| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 49th | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2321 E Commonwealth Ave, Fullerton, CA, 92831, US |
| Region / Metro | Fullerton |
| Year of Construction | 1973 |
| Units | 26 |
| Transaction Date | 2001-02-16 |
| Transaction Price | $1,850,000 |
| Buyer | MCGARVEY WILLIAM J |
| Seller | LANCO EXCHANGE INC |
2321 E Commonwealth Ave Fullerton Multifamily Investment
This 26-unit property built in 1973 offers value-add potential in a neighborhood with 95.5% occupancy and strong renter demand, according to CRE market data from WDSuite.
Located in Fullerton's urban core, this neighborhood demonstrates solid fundamentals for multifamily investors. The area maintains a 95.5% occupancy rate, ranking above the metro median among 516 neighborhoods in the Anaheim-Santa Ana-Irvine region. With 51.8% of housing units occupied by renters, the neighborhood ranks in the top quartile nationally for rental housing concentration, supporting consistent tenant demand.
Demographics within a 3-mile radius show a stable tenant base with 178,200 residents and median household income of $98,710. The area attracts working professionals, with 37.2% of the population aged 35-64. Forecasts indicate household income growth to $132,186 by 2028, while renter households are projected to expand by 40.1%, creating a larger tenant pool and supporting occupancy stability.
The neighborhood offers strong amenity density with 23.8 restaurants per square mile and 2.7 grocery stores per square mile, both ranking in the top quartile nationally for convenience and tenant retention. Current median rents of $2,003 reflect the 92nd national percentile, while home values averaging $716,486 reinforce rental demand by limiting ownership accessibility for many households.
Safety metrics for this neighborhood show mixed trends that investors should monitor. Property crime rates rank 465th among 516 metro neighborhoods, indicating elevated levels compared to regional averages. However, violent crime rates perform better at the 24th national percentile, suggesting more moderate concerns for personal safety.
Recent trends show property crime increased 11.3% over the past year, while violent crime rose 28.2%. Investors should factor these safety considerations into tenant screening, property management protocols, and insurance planning when evaluating this opportunity.
The surrounding employment base includes established corporate offices within commuting distance, providing workforce stability for rental demand.
- United Technologies — aerospace & defense (3.3 miles)
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & manufacturing (9.0 miles)
- Xerox — business services (9.0 miles)
- First American Financial — financial services (11.8 miles) — HQ
This 26-unit property presents a compelling value-add opportunity in a neighborhood with demonstrated rental demand fundamentals. Built in 1973, the asset offers renovation upside potential while benefiting from neighborhood-level occupancy of 95.5% and strong renter concentration. Projected household growth of 40.1% within three miles supports expanding tenant demand, while median home values of $716,486 sustain rental housing reliance among area residents.
The urban core location provides amenity access that supports tenant retention, with restaurant and grocery density ranking nationally in the top quartile according to multifamily property research from WDSuite. Current rent levels at $2,003 median reflect strong pricing power, though investors should plan for capital improvements and monitor safety trends that may impact operations.
- High neighborhood occupancy at 95.5% indicates stable rental demand
- Value-add potential from 1973 construction with renovation upside
- Projected 40.1% household growth supports expanding tenant base
- Top quartile amenity density enhances tenant retention appeal
- Risk consideration: Property crime trends require active management oversight