| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 52nd | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 507 N Nicholson Ave, Monterey Park, CA, 91755, US |
| Region / Metro | Monterey Park |
| Year of Construction | 1974 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
507 N Nicholson Ave Monterey Park Multifamily Investment
This 20-unit property benefits from strong neighborhood-level rental demand, with 64.8% of housing units occupied by renters ranking in the top quartile nationally. CRE market data from WDSuite shows the area maintains 94.7% occupancy rates with rent growth outpacing national averages.
Located in an Urban Core neighborhood ranking 158th among 1,441 Los Angeles metro neighborhoods with an A rating, this Monterey Park location offers exceptional amenity access for tenant retention. The area features 7.81 grocery stores per square mile (top 2% nationally) and 49.07 restaurants per square mile (top 1% nationally), supporting strong walkability scores that appeal to renters.
Built in 1974, this property represents value-add renovation potential in a neighborhood where the average construction year is 1983. The vintage positions investors to capture upside through strategic capital improvements while benefiting from below-average construction costs compared to newer competing properties.
Demographic data aggregated within a 3-mile radius shows household income growth of 42.6% over five years, with median household income reaching $80,630. The area's 53.8% renter-occupied housing units create a substantial tenant base, while forecasted household growth of 32.3% through 2028 should expand the renter pool and support occupancy stability.
Neighborhood-level rent trends show median contract rents of $1,669 with 32.1% growth over five years, outpacing the broader metro. However, rent-to-income ratios rank in the bottom 3% nationally, requiring careful lease management and renewal strategies to maintain tenant retention in this affordability-sensitive market.
Property crime rates of 523 incidents per 100,000 residents rank 841st among 1,441 metro neighborhoods, placing the area near the median for Los Angeles metro safety metrics. More encouraging for investors, property crime has declined 27.3% year-over-year, ranking in the top 30% nationally for crime reduction trends.
Violent crime rates remain relatively low at 60 incidents per 100,000 residents, with an 11.4% year-over-year decrease. While crime metrics place the neighborhood in the middle range compared to other Los Angeles areas, the consistent downward trends in both property and violent crime support a stabilizing environment for tenant retention and property values.
The property benefits from proximity to major corporate employers, with Edison International headquarters just 2.4 miles away providing workforce housing opportunities for utility sector employees.
- Edison International — utility services (2.4 miles) — HQ
- Chevron — energy sector offices (5.2 miles)
- Reliance Steel & Aluminum — industrial materials (7.7 miles) — HQ
- Microsoft — technology offices (7.7 miles)
- CBRE Group — commercial real estate services (7.8 miles) — HQ
This 1974-vintage property offers value-add potential in a high-amenity Urban Core neighborhood with strong rental fundamentals. According to multifamily property research from WDSuite, the area's 94.7% occupancy rate exceeds many comparable Los Angeles submarkets, while the 64.8% renter-occupied housing share ranks in the top quartile nationally for rental demand depth.
Demographic projections show household growth of 32.3% through 2028 within the 3-mile radius, expanding the potential tenant base while median household income growth of 42.6% over five years demonstrates improving purchasing power. The property's vintage creates renovation upside opportunities, though investors should monitor rent-to-income ratios that currently pressure affordability and may impact lease renewals.
- Strong rental market fundamentals with 64.8% renter occupancy ranking top quartile nationally
- Value-add renovation potential from 1974 construction year in appreciating neighborhood
- Exceptional amenity density supporting tenant retention and lease-up velocity
- Projected household growth of 32.3% through 2028 expanding renter pool
- Risk consideration: rent-to-income ratios in bottom 3% nationally require careful lease management