| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 59th | Good |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 716 W Olive Ave, Monrovia, CA, 91016, US |
| Region / Metro | Monrovia |
| Year of Construction | 1995 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
716 W Olive Ave Monrovia Multifamily Investment
This 20-unit property benefits from a neighborhood-level occupancy rate of 95.8% and ranks in the top quartile nationally for amenity access. The area maintains a 66% rental tenure share, supporting consistent multifamily demand according to CRE market data from WDSuite.
Located in Monrovia's urban core, this neighborhood ranks 131st among 1,441 metro neighborhoods with an A rating. The area demonstrates strong fundamentals with 95.8% occupancy rates and median rents of $1,812, reflecting healthy rental demand. Demographics within a 3-mile radius show 42.7% of housing units are renter-occupied, providing a substantial tenant base for multifamily properties.
The 1995 construction year aligns with the neighborhood's average vintage of 1967, positioning the property competitively within the local stock without immediate capital expenditure concerns. Amenity density ranks in the 94th percentile nationally, with 5.13 grocery stores per square mile and robust restaurant and childcare access supporting tenant retention.
Demographic projections within the 3-mile radius indicate household growth of 34.8% through 2028, expanding from 35,685 to 48,107 households. This growth, combined with median household income increases from $109,077 to $147,991, suggests strengthening renter demand and potential for measured rent growth while maintaining occupancy stability.
Home values averaging $777,172 with 50.5% five-year appreciation reinforce rental demand, as elevated ownership costs keep households in the multifamily market. The rent-to-income ratio of 0.25 indicates manageable affordability levels for tenant retention, though operators should monitor renewal dynamics as income growth outpaces rent increases.
The neighborhood demonstrates favorable safety metrics compared to regional and national benchmarks. Violent crime rates rank 17th among 1,441 metro neighborhoods, placing the area in the top quartile for personal safety. The violent crime rate of 2.7 incidents per 100,000 residents represents a 63.6% year-over-year decline, indicating improving conditions.
Property crime rates show mixed trends, with current levels ranking 107th among metro neighborhoods but experiencing a 106.2% increase over the past year. While this uptick warrants monitoring, the overall crime ranking of 538th among metro neighborhoods places the area above the regional median, maintaining competitive positioning for tenant attraction and retention.
The surrounding area benefits from proximity to major corporate offices that support workforce housing demand, including energy, technology, and industrial headquarters within commuting distance.
- Chevron — energy operations (5.2 miles)
- Edison International — utility services (7.3 miles) — HQ
- International Paper — industrial manufacturing (13.4 miles)
- Avery Dennison — materials technology (13.9 miles) — HQ
- Microsoft — technology services (15.1 miles)
This 20-unit property built in 1995 offers stable cash flow fundamentals supported by neighborhood-level occupancy of 95.8% and a substantial 66% rental tenure share. The urban core location benefits from exceptional amenity density ranking in the 94th percentile nationally, supporting tenant retention and lease renewal rates. Household growth projections of 34.8% through 2028 within the 3-mile radius, combined with median income increases to $147,991, indicate expanding renter demand and measured rent growth potential.
Home values averaging $777,172 with significant appreciation reinforce rental market dynamics, as elevated ownership costs maintain multifamily demand. According to multifamily property research from WDSuite, the neighborhood's A rating and top-quartile safety metrics position the asset competitively for institutional-quality tenant attraction. The 1995 vintage requires standard maintenance planning but avoids immediate major capital expenditures common in older stock.
- Neighborhood occupancy of 95.8% demonstrates rental demand stability
- 34.8% projected household growth through 2028 expands tenant base
- 94th percentile amenity density supports tenant retention
- Elevated home values reinforce rental market positioning
- Property crime increases require monitoring for security investments