| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 77th | Best |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1555 Riviera Dr, Pasadena, CA, 91107, US |
| Region / Metro | Pasadena |
| Year of Construction | 1991 |
| Units | 109 |
| Transaction Date | 2007-11-01 |
| Transaction Price | $28,500,000 |
| Buyer | Legacy Partners |
| Seller | Clancy, Hall |
1555 Riviera Dr, Pasadena CA Multifamily Investment
Neighborhood occupancy near 96% supports stable renter demand and retention potential, according to WDSuite’s CRE market data. High-cost homeownership in Pasadena further underpins leasing depth for well-positioned assets.
Located in an inner-suburb pocket of Pasadena, the area presents strong income fundamentals and limited new supply pressures. Median home values in the neighborhood are elevated relative to national norms, which tends to sustain reliance on rental housing and can support pricing power for competitive multifamily assets. Neighborhood occupancy is in the mid-90s, indicating steady absorption and lease-up prospects for comparable properties, based on CRE market data from WDSuite.
Parks access rates in this neighborhood sit in the top quartile nationally, while everyday retail like groceries, pharmacies, and cafes is comparatively sparse, signaling a quieter residential setting rather than a retail-anchored corridor. Among 1,441 Los Angeles metro neighborhoods, overall amenity density ranks lower (closer to the bottom half), so residents may rely on nearby corridors for dining and errands. For investors, this suggests resident profiles oriented to neighborhood livability and green space rather than walkable retail.
Within a 3-mile radius, the renter-occupied share is roughly one-third of housing units, offering a meaningful tenant base while still competing with homeownership options. Household counts have inched higher while average household size is trending smaller, which can translate to a larger pool of renters over time and support occupancy stability. Looking ahead, forecasts indicate further shifts toward more households despite modest population contraction, a pattern that typically supports demand for professionally managed apartments.
Relative to the metro, neighborhood demographics score above the median (77th percentile nationally), and average school ratings are modestly above the national midpoint. The neighborhood’s average NOI per unit is competitive (upper deciles nationally), reinforcing that well-operated assets in this area can deliver durable performance when positioned on amenities, management, and finish levels. Use this as directional context for underwriting, not as a proxy for any single property’s performance.
Safety indicators are mixed compared with national benchmarks. Overall crime performance is near the national midpoint, with violent offense rates around the middle of U.S. neighborhoods and showing a favorable year-over-year improvement trend. Property offense levels sit closer to the lower half nationally, so prudent security measures and resident engagement can help mitigate onsite risk.
Within the Los Angeles-Long Beach-Glendale metro, this neighborhood’s crime ranking falls in the lower-performing half among 1,441 neighborhoods, indicating room for continued improvement relative to peers. Investors should monitor local trendlines and maintain standard risk controls; block-level conditions can vary, and neighborhood-wide measures do not represent conditions at any specific property.
Proximity to major corporate offices supports a broad, commuter-friendly renter base, with strong representation from energy, utilities, manufacturing, and technology. This employment mix can reinforce leasing stability for workforce and professional tenants.
- Chevron — energy (7.6 miles)
- Edison International — utilities (8.2 miles) — HQ
- Avery Dennison — manufacturing/packaging (10.5 miles) — HQ
- Microsoft — technology (13.2 miles)
- Reliance Steel & Aluminum — metals manufacturing (13.2 miles) — HQ
1555 Riviera Dr comprises 109 units delivered in 1991, a newer vintage than the neighborhood’s 1970s average. That positioning typically offers competitive appeal versus older stock while still leaving room for targeted system updates or renovations that can enhance retention and rent trade-outs. Neighborhood fundamentals — high home values, solid incomes, and mid-90s occupancy — indicate resilient renter demand and support for stabilized operations, according to CRE market data from WDSuite.
Within a 3-mile radius, household counts are edging higher even as average household size declines, pointing to more households entering the market and a deeper tenant base over time. Renter-occupied units account for roughly one-third of housing, and rent-to-income levels near the neighborhood median suggest manageable affordability pressure that can aid lease renewal rates. Amenity density skews toward parks rather than retail, favoring residents who value quiet residential settings and commute access to regional employers.
- 1991 vintage offers competitive positioning versus older local stock, with selective value-add potential
- High-cost ownership market reinforces rental reliance and supports pricing power for well-managed assets
- Neighborhood occupancy in the mid-90s supports leasing stability and retention
- Diverse nearby employment nodes (energy, utilities, tech, manufacturing) underpin a broad renter base
- Risks: softer retail amenity density and mixed property-crime trends warrant ongoing operations and security focus