| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 37th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8232 California St, Buena Park, CA, 90621, US |
| Region / Metro | Buena Park |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 1998-03-10 |
| Transaction Price | $1,015,000 |
| Buyer | WAGNER ALAN R |
| Seller | RASMUSSEN LLOYD M |
8232 California St Buena Park Multifamily Investment
This 20-unit property built in 1973 benefits from strong neighborhood-level rental demand, with 80% of local housing units occupied by renters according to CRE market data from WDSuite.
The neighborhood demonstrates solid rental fundamentals, ranking in the top quartile nationally for rental occupancy at 95.5% and maintaining 80% renter occupancy among housing units within a 516-neighborhood metro area. This rental-heavy tenure profile supports consistent demand for multifamily properties, particularly given the area's median contract rent of $1,833 and 29.3% five-year rent growth.
Built in 1973, this property aligns with the neighborhood's 1970 average construction year, indicating potential value-add opportunities through strategic renovations and unit upgrades. The surrounding area offers practical amenities including 1.37 grocery stores per square mile and strong restaurant density at 24.73 per square mile, ranking in the 97th percentile nationally for dining options that support tenant retention.
Demographics within a 3-mile radius show a stable tenant base with 186,455 residents and median household income of $99,340. Forecasts indicate household growth of 40.4% over five years, expanding the potential renter pool while median income is projected to increase 33.8% to $132,948, supporting rent growth potential and lease renewal rates.
The local housing market reflects Orange County dynamics with median home values at $633,687, reinforcing rental demand as elevated ownership costs sustain renter reliance on multifamily housing. The neighborhood's net operating income averaging $9,617 per unit ranks in the 77th percentile nationally, indicating competitive cash flow performance among similar markets.
Safety data for this specific neighborhood is not currently available in the regional crime database. Investors should conduct independent due diligence on local crime trends and consider consulting with property management companies familiar with the immediate area to assess security considerations and tenant safety perceptions.
The property benefits from proximity to established corporate offices that provide workforce housing demand, including logistics and technology companies within commuting distance.
- Time Warner Business Class — telecommunications (4.1 miles)
- LKQ — automotive parts distribution (4.4 miles)
- International Paper — packaging and manufacturing (4.7 miles)
- United Technologies — aerospace and defense (8.1 miles)
- First American Financial — financial services (13.4 miles) — HQ
This 1973-vintage property offers value-add potential through strategic renovations while benefiting from strong neighborhood rental fundamentals. The area's 95.5% occupancy rate and 80% renter tenure create stable demand dynamics, supported by five-year household growth projections of 40.4% within the 3-mile radius. Commercial real estate analysis from WDSuite indicates the neighborhood ranks in the 77th percentile nationally for net operating income per unit, suggesting competitive cash flow performance.
Orange County's elevated home values at $633,687 median reinforce rental demand as ownership costs sustain multifamily reliance. The property's 901-square-foot average unit size and established construction year present opportunities for modernization and rent optimization, particularly given the area's 29.3% five-year rent growth and projected median income increases to $132,948.
- Strong rental demand supported by 80% neighborhood renter occupancy
- Value-add potential through renovations of 1973 vintage units
- Projected 40.4% household growth expanding tenant base over five years
- Competitive NOI performance ranking 77th percentile nationally
- Risk: Older construction requires capital expenditure planning for systems and unit upgrades