| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 59th | Good |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 869 W Walnut Ave, Monrovia, CA, 91016, US |
| Region / Metro | Monrovia |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 1995-02-21 |
| Transaction Price | $991,000 |
| Buyer | ARAKAKI CRAIG |
| Seller | GLENDALE FEDERAL BANK FSB |
869 W Walnut Ave Monrovia Multifamily Investment
Renter demand is supported by an amenity-rich Urban Core setting and neighborhood occupancy that sits above national medians, according to WDSuite’s CRE market data. Neighborhood statistics cited refer to the surrounding area, not this specific property.
Monrovia’s Urban Core location offers strong day-to-day convenience. The neighborhood scores in the mid-90s by national percentile for groceries, parks, pharmacies, and restaurants, indicating dense retail and services that can support resident retention and leasing velocity. Average school ratings are above the national median, adding to family appeal without positioning schools as the sole demand driver.
Within the Los Angeles-Long Beach-Glendale metro, the neighborhood is competitive among 1,441 metro neighborhoods, with amenity access and housing metrics that compare favorably to the region. Neighborhood occupancy trends are above national medians (neighborhood-level occupancy, not property-specific), supporting baseline stability for well-operated assets.
Tenure patterns signal solid multifamily depth: approximately two-thirds of neighborhood housing units are renter-occupied. For investors, that renter concentration points to a sizable tenant base and supports ongoing leasing, particularly for professionally managed communities that differentiate on operations and upkeep.
Demographic statistics are aggregated within a 3-mile radius. While population has been relatively steady in recent periods, the number of households has increased and is projected to rise further over the next five years alongside a gradual decrease in average household size. This combination typically expands the renter pool and supports occupancy, especially for well-located, mid-size buildings.
Ownership remains a high-cost proposition locally. Home values rank in the mid-90s by national percentile and the value-to-income ratio is also elevated nationally. In this context, multifamily housing often benefits from sustained reliance on rentals, which can support pricing power when paired with measured rent-to-income levels. Neighborhood rent-to-income sits around one-quarter, indicating manageable affordability pressure today from an investor perspective, though rent growth should be balanced with retention goals.
Safety conditions are comparatively favorable versus many neighborhoods nationwide. Violent-offense measures sit in the top quartile nationally, and property-offense measures are better than national averages. Recent data show a short-term uptick in property offenses locally; prudent underwriting may include lighting, access control, and coordination with local resources. Conditions vary by block and over time; investors should rely on current, property-specific due diligence in addition to neighborhood-level trends.
The area draws from a diverse employment base that supports renter demand and commute convenience, led by energy, utilities, packaging and materials, and industrial distribution. Notable nearby employers include Chevron, Edison International, International Paper, Avery Dennison, and Reliance Steel & Aluminum.
- Chevron — energy (5.1 miles)
- Edison International — utility holding company (7.1 miles) — HQ
- International Paper — packaging (13.2 miles)
- Avery Dennison — materials & labeling (13.7 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (14.8 miles) — HQ
Built in 1978, this 20-unit asset is newer than the neighborhood’s average vintage, offering relative competitiveness against older stock while still presenting potential value-add opportunities through targeted modernization of interiors and building systems. The surrounding neighborhood shows above-median occupancy and strong amenity access, which, according to CRE market data from WDSuite, tends to support lease-up and retention for well-managed multifamily properties.
Investor fundamentals are reinforced by a sizable renter base (about two-thirds of local housing units are renter-occupied), a high-cost ownership landscape that sustains rental reliance, and 3-mile household growth projections alongside smaller household sizes—factors that generally expand the renter pool. Affordability remains manageable from an underwriting perspective given neighborhood rent-to-income around one-quarter, but rising rents should be balanced with retention and renewal strategies. Recent property-offense upticks suggest incorporating routine safety enhancements and resident communication into operating plans.
- Newer-than-area vintage (1978) with value-add modernization potential
- Amenity-rich Urban Core and above-median neighborhood occupancy support leasing
- High-cost ownership market sustains renter reliance and pricing power
- 3-mile trends point to household growth and a larger renter pool
- Risk: recent property-offense uptick warrants security-focused operating practices