| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 655 S Velare St, Anaheim, CA, 92804, US |
| Region / Metro | Anaheim |
| Year of Construction | 1973 |
| Units | 29 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
655 S Velare St Anaheim Multifamily Investment
This 29-unit property built in 1973 operates in an urban core neighborhood with 96.6% occupancy rates and strong renter demand, according to CRE market data from WDSuite.
The property sits within an established urban core neighborhood where 59.1% of housing units are renter-occupied, ranking in the top 10% nationally for rental tenure concentration. This high renter share reflects strong multifamily demand fundamentals in the immediate area.
Built in 1973, the property aligns with the neighborhood's average construction year of 1979, indicating consistent building stock that may present value-add opportunities for investors focused on renovation and modernization strategies. The vintage suggests potential for capital improvements to enhance competitive positioning.
Neighborhood-level occupancy trends show 96.6% occupancy rates, ranking above the median among 516 metro neighborhoods and placing in the 81st percentile nationally. Contract rents average $1,718 with 23% growth over five years, while demographics within a 3-mile radius show household income growth of 43% over the same period, supporting rent collection stability.
The area offers strong grocery access with 6.07 stores per square mile, ranking in the top 5% among metro neighborhoods, while restaurant density reaches 14.16 per square mile, supporting tenant lifestyle preferences. However, cafe and pharmacy amenities are limited, which may affect tenant retention in competitive leasing scenarios.
Crime metrics show the neighborhood ranking 470th among 516 metro neighborhoods, placing in the 22nd percentile nationally for safety performance. Property offense rates reached 334 incidents per 100,000 residents, while violent crime rates measured 174 incidents per 100,000 residents.
Both property and violent crime rates increased significantly over the past year, with property offenses rising 90% and violent offenses up 223%. Investors should factor these trends into tenant retention strategies and consider security enhancements as part of property improvement plans.
The property benefits from proximity to established corporate employers, providing workforce housing opportunities for professionals within reasonable commuting distance.
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & manufacturing (3.2 miles)
- Time Warner Business Class — telecommunications services (6.0 miles)
- LKQ — automotive parts distribution (7.2 miles)
- United Technologies — aerospace & defense (9.0 miles)
- First American Financial — insurance & financial services (10.6 miles) — HQ
This 29-unit property offers stable cash flow potential in a neighborhood with 96.6% occupancy rates and strong renter demographics. The 1973 construction year presents value-add opportunities through strategic renovations, while the high concentration of rental housing (59.1% renter-occupied units) indicates sustained multifamily demand. Demographics within a 3-mile radius show household growth and income gains that support rent collection stability.
Commercial real estate analysis from WDSuite reveals the neighborhood's net operating income averaging $9,021 per unit, ranking in the 74th percentile nationally. However, investors should monitor recent crime trends and factor security improvements into capital planning, as both property and violent offenses have increased significantly over the past year.
- Strong occupancy fundamentals with 96.6% neighborhood rates above metro median
- High renter concentration (59.1%) supports multifamily demand stability
- Value-add potential through modernization of 1973 vintage property
- Growing household income base within 3-mile radius supports rent growth
- Risk consideration: Rising crime trends require security investment planning