| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 70th | Good |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 712 E Walnut St, Pasadena, CA, 91101, US |
| Region / Metro | Pasadena |
| Year of Construction | 2004 |
| Units | 28 |
| Transaction Date | 2020-11-23 |
| Transaction Price | $17,212,500 |
| Buyer | SMART PROPERTY LA LLC |
| Seller | PASADENA FEE OWNER LLC |
712 E Walnut St Pasadena Multifamily Investment
Positioned in Pasadena’s urban core, the property benefits from deep renter demand and high-cost ownership dynamics, according to WDSuite’s CRE market data. The neighborhood’s renter-occupied share and amenity density support leasing durability for well-maintained assets.
Pasadena’s Urban Core setting delivers strong daily-life convenience. The neighborhood places in a high national percentile for amenities such as restaurants, groceries, pharmacies, and parks, indicating a walkable, service-rich environment that supports multifamily retention. Schools score below national averages, which may temper appeal for some family renters, but the broader amenity mix caters well to professionals and downsizers. Based on commercial real estate analysis from WDSuite, this balance often underpins steady demand for well-located apartment communities.
Relative positioning within the Los Angeles-Long Beach-Glendale metro is competitive: the neighborhood’s overall rank is 57 among 1,441 metro neighborhoods, placing it in the top quartile nationally on several amenity and income-linked indicators. Median home values are elevated versus national norms, which reinforces reliance on rental housing and can bolster pricing power for quality units. Rent-to-income levels are higher than many U.S. locations, so prudent lease management remains important for retention.
The housing stock skews renter-friendly: the share of housing units that are renter-occupied in the neighborhood is high, signaling depth in the tenant base and supporting demand visibility for multifamily owners. Neighborhood occupancy has improved over the past five years, though it sits closer to the national midpoint than the top tier, suggesting a leasing environment that rewards competitive finishes and attentive operations.
Demographic statistics aggregated within a 3-mile radius show modest population movement alongside a slight increase in households and a gradual reduction in average household size. This pattern typically expands the renter pool and supports occupancy stability, particularly for smaller configurations; larger floorplans can still compete by targeting higher-income households and roommates who value space and location.
Safety conditions are mixed compared with regional and national benchmarks. Within the Los Angeles-Long Beach-Glendale metro, the neighborhood ranks toward the lower end for crime when measured against 1,441 neighborhoods, indicating higher reported incidents than many peer areas. Nationally, property-related offense rates track in low percentiles, while violent offense measures sit below the national midpoint but have shown year-over-year improvement. Owners typically account for this with security-minded site management, lighting, and resident engagement.
Nearby corporate offices provide a broad white-collar employment base that supports renter demand and commute convenience for residents, including Avery Dennison, Edison International, Chevron, Microsoft, and Reliance Steel & Aluminum.
- Avery Dennison — materials & labeling HQ (6.9 miles) — HQ
- Edison International — electric utility HQ (7.3 miles) — HQ
- Chevron — energy offices (8.2 miles)
- Microsoft — technology offices (9.4 miles)
- Reliance Steel & Aluminum — metals & distribution HQ (9.5 miles) — HQ
Built in 2004, the 28-unit property is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while still leaving room for selective modernization as systems age. Large average floorplans support differentiation and can capture space-oriented demand in a location where elevated ownership costs sustain reliance on rental housing. According to CRE market data from WDSuite, neighborhood NOI per unit trends are strong by national standards, and amenity density is a meaningful retention tailwind.
Renter demand fundamentals are supported by a high renter-occupied share at the neighborhood level and a 3-mile demographic backdrop showing a slight increase in households and smaller household sizes, which typically expand the tenant base. Neighborhood occupancy has trended up over the past five years, suggesting stable leasing conditions for assets priced and operated competitively. Key watchpoints include affordability pressure relative to incomes and below-average school ratings, which may narrow the family-renter segment.
- 2004 vintage offers competitive standing versus older inventory with potential value-add through targeted updates
- Large average unit sizes support differentiation and resident retention in a high-amenity Pasadena location
- Elevated home values reinforce sustained rental demand and pricing power for quality operations
- Neighborhood occupancy trending upward supports leasing stability relative to metro peers
- Risks: affordability pressure and below-average school ratings; proactive lease and marketing strategies recommended