| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 54th | Good |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1740 Otterbein Ave, Rowland Heights, CA, 91748, US |
| Region / Metro | Rowland Heights |
| Year of Construction | 1973 |
| Units | 72 |
| Transaction Date | 2022-02-23 |
| Transaction Price | $21,960,000 |
| Buyer | PI PROPERTIES NO 66 LLC |
| Seller | NEELY FAMILY TRUST |
1740 Otterbein Ave Rowland Heights Multifamily Investment
This 72-unit property benefits from neighborhood occupancy rates of 97.9%, ranking in the top decile nationally according to WDSuite's CRE market data. Strong household income growth and limited rental supply support stable tenant demand.
The Rowland Heights neighborhood demonstrates solid fundamentals for multifamily investors, with occupancy rates of 97.9% ranking in the 89th percentile nationally among 1,491 metro neighborhoods. Median contract rents of $2,080 have grown 16.1% over five years, reflecting sustained rental demand in this inner suburb location.
Demographics within a 3-mile radius show a stable tenant base with median household income of $99,635 and projected growth to $124,781 by 2028, supporting rent growth potential. The area maintains 31% renter-occupied units, providing a consistent rental market. Home values averaging $744,562 with 29% five-year appreciation reinforce rental demand as elevated ownership costs keep households in the multifamily market.
Built in 1973, this property aligns with the neighborhood's average construction vintage, indicating potential value-add opportunities through strategic renovations and unit improvements. The area offers above-average school ratings at 3.66 out of 5, ranking in the 75th percentile nationally, which supports family tenant retention. Restaurant density of 12.1 per square mile ranks in the 92nd percentile nationally, enhancing neighborhood appeal for renters.
Safety metrics for this Rowland Heights location show mixed but manageable conditions for multifamily operators. Property crime rates of 1,277 per 100,000 residents place the neighborhood below metro median among Los Angeles area neighborhoods, though violent crime rates of 45 per 100,000 residents perform closer to regional averages.
Encouraging trends include a 15% decline in violent crime over the past year, suggesting improving conditions that may support tenant retention and leasing velocity. Property managers should factor neighborhood safety positioning into marketing strategies while monitoring ongoing crime trend developments.
The Rowland Heights area benefits from proximity to diversified corporate employment, supporting workforce housing demand from technology, energy, and industrial sectors.
- United Technologies — aerospace & defense (5.3 miles)
- Ryder Vehicle Sales — transportation services (8.9 miles)
- Chevron — energy operations (10.1 miles)
- LKQ — automotive parts distribution (10.4 miles)
- Edison International — utility services (12.2 miles) — HQ
This 72-unit Rowland Heights property offers stable cash flow fundamentals with neighborhood occupancy rates of 97.9% ranking in the top decile nationally. Built in 1973, the asset presents value-add potential through strategic unit renovations and common area improvements. Demographics within a 3-mile radius support long-term demand, with household income projected to grow 25% to $124,781 by 2028, while elevated home values of $744,562 reinforce rental demand as ownership costs keep households in the multifamily market.
Rent growth of 16.1% over five years demonstrates pricing power, supported by limited rental supply with only 31% of area housing units renter-occupied. According to multifamily property research from WDSuite, the combination of high occupancy, income growth projections, and value-add potential positions this asset for both current income and appreciation upside in the Los Angeles metro market.
- Neighborhood occupancy of 97.9% ranks in 89th percentile nationally
- Household income growth projected at 25% through 2028
- 1973 vintage offers value-add renovation opportunities
- High home values reinforce rental demand dynamics
- Risk: Property crime rates below metro median require active management