| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 70th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1838 Placentia Ave, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1838 Placentia Ave Costa Mesa Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and occupancy that tracks above national norms, according to WDSuite's CRE market data. This location offers stable in-place tenancy dynamics for small to mid-size assets in Orange County.
Located in Costa Mesa's Urban Core, the property benefits from a renter-occupied concentration that ranks in the top quartile among 516 Anaheim–Santa Ana–Irvine neighborhoods, indicating depth in the tenant base and support for leasing velocity. Neighborhood occupancy trends sit above national averages while positioning mid-pack locally, suggesting steady performance with room for asset-level differentiation.
Daily needs are well served: grocery and pharmacy access rank among the very best in the metro (both near the top of 516 neighborhoods) and score at the top of national percentiles, supporting resident convenience and retention. Cafes and restaurants also index competitively (top quartile in the metro), reinforcing lifestyle appeal that helps sustain renter demand.
Home values in the neighborhood are elevated versus national benchmarks, and median incomes are high. In this high-cost ownership market, multifamily assets typically see reinforced rental demand and pricing power potential, while lease management should still monitor rent-to-income positioning, which sits relatively favorable by national comparison.
Within a 3-mile radius, demographics show a modest population dip in recent years but a projected near-term pickup alongside an increase in households and a declining average household size. This combination points to a larger pool of smaller households entering the market, a configuration that generally supports multifamily absorption and occupancy stability.
The property's 1973 vintage is older than the neighborhood's average construction year, which implies near- to medium-term capital planning and creates potential value-add upside through interior modernization and system upgrades to compete effectively against newer stock.
Safety indicators are around the national middle overall, based on CRE market data from WDSuite. Property crime has been elevated by national comparison but shows a pronounced year-over-year improvement, and violent crime levels sit below national medians with similar recent improvement. For investors, the directional trend is constructive, though underwriting should account for submarket variations within the broader Anaheim–Santa Ana–Irvine area of 516 neighborhoods.
Proximity to major corporate offices supports a strong employment base and commute convenience for renters. Notable nearby employers include Pacific Life, Prudential, Western Digital, First American Financial, and Microsoft.
- Pacific Life — insurance (3.5 miles) — HQ
- Prudential — financial services (5.5 miles)
- Western Digital — data storage technology (5.7 miles) — HQ
- First American Financial — title & insurance (5.9 miles) — HQ
- Microsoft Technology Center — technology offices (5.9 miles)
This 20-unit, 1973-vintage asset in Costa Mesa sits within a renter-heavy neighborhood where occupancy trends are solid nationally and competitive locally. Elevated ownership costs in the area, paired with strong household incomes, tend to reinforce reliance on multifamily housing and support pricing power when units are well maintained and positioned.
According to CRE market data from WDSuite, the surrounding neighborhood posts high amenity access and a sizable renter-occupied share, while 3-mile demographics point to growth in households and smaller household sizes over the next few years. For investors, this suggests a stable tenant base with opportunities to capture demand through thoughtful renovations and active lease management, while monitoring safety trends and capital needs typical of older construction.
- Renter-heavy neighborhood supports depth of tenant base and steady leasing
- Elevated ownership costs bolster multifamily demand and potential pricing power
- 3-mile outlook shows household growth and smaller household sizes, aiding absorption
- 1973 vintage offers value-add potential via interior refresh and system upgrades
- Risks: safety metrics improving but mixed; older vintage implies ongoing capex planning