| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 34th | Poor |
| Amenities | 26th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 N Park Vista St, Anaheim, CA, 92806, US |
| Region / Metro | Anaheim |
| Year of Construction | 1976 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 N Park Vista St Anaheim Multifamily Investment
This 54-unit property built in 1976 sits in a neighborhood with strong rental demand, where 56% of housing units are renter-occupied and occupancy rates reach 95.7%.
This inner suburb neighborhood in Orange County positions investors within a stable rental market, where 56.1% of housing units are renter-occupied—ranking in the top 10% nationally among neighborhoods. The 95.7% occupancy rate demonstrates consistent tenant demand, while median contract rents of $2,063 have grown 25.9% over five years, indicating pricing power resilience.
The 1976 construction year aligns closely with the neighborhood average of 1974, suggesting potential value-add opportunities through strategic renovations and unit improvements. Demographics within a 3-mile radius show a household income median of $100,756 with 61.6% growth over five years, supporting rent growth potential as the area attracts higher-earning residents.
Local amenities include 1.17 grocery stores per square mile, ranking above the metro median among 516 neighborhoods, though the area shows limited walkable retail density with minimal cafes and childcare facilities. The rent-to-income ratio of 26% suggests manageable affordability for current residents, though investors should monitor lease renewal dynamics as home values of $564,817 create elevated ownership costs that can sustain rental demand.
Forward-looking demographics project household growth of 44.5% through 2028, expanding the potential tenant base significantly. This projected renter pool expansion, combined with forecast median rent increases to $2,637, supports long-term occupancy stability and revenue growth opportunities for multifamily investors.
Crime metrics show mixed signals requiring careful evaluation. Property offense rates rank 138th among 516 metro neighborhoods, placing the area around the median for the region. However, property offense rates increased 274% year-over-year, ranking 467th nationally—indicating recent deterioration that warrants monitoring.
Violent crime rates of 70.6 per 100,000 residents rank 275th among metro neighborhoods, performing below regional averages. The 419% year-over-year increase in violent offenses places the neighborhood in the bottom 5% nationally for crime trends. Investors should factor these safety dynamics into tenant screening, property management protocols, and insurance considerations.
The property benefits from proximity to several major corporate employers, providing workforce housing opportunities for professional tenants within reasonable commuting distance.
- United Technologies — aerospace & defense (4.6 miles)
- Xerox — technology services (7.0 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — manufacturing (9.5 miles)
- First American Financial — financial services (9.9 miles) — HQ
- Microsoft Technology Center — technology (11.7 miles)
This 54-unit property built in 1976 presents a value-add opportunity in a neighborhood with demonstrated rental demand fundamentals. The 95.7% occupancy rate and 56% renter-occupied housing stock create a stable tenant base, while the $9,488 average NOI per unit ranks in the 77th percentile nationally. According to CRE market data from WDSuite, household income growth of 61.6% over five years supports rent escalation potential as the area attracts higher-earning residents.
The 1976 vintage aligns with neighborhood norms, positioning the asset for strategic capital improvements that can capture upside from the area's demographic shifts. Projected household growth of 44.5% through 2028 expands the renter pool significantly, while forecast rent increases to $2,637 suggest continued revenue growth opportunities for well-positioned multifamily assets.
- Strong occupancy fundamentals with 95.7% neighborhood rates and top-decile rental tenure
- Value-add potential through renovations on 1976-vintage units
- Household income growth of 61.6% over five years supports rent escalation
- Projected 44.5% household growth expands tenant base through 2028
- Risk: Recent crime rate increases require enhanced security protocols and tenant screening