| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Poor |
| Demographics | 81st | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 N Myrtle Ave, Monrovia, CA, 91016, US |
| Region / Metro | Monrovia |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
115 N Myrtle Ave Monrovia Multifamily Opportunity
High home values and a sizable renter base in the area underpin steady demand, according to WDSuite’s CRE market data, supporting a durable leasing story for a well-run 1970s asset.
Positioned in Monrovia’s Inner Suburb fabric, the neighborhood is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 493 of 1,441). Local living fundamentals are balanced: national amenity signals are mixed overall, yet everyday convenience is strong with grocery and restaurant density in the top quartile nationally, while parks, pharmacies, and cafes are limited within the immediate neighborhood. For family-oriented renters, childcare access also trends in the top quartile.
Schools average roughly 4.0 out of 5 and sit in the top quartile nationally, an element that can bolster retention for larger units. Median home values track in a high-cost ownership market (upper national percentiles), which generally sustains reliance on multifamily housing and supports pricing power without overextending lease affordability. Rent-to-income levels in the neighborhood are moderate by national comparison, a positive for lease management.
Demographic statistics aggregated within a 3-mile radius show households expanding recently despite a slight population dip, implying smaller household sizes and a broader renter pool. Forward-looking projections point to increases in both households and incomes, which can translate into deeper tenant demand and support occupancy stability as new renters enter the market.
At the asset level, the 1973 vintage is newer than much of the surrounding housing stock (which skews older), suggesting a relative competitive edge versus pre-war properties. Investors should still plan for modernization of aging systems and common areas to capture value-add upside and align with today’s renter expectations.
Comparable neighborhood-level safety data is not available for this location in WDSuite at this time. For underwriting, investors often pair city and county trend reviews with property-specific history and insurance quotes to contextualize risk alongside local leasing dynamics.
Nearby corporate offices provide a diverse employment base that supports weekday traffic and multifamily renter demand, with energy, utilities, manufacturing, and materials among the notable drivers listed below.
- Chevron — energy (5.9 miles)
- Edison International — utilities (8.1 miles) — HQ
- International Paper — packaging & paper (14.0 miles)
- Avery Dennison — materials & labeling (14.6 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (15.9 miles) — HQ
115 N Myrtle Ave is a 32-unit, 1973-vintage asset with average unit sizes near 770 sf, positioned in a competitive Los Angeles County neighborhood. The surrounding area combines top-quartile grocery/restaurant access and strong school ratings with elevated ownership costs, which tends to reinforce multifamily demand and support rent durability relative to incomes. Based on CRE market data from WDSuite, household counts within a 3-mile radius have been expanding even as household sizes edge down, a setup that can broaden the tenant base over time.
Vintage and location point to a straightforward value-add path: targeted systems upgrades and common-area refreshes can enhance competitive positioning versus older local stock, while the high-cost ownership landscape supports renter retention. Investors should weigh neighborhood occupancy trends that have eased in recent years against the depth of the regional job base and projected household growth when calibrating business plans.
- High-cost ownership market sustains rental reliance and supports pricing power
- 1973 vintage offers value-add potential via unit and systems modernization
- Top-quartile schools and daily-needs access bolster family-friendly appeal and retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: neighborhood occupancy has eased; execution should emphasize leasing management and renewal retention