| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 42nd | Fair |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1888 N Fair Oaks Ave, Pasadena, CA, 91103, US |
| Region / Metro | Pasadena |
| Year of Construction | 2004 |
| Units | 69 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1888 N Fair Oaks Ave, Pasadena Multifamily Investment
2004 construction and 69 units position this asset as a competitive, mid-scale option where neighborhood occupancy has held in the low 90s, according to WDSuite s CRE market data. Newer vintage relative to local stock supports leasing durability with prudent capital planning.
Located in Pasadena s Urban Core, the property sits in a subarea where neighborhood occupancy is reported at 93%+; this figure reflects the broader neighborhood, not the property. Renter-occupied housing accounts for an estimated 44% of units in the immediate neighborhood, indicating a meaningful tenant base, while the 3-mile radius shows a larger renter share and rising household counts that can support leasing.
The asset s 2004 vintage is materially newer than the neighborhood s average construction year (1951), which can help competitive positioning versus older stock and moderate near-term systems work; investors should still budget for modernization as the building approaches two decades of service.
Local livability signals are mixed. Restaurant density ranks competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 700 of 1,441; 88th percentile nationally), while counts for parks, pharmacies, and cafes are limited (ranks near the bottom of the metro). Average school ratings in the neighborhood sit on the lower end (rank 796 of 1,441; 15th percentile nationally), which may affect family-driven demand segments. These metrics describe the neighborhood, not the property.
Ownership costs are elevated (median home values rank 490 of 1,441; 96th percentile nationally), which tends to sustain renter reliance on multifamily housing and support lease retention. At the same time, a rent-to-income ratio near one-third suggests affordability pressure to monitor for pricing and renewal strategy. Based on multifamily property research from WDSuite, demographic statistics aggregated within a 3-mile radius show modest population contraction but a net increase in households, implying smaller household sizes and a steady renter pool.
Safety indicators are mixed relative to peers. The neighborhood s overall crime rank is 851 of 1,441 within the Los Angeles-Long Beach-Glendale metro, placing it around the metro median and near the middle nationally (49th percentile). Property and violent offense rates trend below national percentiles (around the lower third), but recent year-over-year declines in both categories indicate improving momentum. These data reflect neighborhood conditions, not the property.
Nearby corporate offices provide a diversified employment base that supports commuter demand and resident retention, including packaging, utilities, entertainment, energy, and software employers listed below.
- Avery Dennison corporate offices/packaging (6.3 miles) HQ
- Edison International utility holding company (9.5 miles) HQ
- Disney entertainment HQ (10.1 miles) HQ
- Chevron energy corporate offices (10.3 miles)
- Microsoft software corporate offices (10.5 miles)
This 69-unit property, built in 2004, offers a newer-vintage alternative to an area dominated by mid-century stock, which can reduce near-term capital intensity while allowing targeted renovations to lift positioning. Neighborhood occupancy has remained in the low 90s with a slight multi-year uptick, and elevated ownership costs nearby reinforce reliance on rental housing and support lease retention. Within a 3-mile radius, households have increased despite modest population contraction, suggesting smaller household sizes and a stable renter pool that supports occupancy.
According to commercial real estate analysis from WDSuite, local amenity access is strongest for dining while parks and pharmacies are thinner, pointing to a more urban, services-light block that nonetheless benefits from proximity to major employment hubs. Investors should manage affordability exposure given a rent-to-income ratio near one-third, and monitor safety metrics that sit around the metro median but have improved year over year.
- 2004 construction offers competitive positioning versus older neighborhood stock with manageable modernization scope
- Neighborhood occupancy in the low 90s and rising household counts within 3 miles support leasing stability
- Elevated ownership costs sustain renter demand and can aid retention and pricing power
- Proximity to diversified corporate employers underpins workforce-driven demand
- Risks: affordability pressure near one-third rent-to-income and safety metrics around metro median