| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 50th | Poor |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10342 Westminster Ave, Garden Grove, CA, 92843, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2005-09-08 |
| Transaction Price | $1,440,000 |
| Buyer | CASHION KIM QUYNH |
| Seller | NGUYEN THONG |
10342 Westminster Ave Garden Grove 24-Unit Multifamily
Neighborhood fundamentals support steady renter demand, with amenity density and a strong Orange County job base underpinning occupancy, according to WDSuite’s commercial real estate analysis. Elevated ownership costs in the area tend to sustain renter reliance on multifamily housing.
Set within an Urban Core pocket of Garden Grove, the neighborhood offers strong day-to-day convenience: restaurant and pharmacy densities rank near the top of the metro (26th and 11th out of 516 neighborhoods) and sit in the 99th national percentile, while cafes are among the metro’s best (5th of 516; top percentile nationally). Grocery access is also competitive (67th of 516; 96th percentile nationally). These amenities support leasing appeal and resident retention for multifamily assets.
Neighborhood occupancy is above the metro median and in the top quartile nationally (rank 202 of 516; 84th percentile), which has historically supported stable cash flows. The renter-occupied share of housing units is moderate at the neighborhood level (rank 262 of 516; 75th national percentile), indicating a sizable tenant base without extreme concentration—helpful for absorption and renewal dynamics.
School quality trends are favorable for family renters, with average ratings in the top quartile among Anaheim–Santa Ana–Irvine neighborhoods (107 of 516) and the 84th percentile nationally. Home values sit in the 92nd national percentile with a high value-to-income ratio (93rd percentile), a common Orange County dynamic that reinforces sustained rental demand and can support pricing power when paired with prudent lease management.
Within a 3-mile radius, recent data show slight population contraction alongside an increase in the number of households and smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability for well-run properties, particularly those positioned as practical alternatives to ownership in a high-cost ownership market.
Safety indicators are mixed but improving. The neighborhood’s overall crime rank sits closer to the higher-crime side within the Anaheim–Santa Ana–Irvine metro (106 out of 516 neighborhoods), yet it compares favorably versus many U.S. neighborhoods (64th national percentile). Recent year-over-year trends point to improvement, with both violent and property offense rates showing declines.
For investors, the takeaway is that safety is competitive nationally and trending better, while local positioning within the metro is more middle-of-the-pack. As always, underwriting should consider micro-location nuances and property-level measures that can support resident comfort and retention.
Proximity to major employers supports a deep commuter tenant base and helps leasing resilience, particularly for workforce and professional renters. Notable nearby employers include International Paper, Xerox, First American Financial, Microsoft, and Western Digital.
- INTERNATIONAL PAPER Cypress Retail Packaging — retail packaging (5.3 miles)
- Xerox — corporate offices (6.3 miles)
- First American Financial — title & financial services (6.5 miles) — HQ
- Microsoft Technology Center — technology (8.5 miles)
- Western Digital — data storage (8.7 miles) — HQ
This 24-unit Garden Grove asset benefits from neighborhood occupancy that is competitive among Anaheim–Santa Ana–Irvine submarkets and in the top quartile nationally, supported by dense amenities and access to diversified Orange County employment. Elevated home values relative to incomes indicate a high-cost ownership market, which tends to reinforce rental demand and improve renewal leverage when paired with careful affordability management. Based on CRE market data from WDSuite, rent levels relative to income are manageable at the neighborhood level, helping retention while leaving room for disciplined revenue strategies.
Within a 3-mile radius, the number of households is rising even as population edges down and household sizes shrink—conditions that typically expand the renter pool and help sustain occupancy. Amenity depth (food, pharmacy, grocery) and solid school ratings further bolster family and workforce appeal, while recent safety trends show improvement. Key risks to underwrite include modest regional population contraction and the need to compete effectively on operations and finish levels against well-amenitized Orange County product.
- Neighborhood occupancy above metro median and top quartile nationally
- High-cost ownership market supports multifamily demand and pricing power
- 3-mile household growth and smaller household sizes expand the renter pool
- Dense amenities and solid school ratings enhance retention potential
- Risks: modest regional population decline and competitive Orange County supply