| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 40th | Poor |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1975 Pomona Ave, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1973 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1975 Pomona Ave Costa Mesa Multifamily Investment
This 22-unit property benefits from strong neighborhood-level occupancy at 97.1% and robust renter demand in an area where 80.6% of housing units are renter-occupied, according to CRE market data from WDSuite.
Located in Costa Mesa's Urban Core neighborhood, this property sits in an area ranking in the top quartile nationally for amenities and housing fundamentals. The neighborhood achieves a 97.1% occupancy rate with strong rental tenure, where 80.6% of housing units are renter-occupied—ranking 15th among 516 metro neighborhoods and placing in the 99th percentile nationally for rental share.
Built in 1973, this property predates the neighborhood's average construction year of 1986, presenting potential value-add opportunities through strategic renovations and unit improvements. Demographics within a 3-mile radius show a mature renter base with median household income of $128,410, supporting sustainable rental demand. The area benefits from exceptional amenity density, ranking in the 92nd percentile nationally with abundant dining, retail, and service options that enhance tenant appeal.
Current median contract rents in the neighborhood reach $1,863, with 5-year growth of 25.8%. Home values averaging $816,058 with 43.3% appreciation over five years reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing. Projected household growth of 30.8% through 2028 and rising median rents to $3,432 indicate expanding tenant pools and pricing power potential for well-positioned properties.
Crime metrics show mixed signals that warrant monitoring. Property crime rates rank 454th among 516 metro neighborhoods, placing in the 8th percentile nationally, indicating elevated property crime levels compared to other areas. However, recent trends show improvement with property crime declining 46.9% year-over-year, ranking in the 86th percentile nationally for crime reduction.
Violent crime rates are more moderate at 189.6 incidents per 100,000 residents, ranking in the 21st percentile nationally. Similar to property crime, violent incidents have decreased significantly by 53.2% over the past year, demonstrating positive momentum in neighborhood safety trends. Investors should consider these improving crime trajectories alongside other risk management factors when evaluating tenant retention and property management strategies.
The property benefits from proximity to major corporate employers that provide stable workforce housing demand, including Pacific Life's headquarters and several technology companies within commuting distance.
- Pacific Life — insurance headquarters (3.5 miles) — HQ
- Prudential — financial services (5.2 miles)
- Western Digital — technology headquarters (5.3 miles) — HQ
- First American Financial Corporation — financial services (5.5 miles)
- Microsoft Technology Center — technology offices (5.6 miles)
This 1973-vintage property presents a compelling value-add opportunity in Costa Mesa's high-demand rental market. With neighborhood occupancy at 97.1% and 80.6% of area housing units renter-occupied, fundamentals support stable cash flows and lease-up velocity. The property's construction year provides renovation upside potential to capture higher rents as the market projects median contract rents rising to $3,432 by 2028.
Strong demographic projections show household growth of 30.8% through 2028 within the 3-mile radius, expanding the tenant base while elevated home values sustain rental demand. According to multifamily property research from WDSuite, the neighborhood ranks in the top quartile nationally for amenities and housing metrics, supporting tenant retention and competitive positioning.
- Exceptional rental market fundamentals with 97.1% neighborhood occupancy and 99th percentile rental tenure
- Value-add renovation potential with 1973 construction predating neighborhood average by 13 years
- Projected 30.8% household growth through 2028 supporting tenant demand expansion
- Elevated crime levels require enhanced security measures and tenant screening protocols