| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 84th | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 El Centro St, South Pasadena, CA, 91030, US |
| Region / Metro | South Pasadena |
| Year of Construction | 1988 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1000 El Centro St South Pasadena Multifamily Investment
This 64-unit property built in 1988 benefits from neighborhood-level occupancy of 94.6% in a market where 57.4% of housing units are renter-occupied. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for educational quality with perfect school ratings.
South Pasadena presents a compelling investment environment with strong fundamentals across multiple metrics. The neighborhood ranks 208th among 1,491 metro neighborhoods with an A rating, placing it in the top quartile for overall desirability. Demographics within a 3-mile radius show household income growth of 41.8% over five years, reaching a median of $104,230, while the area maintains 58.4% renter-occupied housing units supporting consistent rental demand.
The property's 1988 construction year aligns with the neighborhood average of 1960, positioning it as relatively modern within the local housing stock. This vintage suggests manageable near-term capital expenditure needs while offering potential value-add opportunities through selective unit upgrades. Neighborhood-level occupancy of 94.6% demonstrates market stability, though this represents a modest 2.8% increase over five years, indicating steady but not accelerating absorption.
Educational infrastructure stands as a key tenant retention driver, with area schools achieving perfect 5.0 ratings that rank 1st nationally among metro neighborhoods. The neighborhood also provides strong amenity access with 4.7 childcare facilities per square mile (99th national percentile) and 2.4 parks per square mile (95th national percentile). Current median contract rents of $1,996 have grown 29.5% over five years, though the rent-to-income ratio of 18% suggests manageable affordability pressure for area households.
Forward-looking demographics within the 3-mile radius project household growth of 32.1% through 2028, expanding from 78,546 to 103,767 households. This represents significant renter pool expansion, with median household income forecast to reach $140,811. However, projected rent increases to $2,451 will require careful lease management as affordability dynamics evolve.
Safety metrics present a mixed profile requiring careful evaluation. The neighborhood ranks 1,063rd among 1,491 metro neighborhoods for overall crime, placing it below the metro median at the 39th national percentile. Property offense rates of 161.5 incidents per 100,000 residents rank 388th metro-wide (59th national percentile), indicating above-average performance relative to national standards.
Violent crime remains relatively contained at 28.5 incidents per 100,000 residents, ranking 598th among metro neighborhoods (53rd national percentile). However, both property and violent offense rates have increased significantly over the past year by 53.1% and 64.9% respectively, ranking in the bottom quartile nationally for year-over-year trends. Investors should monitor these patterns and consider their impact on tenant retention and insurance costs.
The property benefits from proximity to major corporate headquarters and offices that support workforce housing demand. Edison International, Avery Dennison, and Microsoft maintain significant operations within 7 miles, providing employment stability for area residents.
- Edison International — utilities & energy (6.1 miles) — HQ
- Avery Dennison — materials & manufacturing (6.4 miles) — HQ
- Microsoft — technology (7.0 miles)
- Reliance Steel & Aluminum — industrial materials (7.0 miles) — HQ
- CBRE Group — commercial real estate services (7.1 miles) — HQ
This South Pasadena asset offers stable cash flow fundamentals anchored by strong neighborhood-level occupancy of 94.6% and a highly educated tenant base in an area ranking 1st nationally for school quality. The property's 1988 vintage provides value-add renovation opportunities while avoiding the capital intensity of significantly older stock. Demographic projections within a 3-mile radius show substantial household growth of 32.1% through 2028, expanding the renter pool from 78,546 to 103,767 households and supporting long-term absorption.
Commercial real estate analysis indicates the neighborhood's A rating reflects strong fundamentals across housing, demographics, and amenities that translate to tenant retention advantages. Proximity to major employers including Edison International and Avery Dennison headquarters within 7 miles provides employment stability, while the area's 57.4% renter-occupied housing share demonstrates established rental market depth.
- Neighborhood occupancy of 94.6% with 57.4% renter-occupied housing units supporting demand stability
- 32.1% projected household growth through 2028 expanding renter pool by over 25,000 households
- Perfect 5.0 school ratings ranking 1st nationally among metro neighborhoods for tenant retention
- 1988 construction provides value-add renovation opportunities without major structural capital needs
- Risk consideration: Property and violent crime rates increased 53.1% and 64.9% year-over-year requiring monitoring