| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 50th | Poor |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10500 Westminster Ave, Garden Grove, CA, 92843, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1973 |
| Units | 55 |
| Transaction Date | 2010-03-08 |
| Transaction Price | $7,100,000 |
| Buyer | LAGUNA HILLS TRAVEL LODGE LLC |
| Seller | WESSELN HENRY B |
10500 Westminster Ave, Garden Grove Multifamily Investment
High neighborhood occupancy and a deep renter base in Garden Grove support stable leasing, according to WDSuite's CRE market data.
This Urban Core pocket of Garden Grove shows durable renter demand and operating fundamentals that are competitive among Anaheim–Santa Ana–Irvine neighborhoods (ranked 246 out of 516), with neighborhood occupancy in the top quartile nationally and above the metro median. Cafes, restaurants, groceries, and pharmacies are dense for the metro, which helps sustain daily-life convenience and leasing velocity.
Amenity access is a clear strength: restaurants and pharmacies track near the 99th percentile nationally, and grocery options are also strong. Park and childcare density are limited in this specific neighborhood, which may modestly narrow family appeal, but nearby retail and services offset some of that effect for typical multifamily renter profiles.
Schools average roughly 4 of 5 and sit in the higher tiers nationally (about the 84th percentile), which can support retention for family renters. Home values are elevated for the region (around the 92nd percentile nationally), a high-cost ownership context that tends to reinforce reliance on rental housing and support pricing power for well-run assets.
Vintage matters for capital planning: the property's 1973 construction is older than the neighborhood's typical 1979 stock, pointing to potential value-add through unit and system upgrades to compete effectively against newer comparables. NOI per unit at the neighborhood level ranks in the top quartile nationally, signaling efficient operations are achievable for similar assets in this area, though results will vary by property execution.
Within a 3-mile radius, approximately 47.5% of housing units are renter-occupied today, with households projected to increase while average household size declines. That combination can expand the tenant base and support occupancy stability for multifamily, even amid modest population softening, as more, smaller households rely on rental options.
Safety indicators are mixed but improving. Compared with neighborhoods nationwide, this area trends better than average on property crime (around the 66th percentile) and closer to mid-pack on violent crime (about the 40th percentile). Within the Anaheim–Santa Ana–Irvine metro, the neighborhood's crime rank is 106 out of 516, which places it competitive with many metro peers but not in the very top tier.
Recent trends are favorable: estimated property offenses declined sharply year over year (roughly -46.9%), and violent offenses trended down as well (-15.4%). While conditions can vary block to block, these directional improvements support a more constructive backdrop for renter retention and operations over the underwriting horizon.
Proximity to diverse corporate offices underpins a broad employment base and commuter convenience that supports renter demand and renewal stability. Notable nearby employers include International Paper, Xerox, First American Financial, Microsoft Technology Center, and Western Digital.
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & retail solutions (5.35 miles)
- Xerox — business services (6.14 miles)
- First American Financial — title insurance & data (6.36 miles) — HQ
- Microsoft Technology Center — technology offices (8.38 miles)
- Western Digital — data storage & technology (8.67 miles) — HQ
10500 Westminster Ave offers investors exposure to a high-demand Orange County location where neighborhood occupancy trends sit in the top quartile nationally and above metro medians, supporting income stability. Elevated home values relative to incomes sustain reliance on rentals, while within 3 miles a sizable share of units are renter-occupied and household counts are expected to rise as household sizes trend smaller—expanding the tenant base and supporting leasing durability.
Built in 1973, the asset is older than nearby stock on average, creating clear value-add opportunity through interior updates and systems modernization to compete against newer inventory. Based on commercial real estate analysis from WDSuite, the area's strong amenity density and top-quartile neighborhood NOI per unit indicate potential to drive efficient operations, balanced by practical risk considerations such as limited parks/childcare, mixed safety positioning within the metro, and modest population softening in the near term.
- High neighborhood occupancy and top-quartile operating profile support stable cash flows
- Elevated ownership costs in the area reinforce multifamily rental demand and pricing power
- 1973 vintage provides value-add and modernization upside versus newer comparables
- Risks: limited parks/childcare, mixed safety ranking within the metro, and modest population softening