| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 78th | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33 S Wilson Ave, Pasadena, CA, 91106, US |
| Region / Metro | Pasadena |
| Year of Construction | 2005 |
| Units | 45 |
| Transaction Date | 1999-06-10 |
| Transaction Price | $880,000 |
| Buyer | SOUTH WILSON INVESTMENT GROUP |
| Seller | EAST PASADENA PROPERTY LLC |
33 S Wilson Ave Pasadena Multifamily Investment
High renter concentration in an amenity-rich Pasadena urban core supports durable leasing fundamentals, according to WDSuite’s CRE market data.
Situated in Pasadena’s Urban Core, the property benefits from a neighborhood that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 51 out of 1,441). Dense retail, dining, and daily-needs access stand out, with restaurants, parks, cafes, and pharmacies all performing in very high national percentiles—helping sustain foot traffic and renter convenience.
The 2005 construction is newer than the neighborhood’s average vintage (1974 across the area), which can provide relative competitiveness versus older stock and may moderate near-term capital needs; investors should still plan for system modernization as the asset ages. Median home values are elevated for the area, which signals a high-cost ownership market that tends to reinforce reliance on multifamily housing and support lease retention.
At the neighborhood level, renter-occupied housing is prevalent (63.7% share; 95th percentile nationally), indicating a deep tenant base for multifamily. Neighborhood occupancy is measured at 85.1% (28th percentile nationally); while softer relative to national norms, the strong renter concentration and amenity density can help support leasing velocity with asset-specific execution.
Within a 3-mile radius, demographics point to an upper-income renter pool and stable demand drivers. Over the past five years, population was roughly steady while household counts inched up, and forward-looking estimates indicate households are projected to increase—expanding the local renter pool. Combined with a neighborhood rent-to-income ratio around 0.22, these dynamics suggest manageable affordability pressure and potential for consistent absorption, based on CRE market data from WDSuite.
Safety metrics should be interpreted in context. This neighborhood ranks nearer the higher-crime end among 1,441 Los Angeles-Long Beach-Glendale neighborhoods (crime rank 1,237 of 1,441), and national comparisons indicate below-average safety levels (violent offenses around the 23rd percentile and property offenses near the 5th percentile nationwide).
Recent trend signals are mixed: estimated violent offense rates improved year over year, while property-related incidents ticked up. For investors, prudent assumptions for security, lighting, access control, and resident engagement can help mitigate risk and support retention. All figures reflect neighborhood-level conditions rather than property-specific records.
Proximity to major corporate offices supports commuter convenience and a diversified white-collar renter base, with utilities, materials, energy, technology, and real estate services represented nearby.
- Edison International — utilities (6.9 miles) — HQ
- Avery Dennison — materials & manufacturing (7.4 miles) — HQ
- Chevron — energy (7.8 miles)
- Microsoft — technology (9.6 miles)
- CBRE Group — real estate services (9.7 miles) — HQ
This 45-unit, 2005-vintage asset leverages Pasadena’s Urban Core fundamentals: high renter concentration, amenity density, and access to diversified employment nodes. Newer construction relative to the neighborhood average positions the property competitively versus older stock, while elevated ownership costs in the area tend to sustain renter reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is high, supporting a broad tenant base even as neighborhood occupancy trends have been softer than national norms.
Over a 3-mile radius, upper-income profiles, modest historical household growth, and projections for additional household increases indicate a larger renter pool over time. For investors, the thesis centers on maintaining occupancy through targeted renovations and professional management, capturing pricing power supported by income levels, and leveraging proximity to major employers—while underwriting security and marketing strategies to navigate neighborhood-level safety and occupancy headwinds.
- 2005 vintage offers relative competitiveness versus older submarket stock with potential light value-add
- High renter concentration and amenity density support leasing velocity and retention
- Elevated ownership costs reinforce multifamily demand and pricing power potential
- Access to diversified employers underpins a stable white-collar tenant base
- Risks: softer neighborhood occupancy and below-average safety metrics warrant conservative underwriting and active asset management