| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1909 E Garvey Ave N, West Covina, CA, 91791, US |
| Region / Metro | West Covina |
| Year of Construction | 1972 |
| Units | 54 |
| Transaction Date | 2003-05-28 |
| Transaction Price | $5,120,000 |
| Buyer | ZENG FRANK |
| Seller | CHIU YEE NING |
1909 E Garvey Ave N West Covina Multifamily with Stable Demand
Neighborhood fundamentals point to steady renter demand and occupancy resilience, according to WDSuite’s CRE market data. Area occupancy is competitive across Los Angeles and top-quintile nationally, indicating a supportive backdrop for long-term leasing.
Positioned in West Covina’s urban core, the property benefits from neighborhood occupancy that is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 469 out of 1,441) and in the top quintile nationally. The renter-occupied share is measured at roughly 55% for the neighborhood, signaling a deep tenant base and underpinning demand for multifamily units. Median contract rents trend above national norms (77th percentile), which supports revenue potential but also calls for disciplined lease management.
Livability signals are mixed. Restaurant density is strong (92nd percentile nationally) and grocery access is a standout (98th percentile), while cafes, parks, and pharmacies are comparatively sparse in the immediate neighborhood. Average school ratings sit near the national midpoint (49th percentile), which keeps the family appeal balanced without being a primary demand driver for the area.
Within a 3-mile radius, the population edged down modestly over the last five years, while household counts increased, suggesting smaller household sizes and a steady pool of renters. Looking ahead, 3-mile forecasts indicate modest population growth and a sizable increase in households, which points to renter pool expansion and supports occupancy stability. Forecasted rent levels also rise in this radius, aligning with income growth expectations and reinforcing the case for sustained multifamily demand.
Ownership costs are elevated: local home values sit in the 93rd percentile nationally and the value-to-income ratio is among the highest (99th percentile). In practical terms, this is a high-cost ownership market that tends to reinforce renter reliance on multifamily housing and can support pricing power and lease-up velocity. At the same time, the neighborhood’s above-average per-unit NOI profile (89th percentile nationally) indicates historically strong operating performance relative to many U.S. neighborhoods, based on CRE market data from WDSuite.
Safety indicators are favorable in a national context and competitive among Los Angeles-Long Beach-Glendale neighborhoods (crime rank 540 of 1,441; national safety percentile roughly 67th). Violent offense rates benchmark even stronger (about the 71st percentile nationally), while property offenses track near the upper third for safety (around the 69th percentile).
Recent trends are mixed: violent incidents show a notable year-over-year improvement (strong national standing for declines), whereas property offenses ticked up in the latest year. For investors, this pattern supports a generally stable outlook, with standard property-level measures and resident engagement remaining prudent for retention and asset protection.
Nearby corporate offices provide diverse employment anchors that support renter demand through commute convenience and workforce stability. The list below highlights key employers within a roughly 7–13 mile radius that align with the area’s tenant base.
- Chevron — energy (7.1 miles)
- Edison International — utility holding company (10.2 miles) — HQ
- Ryder Vehicle Sales — fleet services (10.4 miles)
- United Technologies — aerospace & defense offices (11.4 miles)
- International Paper — packaging & paper (12.5 miles)
1909 E Garvey Ave N offers scale at 54 units with neighborhood fundamentals that favor occupancy stability and durable renter demand. The area’s renter-occupied share near 55% indicates depth in the tenant base, while occupancy ranks competitive within the Los Angeles metro and top-quintile nationally. Elevated home values and a high value-to-income ratio characterize a high-cost ownership market, which tends to sustain reliance on rentals and support pricing power. According to CRE market data from WDSuite, the neighborhood’s per-unit NOI profile also benchmarks well versus national peers, reinforcing operational potential.
Built in 1972, the asset is older than the neighborhood average vintage, suggesting targeted capital planning and renovation can unlock value-add upside. Within a 3-mile radius, household counts are projected to rise alongside incomes, pointing to renter pool expansion and support for long-term leasing, even as affordability pressures warrant thoughtful lease and retention strategies.
- Competitive neighborhood occupancy and deep renter base support leasing stability
- High-cost ownership market reinforces rental demand and pricing power
- 1972 vintage provides clear value-add and modernization pathways
- 3-mile forecasts point to growing households and income gains, supporting demand
- Risk: rent-to-income pressures and uneven amenity mix call for disciplined lease management