| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 91st | Best |
| Demographics | 38th | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7551 Franklin St, Buena Park, CA, 90621, US |
| Region / Metro | Buena Park |
| Year of Construction | 1975 |
| Units | 20 |
| Transaction Date | 2004-06-02 |
| Transaction Price | $2,905,000 |
| Buyer | MALLUL PALMS LLC |
| Seller | HERNANDEZ JORGE R |
7551 Franklin St Buena Park Value-Add Multifamily
Neighborhood occupancy is strong and ownership costs are elevated for the area, supporting steady renter demand according to WDSuite’s CRE market data. Investors may find a pragmatic renovation path here given stable fundamentals and an older 1975 vintage.
Located in Buena Park within the Anaheim–Santa Ana–Irvine metro, the neighborhood shows high renter demand signals: neighborhood occupancy is in the top quartile nationally, which typically supports lease stability and pricing discipline. This refers to neighborhood-level occupancy, not the property.
Vintage context matters: the property was built in 1975, while the surrounding neighborhood skews newer on average. For investors, the older vintage can translate to value-add potential through targeted renovations and systems upgrades to stay competitive against 1990s-era stock.
Livability is mixed but workable for workforce renters. Parks and childcare density score competitively versus national peers, while restaurants are accessible. By contrast, neighborhood-level cafe, grocery, and pharmacy densities are limited, suggesting some residents rely on nearby districts for daily needs.
Home values in the neighborhood sit high relative to national norms, a high-cost ownership backdrop that tends to reinforce reliance on multifamily rentals and can aid tenant retention. At the same time, average school ratings are lower for the neighborhood, which investors should consider when tailoring unit mix and marketing toward households.
Within a 3-mile radius, demographics indicate a moderate renter-occupied housing share and rising household incomes over recent periods, with projections pointing to more households and smaller average household sizes. For multifamily, that combination generally expands the renter pool and supports occupancy stability, based on commercial real estate analysis from WDSuite.
Safety indicators are best viewed comparatively. The neighborhood ranks competitive nationally, with property offense metrics sitting in a high national safety percentile and showing a notable year-over-year improvement. This suggests a constructive trend for day-to-day property risk.
At the same time, broader violent offense measures track better than many U.S. neighborhoods but warrant ongoing monitoring. Investors should underwrite with typical urban-core assumptions, incorporating security features and lighting in common areas, and align operating plans with recent trend data from WDSuite.
Nearby corporate and industrial employers provide a diversified employment base that supports commute-friendly renter demand, including auto parts distribution, telecommunications, paper/packaging, and defense/public safety technology.
- LKQ — auto parts distribution (3.2 miles)
- Time Warner Business Class — telecommunications services (3.5 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — paper & packaging (5.4 miles)
- International Paper — paper & packaging (6.8 miles)
- Raytheon Public Safety RTC — defense & public safety tech (7.5 miles)
7551 Franklin St offers a straightforward value-add thesis in a high-cost ownership market. Neighborhood occupancy trends are strong and renter demand is supported by elevated home values, while demographic patterns within a 3-mile radius point to a larger household base with smaller sizes over time — typically favorable for multifamily leasing. According to CRE market data from WDSuite, neighborhood-level occupancy performance is competitive nationally, which can support rent growth and retention for well-positioned assets.
Built in 1975, the asset is older than much of the surrounding stock, creating potential to drive returns through selective interior updates, curb appeal, and efficiency upgrades. Investors should balance this upside against pragmatic risks such as mixed local school ratings and uneven neighborhood retail density, underwriting to sustain demand from workforce renters and commuters.
- Strong neighborhood occupancy supports leasing stability and pricing power potential.
- High-cost ownership landscape reinforces renter reliance on multifamily housing.
- 1975 vintage presents value-add upside via renovations and systems modernization.
- Commute-friendly access to diversified employers underpins workforce tenant demand.
- Risks: lower neighborhood school ratings and limited nearby retail; plan marketing and capex accordingly.