s inner-suburban context within the Los Angeles-Long Beach-Glendale metro and carries an A- neighborhood rating. Amenity access is a clear advantage: neighborhood cafe density ranks in the top quartile nationally and restaurants and pharmacies also test well versus national peers, while parks and childcare options are comparatively limited. Average school ratings are strong (above the 80th percentile nationally), which can support resident retention for family-oriented renter cohorts.
Rents in the neighborhood skew above national norms and occupancy for the neighborhood is high, with recent history indicating limited availability and steady lease-up velocity. Median contract rents in the area have risen over the last five years and remain competitive for Los Angeles County, while WDSuite’s CRE market data also shows neighborhood occupancy around the high-90s; this is a neighborhood statistic, not the property’s performance.
Vintage matters for underwriting: the asset was built in 1973, older than the neighborhood’s average construction year (late 1980s). That age profile typically points to planned capital expenditures and potential value-add through unit and systems modernization, particularly given strong occupancy fundamentals that can support renovation programs.
Tenure patterns indicate a meaningful renter base: roughly one-third of housing units in the neighborhood are renter-occupied, providing depth for multifamily demand without excessive concentration risk. Within a 3-mile radius, household counts have grown in recent years and are projected to increase further, with incomes trending higher; this combination supports a larger tenant base and sustained leasing. At the same time, a high-cost ownership landscape relative to incomes in the neighborhood tends to reinforce reliance on rental housing, though rent-to-income ratios suggest some affordability pressure that owners should monitor for pricing power and renewal management.
Safety indicators are mixed and should be evaluated in context. Compared with neighborhoods nationwide, violent offense rates track in the safer tier (around the 70th percentile), and recent year-over-year trends show a material decline in violent incidents. Property offenses, however, sit below the national median (around the mid-30s percentile) and have increased recently, indicating the need for standard multifamily security measures and vigilant asset management.
Within the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods), overall crime levels place this area near the middle of the pack rather than at an extreme. Investors should focus on practical mitigants—lighting, access control, and resident engagement—while monitoring trend data over time rather than single-period fluctuations.
Proximity to diversified corporate employers supports commuter convenience and broad renter demand, led by logistics, waste services, medical distribution, consumer goods, and utility headquarters within a reasonable drive.
- Ryder Vehicle Sales — logistics and fleet services (7.0 miles)
- Waste Management — environmental services (9.2 miles)
- Mckesson Medical Surgical — medical distribution (12.1 miles)
- General Mills — consumer packaged goods (15.0 miles)
- Edison International — utility holding company (18.3 miles) — HQ
This 120-unit, 1973-vintage asset benefits from a neighborhood with strong occupancy, solid school quality, and amenity depth that is competitive nationally. Based on commercial real estate analysis from WDSuite, the submarket’s high neighborhood occupancy and above-average rent positioning support income stability, while the property’s older vintage creates a straightforward value-add path through interior and building-system upgrades.
Investor focus should balance demand strength with prudent affordability and operating risk management. Renter-occupied share is meaningful but not dominant, indicating a wide tenant pool without overreliance on transient demand. Income growth within a 3-mile radius and projected household expansion point to a larger renter base over time, yet elevated rent-to-income levels call for measured rent setting, renewal strategy, and ongoing cost control.
- High neighborhood occupancy and strong leasing fundamentals support revenue durability
- 1973 vintage offers value-add potential via unit modernization and systems upgrades
- Amenity and school strengths enhance retention and broaden renter appeal
- Diverse employer base within commuting range underpins steady renter demand
- Risk: rent-to-income pressures and mixed property-crime trends warrant conservative rent growth and security planning