| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1842 E Workman Ave, West Covina, CA, 91791, US |
| Region / Metro | West Covina |
| Year of Construction | 2004 |
| Units | 86 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1842 E Workman Ave West Covina Multifamily Investment
Neighborhood occupancy trends are competitive for Los Angeles, supporting stable leasing fundamentals for a professionally managed asset, according to WDSuite’s CRE market data. With a 2004 vintage in a high-cost ownership market, the property is positioned to capture durable renter demand.
Located in West Covina within the Los Angeles-Long Beach-Glendale metro, the neighborhood shows solid renter demand fundamentals. Occupancy performance ranks competitive among 1,441 metro neighborhoods and sits above the metro median nationally, suggesting support for lease stability and steady absorption for multifamily.
Daily needs access is a relative strength: grocery availability is in the upper tier nationally while restaurants are also dense by national comparison. Non-grocery amenities such as parks, pharmacies, cafes, and childcare are limited within the neighborhood footprint, which may modestly influence lifestyle appeal but does not typically derail workforce-oriented demand in this part of the metro.
Home values are elevated by national standards and the value-to-income ratio ranks among the highest nationally, indicating a high-cost ownership market that tends to reinforce reliance on rental housing and can support pricing power when managed carefully. School ratings sit near the national midpoint, providing a neutral read-through for family renter appeal.
Vintage matters: with the neighborhood’s average construction year around the late 1970s, a 2004-built asset should compete favorably versus older stock. That positioning can reduce near-term capital exposure while still leaving room for targeted modernization to drive rent premiums. At the neighborhood level, NOI per unit trends are in the upper tier nationally, aligning with investor interest in submarkets where operating performance has been resilient, based on CRE market data from WDSuite.
Within a 3-mile radius, demographics indicate a large, diversified population with households projected to grow over the next five years alongside smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability. The renter-occupied share of housing units is below half today and is projected to edge higher, suggesting incremental depth to multifamily demand without a heavy oversupply signal.
Safety indicators compare favorably to many urban Los Angeles neighborhoods. Overall crime ranks competitive among 1,441 metro neighborhoods and sits above national averages for safety, while violent offense rates benchmark in the top tiers nationally. This profile generally supports resident retention and leasing confidence.
Recent trends are mixed: estimates point to a meaningful decline in violent incidents year over year, alongside a modest uptick in property-related incidents. For investors, this translates to a generally improving serious-crime backdrop with routine property management practices remaining important.
Proximity to established corporate employers underpins workforce housing demand and commute convenience, notably in energy, utilities, logistics, and manufacturing-oriented offices. The following nearby employers help anchor the area’s employment base.
- Chevron — energy offices (7.0 miles)
- Edison International — utilities (10.1 miles) — HQ
- Ryder Vehicle Sales — logistics (10.5 miles)
- United Technologies — aerospace/industrial offices (11.5 miles)
- International Paper — packaging & paper (12.6 miles)
1842 E Workman Ave is an 86-unit, 2004-vintage multifamily asset positioned in a high-cost ownership pocket of Los Angeles County. Neighborhood occupancy ranks competitive among 1,441 metro neighborhoods and above the metro median nationally, supporting a case for stable cash flow. The asset’s newer vintage relative to the local 1970s average provides a competitive edge over older comparables while still offering targeted value-add through unit and common-area modernization. Elevated home values in the area tend to sustain renter reliance on multifamily housing, and within a 3-mile radius, households are projected to increase even as average household size trends lower—both of which expand the tenant base and support occupancy stability.
According to CRE market data from WDSuite, neighborhood-level operating performance (NOI per unit) benchmarks in the upper tier nationally, consistent with resilient renter demand. Investors should balance the positive demand story with affordability management: rent-to-income metrics signal potential pressure for some households, making thoughtful lease management and renewal strategies important to retention.
- Competitive neighborhood occupancy versus metro peers supports leasing stability
- 2004 construction competes well against older local stock with selective modernization upside
- High-cost ownership market reinforces dependable renter demand and pricing power
- Growing household counts and smaller household sizes within 3 miles expand the tenant base
- Risk: affordability pressure requires disciplined rent setting and renewal strategies