| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 67th | Good |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 252 E Orange Grove Blvd, Pasadena, CA, 91104, US |
| Region / Metro | Pasadena |
| Year of Construction | 2006 |
| Units | 38 |
| Transaction Date | 2002-12-18 |
| Transaction Price | $1,600,000 |
| Buyer | LOS ANGELES COMMUNITY DESIGN CENTER |
| Seller | MATSUOKA EMI |
252 E Orange Grove Blvd Pasadena 38-Unit Opportunity
High renter concentration in the surrounding neighborhood and a high-cost ownership market point to durable multifamily demand, according to WDSuite’s CRE market data.
Located in Pasadena’s Urban Core, the property benefits from neighborhood fundamentals that are competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 355 out of 1,441). Multifamily occupancy in the area has held in the low-90s, supporting income stability through cycles rather than sharp swings.
Livability leans practical for renters: grocery and pharmacy access rank in the high national percentiles, while immediate park and cafe density is more limited. Elevated home values relative to national benchmarks define a high-cost ownership market, which generally sustains renter reliance on multifamily housing and can bolster lease retention for well-managed assets.
Renter-occupied housing comprises a very high share of neighborhood units (near 80%), indicating a deep tenant base for a 38-unit asset and steady leasing velocity for typical floor plans. Within a 3-mile radius, WDSuite data shows households edging higher and average household size trending smaller, which expands the renter pool and supports occupancy stability.
Built in 2006, the asset is newer than the neighborhood’s average vintage. That positioning can enhance competitive appeal versus older stock, though investors should still plan for selective system updates and common-area refreshes over the hold to maintain pricing power.
Safety trends are mixed and should be underwritten thoughtfully. Compared with national norms, the neighborhood sits below the median for overall safety, with property crime notably elevated; however, WDSuite data indicates year-over-year declines in both property and violent offenses, suggesting recent improvement rather than deterioration.
Within the Los Angeles-Long Beach-Glendale metro, the neighborhood’s crime ranking (977 out of 1,441) places it below the metro median. Investors commonly address this profile with practical measures (lighting, access control, and onsite presence) that support resident retention and protect operating performance.
The location is proximate to a diversified employment base, including Avery Dennison, Edison International, Chevron, Microsoft, and Reliance Steel & Aluminum. These nearby employers support renter demand through commute convenience and broad professional job density.
- Avery Dennison — materials & labeling (6.4 miles) — HQ
- Edison International — utilities (8.1 miles) — HQ
- Chevron — energy offices (9.0 miles)
- Microsoft — technology offices (9.5 miles)
- Reliance Steel & Aluminum — metals distribution (9.5 miles) — HQ
The investment case centers on durable renter demand and relative product differentiation. The neighborhood posts competitive rankings within the Los Angeles-Long Beach-Glendale metro, with occupancy holding in the low-90s and renter-occupied housing comprising a large share of units—both supportive of steady leasing. Elevated home values signal a high-cost ownership market, which can sustain rental demand and reinforce lease retention for well-managed assets. Based on CRE market data from WDSuite, nearby amenities and employer access further underpin renter appeal.
Constructed in 2006, the property is newer than much of the area’s housing stock, creating a competitive edge versus older assets while still allowing room for targeted value-add through modernization of interiors and common areas over time. Within a 3-mile radius, households are increasing and average household size is contracting, pointing to a larger tenant base and supportive demand for multifamily units.
- High renter concentration and stable neighborhood occupancy support income consistency
- 2006 vintage offers competitive positioning with selective value-add potential
- Strong access to major employers and essential retail enhances leasing velocity
- High-cost ownership market reinforces rental demand and lease retention
- Risk: Below-median safety profile requires continued operational focus on security and resident experience