| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 42nd | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1819 Monrovia Ave, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1972 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1819 Monrovia Ave, Costa Mesa Multifamily Investment
Neighborhood occupancy is in the top quartile nationally and has trended up, supporting stable cash flow potential, according to WDSuite’s CRE market data. This Inner Suburb location in Costa Mesa pairs deep renter demand with everyday amenities that help sustain lease-up and retention.
Costa Mesa’s Inner Suburb setting offers an amenity-rich backdrop that supports renter appeal: grocery, dining, cafes, and pharmacies score in the mid‑90s by national percentile, and the area is competitive among Anaheim–Santa Ana–Irvine neighborhoods for overall amenities (rank 172 of 516). Limited nearby parks and childcare options are notable gaps investors should weigh against the otherwise strong daily convenience.
Renter concentration is high at the neighborhood level, with a large share of housing units renter‑occupied (near the 97th national percentile). This depth of renter households typically underpins demand for properties of this size and vintage, helping support occupancy stability through cycles.
Built in 1972, the property is slightly newer than the neighborhood’s average 1966 stock. That positioning can be competitive versus older buildings while still leaving room for targeted modernization or system upgrades to drive value‑add returns and reduce near‑term capital surprises.
Within a 3‑mile radius, recent years show modest population softening but a small increase in households, with projections pointing to further household growth through 2028. A larger household base implies a broader tenant pool and supports leasing fundamentals. Median incomes in the 3‑mile area are high and have grown meaningfully, reinforcing capacity to pay, though neighborhood rent levels sit in the low‑90s national percentile and the rent‑to‑income profile indicates some affordability pressure that may require thoughtful lease management.
Ownership costs sit around national midpoints by value‑to‑income measures, suggesting some competition from for‑sale options; however, the high share of renter‑occupied units and strong neighborhood occupancy (92nd national percentile for occupancy) indicate durable multifamily demand. Average school ratings are below national norms, which can influence unit mix strategy and marketing but does not preclude steady workforce demand, especially given proximity to employment centers and daily services. These dynamics are based on WDSuite’s commercial real estate analysis for the neighborhood and 3‑mile context.
Safety indicators are mixed when viewed against both the metro and the nation. The neighborhood’s overall crime positioning is competitive among Anaheim–Santa Ana–Irvine neighborhoods (rank 177 of 516), and around average compared with neighborhoods nationwide (58th national percentile).
Property crime levels are higher than national norms (around the lower national percentiles), but recent year‑over‑year trends show meaningful improvement, with both property and violent offense rates declining at a pace that ranks in the stronger improvement tiers nationally. Violent offense levels are near national averages. Investors should underwrite with prudent security, lighting, and access‑control assumptions while recognizing the improving trajectory.
Nearby corporate offices help anchor weekday demand and support retention via short commutes, notably in insurance, technology, data storage, and enterprise software. Key employers include Pacific Life, Prudential, Western Digital, First American Financial, and Microsoft Technology Center.
- Pacific Life — insurance (3.7 miles) — HQ
- Prudential — insurance (5.8 miles)
- Western Digital — data storage (5.9 miles) — HQ
- First American Financial — title and settlement services (6.1 miles) — HQ
- Microsoft Technology Center — enterprise software (6.2 miles)
The investment case centers on durable renter demand, strong neighborhood occupancy, and proximity to Orange County’s employment anchors. Based on CRE market data from WDSuite, the neighborhood posts top‑quartile occupancy nationally with a high renter concentration, while amenity access supports day‑to‑day livability. Built in 1972, the asset is slightly newer than the neighborhood average, suggesting a path for focused value‑add upgrades to enhance competitiveness against older stock.
Three‑mile demographics indicate rising household counts over the forecast horizon, pointing to a broader tenant base and support for leasing. Elevated rent levels and a tighter rent‑to‑income profile warrant careful pricing and renewal strategies, and below‑average school ratings plus higher‑than‑average property crime levels are underwriting considerations; however, recent safety trends are improving and the nearby corporate presence provides a steady commuter renter pool.
- High neighborhood occupancy and deep renter base support income stability
- 1972 vintage offers value‑add modernization potential versus older local stock
- Amenity‑rich Inner Suburb location near major employers aids retention
- Forecast household growth within 3 miles broadens the tenant pool
- Risks: affordability pressure, weaker school ratings, and higher property crime levels despite improving trends