| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 42nd | Poor |
| Amenities | 30th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 621 W Wilson St, Costa Mesa, CA, 92627, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1976 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
621 W Wilson St Costa Mesa 31-Unit Multifamily
Neighborhood fundamentals point to durable renter demand and steady occupancy, according to WDSuite’s CRE market data, with a high share of renter-occupied housing and solid leasing stability in the surrounding area.
Situated in Costa Mesa’s Urban Core within the Anaheim–Santa Ana–Irvine metro, the property benefits from a renter-driven neighborhood and proximity to daily needs. Grocery access is strong (competitive nationally), and restaurants are well represented, supporting day-to-day livability for residents and positioning the asset for workforce-oriented leasing. Dedicated parks, pharmacies, and cafes are less concentrated in the immediate blocks, which may modestly temper lifestyle appeal compared with amenity-dense districts.
Leasing metrics at the neighborhood level are favorable: occupancy is above national averages and has remained resilient, reinforcing baseline stability for multifamily operators. Median asking rents in the neighborhood sit in the higher tiers for the region, while the 3‑mile median contract rent trends higher still; together this signals a market where pricing power is possible but should be paired with thoughtful lease management to navigate affordability pressure. Elevated ownership costs (high value-to-income levels) indicate a high-cost ownership market that tends to reinforce reliance on rental housing—an investor positive for depth of tenant demand.
Tenure patterns further support demand: renter-occupied housing comprises a large share of neighborhood units, indicating a broad tenant base for mid-size properties. Within a 3‑mile radius, household counts have edged higher over the past five years even as population was roughly flat to slightly lower, implying smaller average household sizes and a gradual expansion of the renter pool. Forward-looking projections show a meaningful increase in households by 2028, which would support occupancy stability and lease-up velocity for well-managed assets based on WDSuite’s commercial real estate analysis.
Vintage context: the neighborhood’s average construction year is early 1970s, and this asset was built in 1976. Being slightly newer than the local average can aid competitive positioning versus older stock, though investors should anticipate selective modernization to meet current resident expectations and sustain retention.
Safety indicators are competitive among Anaheim–Santa Ana–Irvine neighborhoods (ranked against 516 areas) and sit above the national midpoint, according to WDSuite’s data. Recent year-over-year trends show notable declines in both property and violent offense rates at the neighborhood level, indicating improvement rather than deterioration. These dynamics can support tenant retention and operational consistency, though conditions can vary by block and should be validated during diligence.
The location draws on a diverse nearby employment base that supports renter demand and short commutes, including insurance, title services, and technology. The list below highlights key employers within roughly 3–5 miles that help underpin leasing stability.
- Pacific Life — insurance (3.7 miles) — HQ
- Prudential — insurance (4.8 miles)
- First American Financial Corporation — title insurance (4.9 miles)
- First American Financial — title insurance (4.9 miles) — HQ
- Western Digital — data storage (4.9 miles) — HQ
621 W Wilson St offers a 31‑unit footprint with larger average unit sizes, positioned in a renter-heavy Costa Mesa neighborhood where occupancy trends are above national averages. Elevated home values and a high-cost ownership landscape sustain reliance on rental housing, while nearby corporate employment nodes in Newport Beach and Irvine broaden the prospective tenant pool. According to CRE market data from WDSuite, neighborhood rents sit in the upper tiers regionally, suggesting pricing power for operators who pair renewals and turns with targeted upgrades.
Built in 1976—slightly newer than the local average—the asset can compete with older stock while benefiting from select modernization to enhance retention and NOI. Within a 3‑mile radius, households have grown and are projected to increase further by 2028, indicating a larger tenant base even as average household size trends lower—factors that generally support occupancy stability for mid-size multifamily properties.
- Renter-heavy neighborhood and above-average occupancy support baseline stability.
- High-cost ownership market reinforces sustained rental demand and potential pricing power.
- Proximity to major employers (insurance, title, technology) underpins leasing and retention.
- 1976 vintage with larger average unit sizes offers a path for value through selective modernization.
- Risks: affordability pressure and mixed amenity concentration warrant careful lease and capex planning.