| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 39th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 721 N Azusa Ave, West Covina, CA, 91791, US |
| Region / Metro | West Covina |
| Year of Construction | 1980 |
| Units | 82 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
721 N Azusa Ave, West Covina Multifamily Opportunity
Neighborhood occupancy is competitive within the Los Angeles metro and in the top quintile nationally, supporting stable cash flow potential according to WDSuite’s CRE market data. Elevated ownership costs in West Covina further sustain renter demand relative to for-sale options.
The property sits in an Urban Core neighborhood of the Los Angeles-Long Beach-Glendale metro that is competitive among Los Angeles neighborhoods on occupancy (ranked in the stronger third out of 1,441), and in the top quintile nationally for occupancy stability. For investors, this points to dependable leasing and lower downtime relative to weaker submarkets.
Renter demand is underpinned by a majority renter-occupied housing stock at the neighborhood level (about 55% renter-occupied units), indicating a deep tenant base for multifamily assets. Within a 3-mile radius, demographics are aggregated and show households have inched higher while average household size is trending smaller; looking ahead, households are projected to rise further, which supports a larger tenant base and ongoing leasing depth.
Local amenities skew toward daily-needs convenience: grocery density is in the upper national percentiles, and restaurants are also comparatively dense, while parks, pharmacies, childcare, and cafes are limited in the immediate neighborhood. For multifamily, this mix favors everyday essentials and dining access, though limited green space and third places may temper lifestyle appeal for some renters.
Home values in the neighborhood benchmark high versus the nation, reinforcing reliance on rental housing and aiding lease retention as would-be owners face a high-cost ownership market. At the same time, rent-to-income metrics indicate some affordability pressure, so operators should emphasize renewal strategies and measured premiums to maintain occupancy.
Based on neighborhood-level indicators, this area performs above the metro average for safety and trends safer than many U.S. neighborhoods (national safety percentiles in the upper ranges). Violent-offense indicators have shown notable year-over-year improvement, which is constructive for retention and leasing.
As always, investors should compare trends to peer submarkets and review property-level measures, since safety outcomes vary block to block and over time. The rank comparisons above reference performance among 1,441 Los Angeles metro neighborhoods and national percentiles benchmarked against neighborhoods nationwide.
Proximity to established employers supports commuter convenience and a durable renter pool, with energy, utilities, logistics, aerospace, and manufacturing offices within a typical drive commute.
- Chevron — energy (7.0 miles)
- Edison International — electric utility (10.1 miles) — HQ
- Ryder Vehicle Sales — logistics & fleet sales (10.9 miles)
- United Technologies — aerospace/defense (12.2 miles)
- International Paper — paper & packaging (12.9 miles)
This 82-unit asset benefits from a neighborhood with competitive occupancy within the Los Angeles metro and top-quintile standing nationally, supporting steady collections and reduced downtime. High neighborhood home values relative to the nation tend to keep households in the rental market longer, bolstering demand for well-managed multifamily. According to CRE market data from WDSuite, local restaurant and grocery access is strong, adding day-to-day convenience that can aid leasing velocity, even as parks and cafes are less prevalent nearby.
Investor focus should center on operating discipline and tenant retention. Neighborhood rent-to-income readings suggest some affordability pressure, so measured rent growth, renewal incentives, and resident experience can protect occupancy. A majority renter-occupied housing stock and projected household expansion within a 3-mile radius point to a resilient tenant base over the medium term.
- Competitive occupancy locally and top-quintile nationally supports cash flow durability
- High ownership costs reinforce reliance on multifamily, aiding lease retention
- Strong grocery and dining access underpin day-to-day renter convenience
- 3-mile household growth outlook expands the renter pool and supports leasing
- Risk: affordability pressure requires disciplined rent setting and renewal strategy