| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 40th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 234 N Rural Dr, Monterey Park, CA, 91755, US |
| Region / Metro | Monterey Park |
| Year of Construction | 1981 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
234 N Rural Dr Monterey Park Multifamily Investment
This 120-unit property benefits from stable neighborhood-level occupancy at 94.3% and proximity to major employment centers including Edison International headquarters. The area's 58.7% rental share supports consistent tenant demand in the Los Angeles metro, according to WDSuite's CRE market data.
Located in an urban core neighborhood ranking in the top quartile among 1,441 Los Angeles metro neighborhoods, this Monterey Park location offers strong fundamentals for multifamily investors. The area maintains neighborhood-level occupancy of 94.3% with a substantial 58.7% rental share, indicating robust tenant demand that supports lease-up velocity and renewal rates.
Built in 1981, the property's vintage is newer than the neighborhood average construction year of 1968, positioning it competitively within the local housing stock while minimizing near-term capital expenditure needs. Demographics within a 3-mile radius show a stable household base of approximately 71,400 households, with projections indicating household growth of 32.2% through 2028, expanding the potential renter pool and supporting occupancy stability.
The neighborhood demonstrates strong amenity density with 4.92 grocery stores per square mile and 19.67 restaurants per square mile, both ranking in the 95th and 96th percentiles nationally respectively. Median home values of $653,922 create a significant ownership cost barrier that can keep households in the rental market longer, supporting tenant retention. Schools average 3.5 out of 5 stars, ranking above the metro median and appealing to family renters.
Current neighborhood-level median rents of $1,689 have grown 33% over five years, while projected rent growth of 28.8% through 2028 suggests continued pricing power. The area's housing fundamentals rank in the 77th percentile nationally, reflecting the combination of occupancy stability, rental demand, and amenity access that supports multifamily performance.
Safety metrics for this neighborhood present a mixed profile that requires careful consideration in investment analysis. The area ranks 1,162nd out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the lower half of local submarkets. Property crime rates of 577 incidents per 100,000 residents rank in the 34th percentile nationally, while violent crime rates show 131 incidents per 100,000 residents, ranking in the 27th percentile compared to neighborhoods nationwide.
Recent trends show property crime declining by 8.7% year-over-year, which represents a positive direction for the submarket. However, violent crime increased 70.2% over the same period, ranking in the 22nd percentile nationally for this metric. Investors should monitor these trends closely and consider their impact on tenant retention, insurance costs, and overall property positioning within the competitive set.
The property benefits from proximity to major corporate employers that provide stable workforce housing demand in the greater Los Angeles area. Edison International's headquarters anchors the local employment base alongside established offices from energy, technology, and industrial companies.
- Edison International — utilities (2.1 miles) — HQ
- Chevron — energy (4.9 miles)
- International Paper — manufacturing (7.8 miles)
- Reliance Steel & Aluminum — metals & materials (8.0 miles) — HQ
- Microsoft — technology (8.0 miles)
This 120-unit Monterey Park property presents a compelling value-add opportunity in a stable rental market with strong occupancy fundamentals. The neighborhood maintains 94.3% occupancy with a 58.7% rental share, indicating consistent tenant demand that supports cash flow stability. Built in 1981, the property's vintage positions it favorably against the area's older housing stock while offering potential renovation upside to capture growing rents.
Demographics within a 3-mile radius project 32.2% household growth through 2028, creating an expanding renter pool that should support absorption and renewals. According to multifamily property research from WDSuite, median rents have grown 33% over five years with projections of 28.8% additional growth, while high home values of $653,922 create ownership barriers that keep households in the rental market. The area's top-quartile ranking among Los Angeles metro neighborhoods and strong amenity density provide competitive advantages for tenant attraction and retention.
- Stable 94.3% neighborhood occupancy with 58.7% rental share supporting tenant demand
- 1981 construction offers renovation upside potential in older neighborhood housing stock
- Projected 32.2% household growth through 2028 expanding the renter pool
- High home values create ownership barriers supporting rental demand
- Risk: Mixed safety profile with recent violent crime increases requiring monitoring