| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 69th | Good |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 465 S Madison Ave, Pasadena, CA, 91101, US |
| Region / Metro | Pasadena |
| Year of Construction | 1974 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
465 S Madison Ave Pasadena Multifamily Investment
Positioned in Pasadena s urban core, this 54-unit asset benefits from deep renter demand and strong neighborhood income levels, according to WDSuite s CRE market data. Amenity density and a high share of renter-occupied housing support durable leasing and retention.
The property sits in an Urban Core neighborhood rated A and ranked 81st among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, placing it firmly competitive within the metro and in the top quartile nationally for overall neighborhood performance. Amenity access is a standout: cafes and restaurants rank near the metro s leaders (ranks 18 and 26 of 1,441) and national amenity percentiles are in the mid-90s, supporting daily convenience that tends to help leasing velocity and renewal rates.
Renter concentration is high at the neighborhood level, with renter-occupied units comprising a substantial share of housing (98th percentile nationally). For investors, that depth of renter households suggests a broad tenant base and supports ongoing demand for multifamily. Neighborhood-level occupancy has been middling versus metro peers, but lease-up risk is partially offset by the strong renter pool and steady amenity-driven appeal.
Within a 3-mile radius, households have grown modestly despite recent population softness and are projected to expand further, indicating a larger tenant base over time. Median incomes are strong and rising, while the value-to-income landscape signals a high-cost ownership market that tends to reinforce reliance on rental housing. Rent levels relative to incomes imply manageable affordability pressure, a positive for resident retention and revenue stability.
Education quality indicators in the neighborhood track below national averages, which can influence some demand segments; however, the submarket s employment access and amenity depth remain core strengths. On the income side, neighborhood NOI per unit ranks in the 94th percentile nationally, reinforcing that comparable assets in this area have historically produced solid income profiles based on CRE market data from WDSuite.
Safety benchmarks are mixed when viewed against broader comparables. The neighborhood ranks in the lower tiers of the metro for crime (1256 of 1,441), placing it below the metro median and around the lower third nationally. Property-related incidents show a recent year-over-year improvement, while violent incident estimates have moved up, underscoring the importance of standard property security measures and active management.
Investors should interpret these as neighborhood-level signals rather than property-specific conditions, and consider typical mitigation steps such as lighting, access control, and resident engagement to support leasing and retention outcomes over time.
Nearby corporate anchors provide a diverse employment base that supports renter demand and commute convenience for residents, including Edison International, Avery Dennison, Chevron, Microsoft, and Reliance Steel & Aluminum.
- Edison International 3 corporate offices (6.7 miles) 1 2 3HQ
- Avery Dennison 3 corporate offices (6.9 miles) 1 2 3HQ
- Chevron 3 corporate offices (7.9 miles)
- Microsoft 3 corporate offices (8.8 miles)
- Reliance Steel & Aluminum 3 corporate offices (8.8 miles) 1 2 3HQ
465 S Madison Ave offers scale at 54 units with larger-than-typical floor plates (average unit size around 1,560 sq. ft.), supporting premium positioning and longer tenures. Built in 1974, the asset likely benefits from modernization potential that can enhance competitiveness versus older stock while aligning capital planning to building systems and common-area upgrades. According to CRE market data from WDSuite, the neighborhood s renter depth, strong amenity access, and high-cost ownership context collectively support durable multifamily demand.
Neighborhood signals suggest stable long-term fundamentals: a high share of renter-occupied housing supporting a broad tenant base, top-quartile amenity access aiding absorption and renewal, and incomes that help sustain rent levels without outsized affordability pressure. Forward-looking household growth within 3 miles points to a gradually expanding renter pool, which supports occupancy stability and revenue management over time. Key risks include neighborhood safety benchmarks trending below metro averages and the need to program capex consistent with a 1970s vintage.
- Scale and larger unit layouts support positioning and retention
- Strong renter depth and amenity access underpin demand
- High-cost ownership market reinforces multifamily reliance
- Value-add upside from 1974 vintage through targeted upgrades
- Monitor neighborhood safety metrics and allocate for security/CapEx