| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 52nd | Fair |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 N Nicholson Ave, Monterey Park, CA, 91755, US |
| Region / Metro | Monterey Park |
| Year of Construction | 1974 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | $100,000 |
| Buyer | KAN JULIA TAM |
| Seller | KAN INVESTMENT LTD LLC |
611 N Nicholson Ave Monterey Park Multifamily Investment
Neighborhood occupancy in the mid-90s and a high share of renter-occupied units point to durable leasing fundamentals, according to WDSuite’s CRE market data, with elevated ownership costs nearby reinforcing reliance on multifamily housing.
Monterey Park’s Urban Core setting offers investors strong everyday convenience: grocery, pharmacy, dining, and cafés cluster at densities that rank in the top percentiles nationally, supporting resident retention and day-to-day livability. Public schools in the surrounding area are a standout, with the neighborhood’s average school rating positioned in the top percentile nationwide, a factor that can enhance family-oriented rental demand.
For rental dynamics, the neighborhood’s occupancy is 94.7% with a modest upward trend over five years, and about 64.8% of housing units are renter-occupied. For investors, that renter concentration signals a deep tenant base and generally supports absorption and renewal activity relative to more ownership-heavy pockets of the metro.
Within a 3-mile radius, household counts have edged higher in recent years and are projected to continue increasing even as average household size trends lower. This pattern expands the prospective renter pool and can support occupancy stability over time. Median and mean household incomes have also advanced, broadening the base for market-rate product, while the neighborhood’s elevated home values (top national percentiles) suggest a high-cost ownership market that tends to sustain multifamily demand rather than compete with it.
The property’s 1974 vintage is older than the area’s average construction year (1983), which points to potential capital planning needs but also value-add or modernization upside relative to newer competing stock.
Safety indicators are mixed but improving. Overall crime levels sit around the metro middle among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, and the neighborhood trends show year-over-year declines in both violent and property offenses. Nationally, the area reads near the midpoint for overall safety, with recent improvement suggesting some momentum rather than deterioration.
For investors, the takeaway is to underwrite with standard urban-core assumptions while recognizing the downward trend in reported incident rates over the past year.
Proximity to major corporate offices underpins commuter convenience and supports a steady renter pipeline, notably from Edison International, Chevron, Reliance Steel & Aluminum, Microsoft, and CBRE Group.
- Edison International — corporate offices (2.5 miles) — HQ
- Chevron — corporate offices (5.2 miles)
- Reliance Steel & Aluminum — corporate offices (7.7 miles) — HQ
- Microsoft — corporate offices (7.7 miles)
- CBRE Group — corporate offices (7.8 miles) — HQ
611 N Nicholson Ave offers a defensible rental position in an Urban Core neighborhood characterized by high renter concentration, broad amenity access, and strong school ratings. Elevated home values at the neighborhood level support renter reliance on multifamily housing, while occupancy has remained firm with a modest positive trend. The 1974 vintage suggests targeted renovations or system upgrades could unlock value relative to newer deliveries, with underwriting that prioritizes capital planning and operational efficiency.
Based on commercial real estate analysis validated by WDSuite’s CRE market data, the nearby employment base and commuter access should continue to support demand, and 3-mile household growth alongside smaller household sizes indicates a larger tenant base over time. Investors should balance these strengths against affordability pressure (higher rent-to-income levels locally) and typical capex for older assets.
- Stable neighborhood occupancy and high renter concentration support leasing durability.
- Amenity-rich location and top-tier local school ratings reinforce retention.
- 1974 vintage presents value-add potential through targeted renovations and modernization.
- High-cost ownership environment sustains multifamily demand relative to for-sale options.
- Risks: affordability pressure (rent-to-income) and anticipated capex needs for an older asset.