| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 63rd | Good |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 340 W Duarte Rd, Monrovia, CA, 91016, US |
| Region / Metro | Monrovia |
| Year of Construction | 1986 |
| Units | 76 |
| Transaction Date | 2006-04-06 |
| Transaction Price | $9,000,000 |
| Buyer | 340 WEST DUARTE LLC |
| Seller | MONROVIA VILLAS LLC |
340 W Duarte Rd, Monrovia CA Multifamily Investment
Neighborhood data points to stable renter demand supported by a majority of renter-occupied units and solid occupancy in the surrounding area, according to WDSuite’s CRE market data. Investors evaluating Los Angeles County workforce nodes may find durable leasing fundamentals relative to the metro.
Located in Monrovia within Los Angeles County’s Urban Core fabric, the property benefits from neighborhood conditions that are competitive among Los Angeles-Long Beach-Glendale neighborhoods while trending above national medians on several housing and income measures, based on WDSuite’s commercial real estate analysis. Neighborhood occupancy is strong for the area and has remained in a healthy range in recent years; note this reflects the surrounding neighborhood, not the property.
Everyday convenience is supported by a concentration of essentials: grocery access sits in the top quartile nationally, and restaurants are also comparatively dense for the area. Conversely, parks, pharmacies, cafes, and childcare facilities are sparse within the immediate neighborhood footprint, which may place a premium on on-site amenities and walkable basics for retention.
Tenure dynamics suggest depth for multifamily: the neighborhood shows a higher share of renter-occupied housing units (54.2%), indicating a sizable tenant base and supporting demand stability. Median home values are elevated versus national norms, reinforcing reliance on rental housing and aiding pricing power, while rent-to-income levels in the area point to manageable affordability pressure from a leasing perspective.
Demographics aggregated within a 3-mile radius show modest population movement recently with a slight contraction, while household counts increased, implying smaller average household sizes. Forward-looking estimates point to growth in households through the mid-term, which would expand the local renter pool and support occupancy stability if realized.
The average construction year in the neighborhood is 1980. With a 1986 vintage, the asset is somewhat newer than nearby stock, offering relative competitiveness versus older buildings; investors should still account for modernization of aging systems or targeted value-add to capture rent premiums.
Safety indicators for the surrounding neighborhood compare favorably: crime ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale neighborhoods and sits above the national average for safety (higher percentile indicates safer conditions). This is a neighborhood-level view, not a property-specific guarantee.
Recent trend data also shows year-over-year declines in both violent and property offenses at the neighborhood level, which can support resident retention and leasing consistency if sustained. As with any urban submarket, investors should underwrite with standard risk management and monitor local trends over time.
Proximity to established corporate employers underpins commuter convenience and supports renter demand, including Chevron, Edison International, International Paper, Avery Dennison, and Reliance Steel & Aluminum.
- Chevron — energy (4.5 miles)
- Edison International — utility holding company (6.8 miles) — HQ
- International Paper — packaging (12.6 miles)
- Avery Dennison — materials & labeling (14.4 miles) — HQ
- Reliance Steel & Aluminum — metals distribution (15.1 miles) — HQ
340 W Duarte Rd is a 76-unit, 1986-vintage asset with larger average unit sizes that can support resident retention and family-oriented demand. Neighborhood-level data shows solid occupancy and a majority renter-occupied housing mix, while elevated ownership costs locally reinforce reliance on multifamily. According to CRE market data from WDSuite, projected household growth within a 3-mile radius points to a larger tenant base over the next several years, which may support steady leasing and rent performance.
Relative to nearby stock (average vintage 1980), the property’s mid-1980s construction can remain competitive with selective modernization of building systems and common areas to capture premiums. Investors should weigh the area’s strong grocery/restaurant access and employment proximity against limited parks, pharmacies, cafes, and childcare within the immediate neighborhood when planning amenities and marketing.
- Large average unit sizes support retention and broaden target renter profiles
- Neighborhood shows strong occupancy and a sizable renter-occupied housing base
- Elevated home values sustain multifamily demand and pricing power
- Mid-1980s vintage offers competitive positioning with targeted value-add potential
- Risk: sparse parks, pharmacies, cafes, and childcare locally—plan on-site amenities and resident services accordingly