| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 69th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42 E Walnut St, Pasadena, CA, 91103, US |
| Region / Metro | Pasadena |
| Year of Construction | 1996 |
| Units | 70 |
| Transaction Date | 1995-09-19 |
| Transaction Price | $1,160,000 |
| Buyer | TELACU HOUSING PASADENA INC |
| Seller | PASADENA UNION LABOR TEMPLE ASSN |
42 E Walnut St Pasadena Multifamily Investment
This 70-unit property benefits from strong neighborhood-level rental demand with 75.4% renter occupancy and top-tier amenity access. CRE market data from WDSuite indicates the location ranks in the 95th percentile nationally for amenity density.
Located in Pasadena's urban core, this property sits within a neighborhood ranking 81st among 1,441 metro neighborhoods with an A rating. The area demonstrates strong rental fundamentals with 75.4% of housing units renter-occupied, ranking in the 98th percentile nationally and supporting consistent tenant demand for multifamily properties.
The neighborhood's amenity profile ranks in the 95th percentile nationally, with exceptional restaurant density (84.13 per square mile) and cafe accessibility (10.66 per square mile). These amenities support tenant retention and appeal to the area's educated workforce, with 31.5% of residents holding bachelor's degrees. However, investors should note the below-average school ratings (1.0 out of 5) may limit appeal to family renters.
Demographics within a 3-mile radius show a stable renter base with median household income of $112,645 and projected growth to $151,970 by 2028. The area's high home values (median $669,646) and elevated ownership costs reinforce rental demand, though investors should monitor the rent-to-income ratio of 0.28, which ranks in the 8th percentile nationally and may indicate affordability pressure for some tenant segments.
Built in 1996, this property aligns with the neighborhood's average construction year of 1974, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older area buildings. Neighborhood-level occupancy of 89.9% provides a baseline for market performance, though this metric has declined slightly over the past five years.
Safety metrics present mixed signals for this Pasadena location. The neighborhood ranks 1,256th out of 1,441 metro neighborhoods for overall crime, placing it in the 28th percentile nationally. Property offense rates are elevated at 3,017 per 100,000 residents, though these rates have declined 10% year-over-year, suggesting improving trends.
Violent crime rates of 201 per 100,000 residents rank in the 20th percentile nationally, indicating higher than average violent offense activity. However, investors should consider these metrics within the context of an urban core location where crime statistics may reflect broader metropolitan patterns rather than localized building-specific risks.
The property benefits from proximity to major corporate headquarters and offices that support workforce housing demand, including several Fortune 500 companies within commuting distance.
- Avery Dennison — materials science and manufacturing (6.2 miles) — HQ
- Edison International — utilities (7.7 miles) — HQ
- Chevron — energy (8.8 miles)
- Microsoft — technology (8.9 miles)
- Reliance Steel & Aluminum — metals distribution (8.9 miles) — HQ
This 70-unit Pasadena property offers investors exposure to a high-amenity urban core location with strong rental fundamentals. The neighborhood's 75.4% renter occupancy rate ranks in the 98th percentile nationally, indicating robust rental demand supported by elevated home ownership costs and proximity to major employment centers. Built in 1996, the property represents newer vintage stock within the area, potentially reducing near-term capital expenditure needs.
According to commercial real estate analysis from WDSuite, the location benefits from exceptional amenity density and workforce proximity, with household income projected to grow 35% over the next five years. However, investors should carefully evaluate safety metrics and monitor occupancy trends, as neighborhood-level occupancy has softened slightly in recent years despite strong underlying rental demand drivers.
- Strong rental market fundamentals with 75.4% renter occupancy ranking 98th percentile nationally
- Exceptional amenity density supporting tenant retention and premium positioning
- Proximity to major corporate headquarters including Fortune 500 employers
- Projected 35% household income growth supporting rent growth potential
- Risk considerations include elevated crime metrics and recent occupancy softening trends