| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 50th | Poor |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10432 Westminster Ave, Garden Grove, CA, 92843, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1978 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10432 Westminster Ave Garden Grove Multifamily Investment
This 22-unit property benefits from strong neighborhood occupancy at 97% and above-market NOI per unit performance. Commercial real estate analysis indicates stable rental demand in an established Orange County location with proximity to major corporate employers.
Garden Grove's Westminster Avenue corridor represents an established urban core neighborhood within Orange County's Anaheim-Santa Ana-Irvine metro area. The neighborhood ranks in the top quartile nationally for amenity density, with exceptional restaurant and cafe access that supports tenant retention and lifestyle appeal. Demographics within a 3-mile radius show a stable renter base with 47.6% of housing units occupied by renters, providing consistent demand for multifamily properties.
The area demonstrates solid fundamentals with a 97% neighborhood occupancy rate, ranking above metro median among 516 neighborhoods. Median household income of $94,606 has grown 41.5% over five years, while contract rents have increased 23.3% to $2,052 monthly. This income growth trajectory supports rental pricing power and lease renewal stability for investors.
Built in 1978, this property aligns with the neighborhood's average construction vintage of 1979, indicating potential value-add opportunities through strategic renovations and unit upgrades. The area's NOI per unit average of $14,090 ranks in the 93rd percentile nationally, demonstrating strong income-generating potential. Schools average 4.0 out of 5 rating, ranking in the 84th percentile nationally, which attracts family-oriented renters seeking quality educational options.
Forward-looking demographics project household income growth to $121,179 by 2028, a 41% increase that should support continued rental demand. The forecast shows renter-occupied units expanding to 47.9% of total housing stock, reinforcing the multifamily investment thesis in this established Orange County submarket.
The Westminster Avenue neighborhood demonstrates competitive safety metrics relative to the broader metro area. Property crime rates have declined significantly, falling 46.9% over the past year and ranking in the 86th percentile nationally for crime reduction trends. Current property offense rates rank above metro median among 516 neighborhoods in the region.
Violent crime rates place the area in the middle tier of Orange County neighborhoods, with recent trends showing a 15.4% decline year-over-year. These improving safety metrics support tenant retention and can positively influence lease renewal rates for multifamily investors focused on operational stability.
The Westminster Avenue location provides convenient access to major Orange County corporate employers, supporting consistent workforce housing demand from professional tenants.
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging and manufacturing (5.3 miles)
- Xerox — technology services (6.2 miles)
- First American Financial Corporation — financial services (6.4 miles) — HQ
- Microsoft Technology Center — technology offices (8.4 miles)
- Western Digital — technology manufacturing (8.7 miles) — HQ
This 22-unit Garden Grove property offers investors exposure to a stable Orange County multifamily market with strong operational fundamentals. According to CRE market data from WDSuite, the neighborhood maintains 97% occupancy while generating above-market NOI per unit performance in the 93rd percentile nationally. The 1978 construction vintage presents value-add potential through strategic renovations, while proximity to major employers like First American Financial and Western Digital supports consistent workforce housing demand.
Demographics within a 3-mile radius show household income growth of 41.5% over five years, with projections indicating continued expansion to $121,179 by 2028. The renter-occupied share of 47.6% provides a stable tenant base, while improving safety metrics and strong school ratings support family-oriented renters. However, investors should monitor the rent-to-income ratio trends and potential competition from ownership options as the market evolves.
- Strong neighborhood occupancy at 97% ranking above metro median
- NOI per unit performance in 93rd percentile nationally at $14,090
- Proximity to major Orange County employers supporting workforce housing demand
- Value-add renovation potential with 1978 vintage aligned to neighborhood average
- Risk consideration: Monitor rent-to-income ratios and ownership competition trends