| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 82nd | Best |
| Amenities | 85th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 340 E California Blvd, Pasadena, CA, 91106, US |
| Region / Metro | Pasadena |
| Year of Construction | 1973 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
340 E California Blvd, Pasadena CA Multifamily Investment
In a high-cost ownership pocket of Pasadena, neighborhood-level renter demand is supported by strong incomes and elevated home values according to WDSuite s CRE market data, while occupancy trends reflect stable but competitive leasing conditions at the neighborhood level 4not the property.
Pasadena 6s Inner Suburb setting combines convenience with strong neighborhood fundamentals. Amenity access sits in the top quartile nationally, with restaurants, pharmacies, parks, and daily-needs retail comparatively dense for this part of Los Angeles County (restaurant and amenity measures are neighborhood metrics, not property-specific), supporting resident retention and livability for multifamily assets.
Home values in the neighborhood rank near the top nationwide, and the value-to-income ratio is also high. In practice, this high-cost ownership market tends to sustain reliance on rental housing, which can support pricing power and lease retention for well-positioned assets. At the same time, neighborhood median contract rents are elevated, but incomes test well, helping manage rent-to-income levels in investor terms. These figures reflect neighborhood conditions, not individual property performance.
Within a 3-mile radius, demographics show a large, income-diverse tenant base with a high share of renter-occupied units (about three in five housing units are renter-occupied), indicating depth for multifamily leasing. Over the last five years, population edged lower while household counts ticked up and average household size declined; forward-looking data point to an increase in households and further downsizing, which typically expands the renter pool and supports occupancy stability for quality buildings.
The property 6s 1973 vintage is older than the neighborhood 6s average construction year, suggesting prudent capital planning and selective value-add may enhance competitiveness versus newer stock. Schools in the area rate mid-range for the metro, adequate for many renters but not a primary demand driver. Overall, the neighborhood ranks above the metro median on several amenity and income measures, offering a balanced backdrop for cash flow and renovation plays.
Safety indicators for the neighborhood sit below the national median overall, based on comparative percentiles, with property crime measuring weaker than violent crime when viewed against nationwide benchmarks. These are neighborhood-level readings, not block- or property-specific.
Recent trend data show improvement violent incident rates declined meaningfully year over year and estimated property offense rates also moved lower. For multifamily investors, this mix argues for standard security measures and resident communication while noting improving momentum. As always in Los Angeles-Long Beach-Glendale, conditions can vary within short distances, so underwriting should consider micro-location and on-site operations.
Nearby corporate nodes provide a diverse white-collar employment base that supports renter demand and commute convenience, led by Avery Dennison, Edison International, Chevron, Microsoft, and Reliance Steel & Aluminum.
- Avery Dennison packaging & materials (6.7 miles) HQ
- Edison International utilities holding company (6.7 miles) HQ
- Chevron energy offices (8.0 miles)
- Microsoft technology offices (8.5 miles)
- Reliance Steel & Aluminum metals & distribution (8.5 miles) HQ
340 E California Blvd offers scale at 60 units with larger-than-typical floor plans, positioned in a high-cost ownership enclave where elevated home values and strong incomes tend to reinforce multifamily demand. According to CRE market data from WDSuite, neighborhood rents are elevated but rent-to-income levels remain manageable, and within a 3-mile radius the share of renter-occupied units and projected increase in households indicate a durable tenant base for stabilized operations.
The 1973 vintage implies potential value-add via interior updates and systems modernization, alongside routine capital planning to stay competitive with newer product. Neighborhood occupancy is steady rather than tight, so leasing strategy and asset quality will matter; however, amenity access and proximity to major employers underpin retention and absorption potential over the hold.
- High-cost ownership market supports sustained renter reliance and pricing power
- Scale and larger average unit sizes can bolster retention and NOI per turn
- 3-mile demographics show strong renter concentration and projected household growth
- 1973 vintage presents value-add and systems-upgrade opportunities
- Risk: neighborhood safety sits below national medians; standard security and operational focus advised