| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 70th | Good |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 176 N Wilson Ave, Pasadena, CA, 91106, US |
| Region / Metro | Pasadena |
| Year of Construction | 2005 |
| Units | 23 |
| Transaction Date | 2019-06-25 |
| Transaction Price | $8,750,000 |
| Buyer | CABRALOFF ALBERT S |
| Seller | EL MOLINO AND EAST WALNUT LLC |
176 N Wilson Ave Pasadena 23-Unit Multifamily
Renter demand is supported by strong neighborhood amenities and a high share of renter-occupied housing units, according to WDSuite’s CRE market data. Neighborhood metrics such as occupancy and rent levels refer to the area surrounding the property, not the asset itself.
The property sits in an Urban Core pocket of Pasadena that ranks 57 out of 1,441 Los Angeles metro neighborhoods (A+ rating), indicating competitive fundamentals at the neighborhood level. Amenity access is a clear strength, with restaurants, groceries, pharmacies, and cafes placing in the upper national percentiles, which supports daily convenience and leasing appeal for multifamily assets.
At the neighborhood level, median asking rents trend in the upper national range (about the 94th percentile), while occupancy is closer to the national middle (around the 41st percentile), per commercial real estate analysis from WDSuite. The local housing stock skews renter-heavy: approximately 73.5% of housing units are renter-occupied (98th percentile nationally), signaling depth in the tenant base and potential resilience for stabilized operations.
Construction trends matter for positioning: the property’s 2005 vintage is newer than the neighborhood average year built (1986). That generally enhances competitive standing versus older stock while still warranting selective capital planning for mid-life systems and modernization to meet current renter expectations.
Within a 3-mile radius, demographics indicate stable to modestly shifting demand drivers: households were roughly flat over the past five years and are projected to increase meaningfully, with smaller average household sizes. Combined with elevated ownership costs in the neighborhood (home values near the 93rd percentile nationally), this backdrop reinforces reliance on rental housing and can support pricing power, though lease management should consider rent-to-income pressure in parts of the tenant base.
Schools in the immediate area score below national midpoints on average, which may matter for family-oriented leasing strategies. However, the broader amenity density and employment access remain favorable contributors to renter appeal at the neighborhood scale.
Safety indicators in the surrounding neighborhood track below national and metro averages. The area sits in the lower national percentiles for overall crime and ranks 1,238 out of 1,441 Los Angeles metro neighborhoods, indicating comparatively higher reported incidents than many peer neighborhoods in the region.
Recent trend signals are mixed: violent offense rates show a modest year-over-year improvement, while property-related incidents remain elevated with a recent uptick. Investors should underwrite prudent security measures and tenant experience initiatives while monitoring neighborhood trends over time rather than block-level assumptions.
Nearby corporate anchors provide a diversified white-collar employment base that supports multifamily renter demand and commute convenience, including Edison International, Avery Dennison, Chevron, Microsoft, Reliance Steel & Aluminum, CBRE Group, and Disney.
- Edison International — utilities (7.1 miles) — HQ
- Avery Dennison — manufacturing & materials (7.4 miles) — HQ
- Chevron — energy offices (7.9 miles)
- Microsoft — technology offices (9.8 miles)
- Reliance Steel & Aluminum — metals & distribution (9.8 miles) — HQ
- CBRE Group — real estate services (9.9 miles) — HQ
- Disney — entertainment (11.3 miles) — HQ
176 N Wilson Ave is a 23-unit, 2005-vintage asset positioned in a renter-centric Pasadena neighborhood with strong amenity density. At the neighborhood scale, rents are in the higher national range while occupancy trends closer to mid-range, suggesting room for targeted value creation via operations and selective unit upgrades. Elevated ownership costs in the area tend to sustain reliance on multifamily rentals, and a projected increase in households within a 3-mile radius points to a larger tenant base over time. According to CRE market data from WDSuite, neighborhood-level NOI per unit ranks among the strongest nationally, underscoring the area’s capacity to support durable income when well-executed.
The 2005 construction provides relative competitive positioning versus older stock, though investors should budget for mid-life building systems and modernization to meet contemporary renter expectations. Risks to underwrite include below-average neighborhood safety readings and rent-to-income pressures for some cohorts, requiring thoughtful leasing and renewal strategies.
- Renter-heavy neighborhood and strong amenities support demand and retention
- 2005 vintage offers competitive positioning with value-add and modernization upside
- Neighborhood rents high nationally; occupancy near mid-range allows operational lift
- Elevated ownership costs reinforce reliance on multifamily housing
- Key risks: below-average neighborhood safety and rent-to-income pressures