| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 30th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 W La Palma Ave, Anaheim, CA, 92801, US |
| Region / Metro | Anaheim |
| Year of Construction | 1978 |
| Units | 25 |
| Transaction Date | 2015-01-14 |
| Transaction Price | $3,816,000 |
| Buyer | STRATTFORD ANAHEIM LLC |
| Seller | WILDWOOD APARTMENTS LLC |
520 W La Palma Ave, Anaheim Multifamily Investment
Neighborhood-level renter-occupied share and occupancy indicate a deep tenant base and generally stable leasing, according to WDSuite’s CRE market data for the surrounding area. The metrics cited are measured for the neighborhood, not this property.
Positioned in Anaheim’s Urban Core, the property benefits from neighborhood fundamentals that support multifamily demand. Neighborhood occupancy is in the upper half of national benchmarks, and renter-occupied housing is prevalent, reinforcing depth of the tenant base and aiding retention for well-managed assets. Median contract rents in the neighborhood have risen over the last five years, while the rent-to-income ratio indicates room for disciplined pricing and lease management.
Access to daily needs is a local strength: grocery density ranks competitive among Anaheim-Santa Ana-Irvine neighborhoods (ranked 17th of 516, top quartile nationally), with strong restaurant (90th percentile nationally) and park access (94th percentile). Childcare availability is also a standout (96th percentile), though café density is limited. These patterns point to convenience-driven livability that can support workforce households.
Housing and ownership context: Neighborhood home values sit in a high-cost ownership market (93rd percentile nationally) and the value-to-income ratio is in the top national percentiles, which tends to sustain reliance on rental housing and supports pricing power for competitive units. The neighborhood’s average NOI per unit sits in the upper quartile nationally, suggesting historically solid operating performance for comparable assets in the area, though individual outcomes depend on asset quality and management.
Vintage and asset positioning: Built in 1978, the property is newer than the neighborhood’s average construction year (1958). This relative vintage advantage can improve competitive positioning versus older stock; however, investors should underwrite near-term capital needs for building systems and potential value-add renovations to capture contemporary renter preferences.
Demographics within a 3-mile radius: Population has been broadly stable with a modest increase in households and smaller household sizes over time, pointing to a gradually expanding renter pool. Forward-looking estimates show continued increases in household counts, which supports occupancy stability for well-maintained multifamily assets. Average school ratings in the neighborhood are below national medians, which may affect family-oriented demand but does not preclude strong workforce leasing given amenity access and employment proximity.
Neighborhood safety indicators are mixed relative to regional and national benchmarks. Compared with the 516 neighborhoods in the Anaheim-Santa Ana-Irvine metro, the area’s overall crime rank sits below the metro median, which signals elevated incident levels versus many local peers. Nationally, the neighborhood trends below the median for safety, but recent year-over-year declines in both property and violent offense estimates indicate improving conditions.
For investors, the takeaway is to incorporate prudent security measures and operating practices, while noting the recent directional improvement. Safety metrics reflect neighborhood conditions, not the property itself, and can vary block to block.
Proximity to diversified corporate employers supports commuter convenience and multifamily demand, particularly for workforce renters. Notable nearby employers include United Technologies, International Paper, Time Warner Business Class, Xerox, and First American Financial.
- United Technologies — aerospace/industrial (5.8 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging/industrial (6.5 miles)
- Time Warner Business Class — telecommunications (8.0 miles)
- Xerox — technology/services (8.5 miles)
- First American Financial — title & data services (10.6 miles) — HQ
This 25-unit 1978-vintage asset aligns with steady neighborhood demand drivers: renter-occupied housing is prevalent, neighborhood occupancy sits in the upper half of national benchmarks, and household counts within a 3-mile radius are expanding. In a high-cost ownership market, these factors collectively support tenant depth and leasing durability for well-managed assets. According to CRE market data from WDSuite, neighborhood-level rents have advanced over the last five years, and average NOI per unit for comparable assets ranks in the upper quartile nationally, underscoring operational potential at the submarket level.
The property’s relative vintage advantage versus older local stock suggests scope for targeted value-add or system upgrades to enhance competitiveness and capture pricing power, while maintaining attention to operating risks such as below-median school ratings and safety metrics that trail national medians. Demand is further supported by access to daily-needs amenities and proximity to diversified employment nodes, which can aid retention.
- Renter-occupied concentration and above-median neighborhood occupancy support leasing stability
- High-cost ownership market reinforces reliance on multifamily and pricing power
- 1978 construction offers value-add potential versus older neighborhood stock
- Amenity access and employer proximity benefit workforce renter demand
- Risks: below-median school ratings, safety metrics below national median; underwrite security and leasing strategy accordingly