| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 85th | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 Baker St, Costa Mesa, CA, 92626, US |
| Region / Metro | Costa Mesa |
| Year of Construction | 1977 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
840 Baker St, Costa Mesa Multifamily Investment
High renter concentration and a high-cost ownership landscape point to durable renter demand at the neighborhood level, according to WDSuite’s CRE market data. Neighborhood occupancy trends are in the national upper-mid range, supporting stable leasing conditions.
Costa Mesa’s Urban Core location offers strong day-to-day convenience for renters. Restaurant density ranks among the highest nationally (99th percentile), and grocery access is also robust (96th percentile), which helps with resident retention and leasing velocity. Parks score similarly well (96th percentile), adding recreational appeal for tenants.
Neighborhood occupancy is in the 64th percentile nationally, indicating generally steady performance across comparable U.S. areas. Within the Anaheim–Santa Ana–Irvine metro’s 516 neighborhoods, the renter-occupied share is notably high (96th percentile nationally), signaling a deep tenant base and consistent demand for multifamily product.
Home values in the neighborhood sit at elevated levels (97th percentile nationally) with a value-to-income ratio in the 95th percentile, a combination that reinforces reliance on rental housing and supports pricing power for well-positioned assets. Rent-to-income sits near the lower-middle range nationally, suggesting manageable affordability pressure relative to many coastal peers—useful for lease management and renewals.
Within a 3-mile radius, demographics show a recent period of soft population trends but slight household growth, with forecasts indicating renewed population and household expansion over the next five years. This points to a larger tenant base over time, which can support occupancy stability and absorption for professionally managed multifamily.
Safety indicators trend near the national middle overall (54th percentile nationally), placing the neighborhood roughly in line with broader U.S. benchmarks. Within the Anaheim–Santa Ana–Irvine metro’s 516 neighborhoods, the area sits around the middle of the pack.
Property crime levels are elevated versus national norms (low national percentile), but year-over-year estimates indicate a sharp decline, and violent offense rates also show a pronounced one-year improvement. Investors should underwrite security measures and loss-prevention practices while recognizing the improving trajectory.
Nearby employers span financial services, technology, and corporate offices, offering strong commuter access that can underpin renter demand and retention for workforce-oriented units. The list below reflects the closest anchors likely to influence leasing.
- First American Financial Corporation — financial services corporate offices (2.34 miles)
- First American Financial — title insurance corporate offices (2.37 miles) — HQ
- Prudential — financial services corporate offices (2.82 miles)
- Microsoft Technology Center — technology center (3.05 miles)
- Western Digital — data storage corporate offices (3.05 miles) — HQ
This 42-unit asset serves a renter-heavy neighborhood where elevated ownership costs reinforce reliance on multifamily. Neighborhood occupancy is in the 64th percentile nationally, and the renter-occupied share ranks among the highest nationwide, supporting depth of demand and lease-up resilience. Within a 3-mile radius, forecasts point to population and household growth, expanding the tenant base. According to CRE market data from WDSuite, local amenities—particularly restaurants, groceries, and parks—are strong, a combination that typically supports retention.
Built in 1977, the property may benefit from targeted capital improvements and value-add programming to stay competitive against newer product. Smaller average unit sizes suggest efficient layouts that can maintain attainable effective rents in a high-cost ownership market, though operators should balance pricing power with affordability pressure and monitor local safety trends that, while improving, still warrant attention.
- Renter-heavy neighborhood supports durable multifamily demand and leasing stability
- Elevated home values reinforce reliance on rentals and potential pricing power
- Strong amenity access (restaurants, groceries, parks) aids tenant retention
- 1977 vintage offers value-add potential through selective renovations
- Risks: affordability pressure, mid-pack occupancy in metro context, and safety considerations despite recent improvement