| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1838 E Workman Ave, West Covina, CA, 91791, US |
| Region / Metro | West Covina |
| Year of Construction | 2011 |
| Units | 65 |
| Transaction Date | 2007-05-02 |
| Transaction Price | $3,600,000 |
| Buyer | WEST COVINA SENIOR VILLAS II LP |
| Seller | HSIENTEIN WORKMAN INVESTMENT LLC |
1838 E Workman Ave, West Covina Multifamily Opportunity
Newer construction and steady neighborhood occupancy point to durable renter demand, according to WDSuite’s CRE market data, with pricing power tempered by local affordability pressures.
The property’s 2011 vintage is newer than the neighborhood’s typical 1970s stock, offering competitive positioning versus older assets while leaving room for targeted systems updates or light modernization over a multi-year hold. The surrounding area is classified as Urban Core, with occupancy in the neighborhood running in the top quintile nationally, supporting leasing stability for well-managed assets.
Livability drivers are mixed: grocery access trends very strong (high national percentile) and restaurant density is well above national norms, while parks, pharmacies, childcare, and cafes are comparatively sparse within the neighborhood footprint. Average school ratings sit near the national middle, which helps serve a broad renter profile without being a distinct draw on its own.
Tenant depth is supported by a high renter-occupied share at the neighborhood level, indicating a sizable base of multifamily households. At the same time, the rent-to-income ratio runs elevated locally, which can increase retention risk if rent growth materially outpaces incomes; active lease management and renewal strategies are important in this context.
Within a 3-mile radius, household counts have inched higher in recent years and are projected to expand further by the next five-year horizon, alongside rising median incomes. This combination suggests a gradually larger tenant base with greater spending capacity, reinforcing occupancy stability and rent collections for professionally operated properties based on CRE market data from WDSuite.
Neighborhood safety indicators are above national averages overall and competitive among Los Angeles–Long Beach–Glendale neighborhoods, aiding resident retention and reducing turnover risk for stabilized assets. Violent offense rates benchmark in a favorable national percentile, and recent year-over-year trends show notable improvement.
Property offense measures sit closer to the national middle and have seen a recent uptick, so owners should maintain standard security practices and lighting/camera coverage. On balance, the area’s safety profile supports multifamily operations without requiring extraordinary mitigations.
Nearby corporate offices provide a diverse employment base and reasonable commute times that support renter demand and renewal prospects, led by energy, utilities, logistics, aerospace, and packaging employers.
- Chevron — energy (7.0 miles)
- Edison International — electric utility (10.1 miles) — HQ
- Ryder Vehicle Sales — logistics & fleet services (10.6 miles)
- United Technologies — aerospace & manufacturing offices (11.5 miles)
- International Paper — packaging & paper (12.5 miles)
1838 E Workman Ave brings a 2011-built, 65-unit profile to a neighborhood characterized by older 1970s-era stock, offering relative competitiveness on curb appeal, unit finishes, and systems. Neighborhood occupancy trends sit in a strong national percentile, and renter concentration is high, supporting depth of demand for multifamily. Elevated home values across the area reinforce reliance on rental housing, while the amenity mix favors daily convenience (notably groceries and dining) over lifestyle features.
Within a 3-mile radius, households have edged higher and are projected to grow further alongside rising incomes by the next five-year window, which supports a larger tenant base and leasing stability. According to CRE market data from WDSuite, local rent levels and a higher rent-to-income ratio call for disciplined renewal and pricing strategies, but the combination of solid occupancy, newer vintage, and a broad employment base underpins a steady, operations-focused thesis.
- Newer 2011 construction relative to local stock supports competitive positioning with limited near-term capex.
- Strong neighborhood occupancy and high renter concentration bolster demand durability and collections.
- Daily-needs amenity strength (groceries, dining) and proximity to diverse employers aid retention.
- Demographic outlook within 3 miles points to more households and rising incomes, supporting leasing stability.
- Risks: elevated rent-to-income ratio and thinner lifestyle amenities (parks/cafes) require thoughtful pricing and resident programming.