| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 54th | Good |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 150 Drake St, Pomona, CA, 91767, US |
| Region / Metro | Pomona |
| Year of Construction | 1986 |
| Units | 80 |
| Transaction Date | 2010-07-01 |
| Transaction Price | $9,400,000 |
| Buyer | Raintree Partners |
| Seller | Pacific Property Company |
150 Drake St Pomona Multifamily — Renter Demand and Value‑Add
Neighborhood occupancy remains firm and ownership costs are elevated, supporting renter reliance on multifamily housing, according to WDSuite’s CRE market data. This positions 150 Drake St for steady leasing while renovations on its 1986 vintage could unlock additional yield.
Located in Pomona within the Los Angeles-Long Beach-Glendale metro, the neighborhood carries a B- rating and sits above the metro median (ranked 699 of 1,441). Restaurant, grocery, and pharmacy access track in the higher national percentiles, while cafes and park density are limited—so daily needs are convenient, but lifestyle amenities are thinner in immediate proximity.
For investors, stability is a key feature: neighborhood occupancy is measured at 95.6% (neighborhood level, not the property), signaling durable renter demand relative to broader metro patterns. Renter concentration is high at 57.8% of housing units being renter-occupied, suggesting a deeper tenant base and support for leasing velocity.
Within a 3‑mile radius, the population grew modestly in the last five years and is projected to expand further by 2028, with households up historically and forecast to increase meaningfully—both trends supporting a larger tenant base and potential occupancy stability. Household size is trending slightly lower, which can favor demand for 1–2 bedroom formats; the property’s average unit size of 873 sq. ft. aligns with that demand profile.
Home values in the neighborhood rank high nationally, and the value‑to‑income ratio sits in an elevated range, indicating a high‑cost ownership market that can sustain multifamily demand and lease retention. Median contract rents at the neighborhood level are solid for the metro context, while the rent‑to‑income ratio implies manageable affordability pressure—useful for pricing power, with routine lease management considerations.
The 1986 construction year is slightly newer than the neighborhood’s average vintage (early 1980s), providing a competitive edge versus older stock; however, investors should plan for targeted system updates and common‑area refreshes to maintain positioning and capture value‑add upside.
Safety signals are competitive among Los Angeles-Long Beach-Glendale neighborhoods: the area’s crime rank is 494 out of 1,441, placing it competitive among metro peers. Nationally, the neighborhood is around the 70th percentile, indicating comparatively safer conditions than many U.S. neighborhoods.
Recent trends are constructive at the neighborhood level, with sharp year‑over‑year declines in estimated property and violent offenses (approximately -84% and -86%, respectively). Investors should still underwrite to submarket norms and monitor building‑level controls, but the directional shift supports a more stable operating outlook.
The surrounding employment base mixes logistics, healthcare distribution, and consumer goods, supporting renter demand via commute convenience. Key nearby employers include Ryder Vehicle Sales, Waste Management, McKesson Medical Surgical, General Mills, and Edison International.
- Ryder Vehicle Sales — transportation & fleet services (5.9 miles)
- Waste Management — environmental services (7.9 miles)
- Mckesson Medical Surgical — healthcare distribution (10.8 miles)
- General Mills — consumer packaged goods (13.6 miles)
- Edison International — utilities & energy (19.3 miles) — HQ
150 Drake St is an 80‑unit multifamily asset built in 1986, positioned in a neighborhood with steady renter demand and occupancy measured at 95.6% at the neighborhood level. Elevated home values and a high value‑to‑income ratio indicate a high‑cost ownership market that tends to reinforce reliance on rental housing, supporting retention and pricing discipline. According to CRE market data from WDSuite, the area’s amenity mix is strongest for groceries, pharmacies, and restaurants—practical for residents—even as park and cafe density remain limited.
The vintage provides a clear value‑add path: targeted interior updates, building systems maintenance, and common‑area improvements can enhance competitiveness against older 1980s stock while capturing rent step‑ups consistent with neighborhood benchmarks. Within a 3‑mile radius, population and household growth—paired with slightly smaller average household sizes—suggest ongoing expansion of the renter pool, supporting leasing stability through the cycle. Key risks include thinner lifestyle amenities nearby and the need to manage affordability and underwriting discipline, but recent safety improvements and diversified employers within commuting range help underpin demand.
- Renter depth: high renter-occupied share in the neighborhood supports demand and leasing stability.
- Ownership costs: elevated home values bolster tenant retention and pricing power.
- Value‑add upside: 1986 vintage enables ROI from unit renovations and systems upgrades.
- Demand drivers: nearby employers and daily‑needs amenities support occupancy.
- Risks: limited park/cafe density and affordability management require prudent underwriting.