| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 50th | Poor |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10542 Westminster Ave, Garden Grove, CA, 92843, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1976 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10542 Westminster Ave Garden Grove Multifamily Investment
This 36-unit property built in 1976 benefits from neighborhood occupancy at 97% and strong rental demand fundamentals. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for net operating income per unit at $14,090.
Located in Garden Grove's urban core, this neighborhood demonstrates solid fundamentals for multifamily investors. The area ranks 246th among 516 metro neighborhoods with a B rating, placing it above the metro median. Neighborhood-level occupancy stands at 97%, ranking in the 84th percentile nationally, indicating strong tenant retention and minimal vacancy pressure.
The property's 1976 construction year aligns with the neighborhood average of 1979, suggesting opportunities for value-add renovations and modernization to capture higher rents. Current median contract rents of $2,052 have grown 23.3% over five years, reflecting sustained pricing power. With 36.2% of housing units renter-occupied, the area maintains consistent rental demand.
Demographics within a 3-mile radius show a stable tenant base with 244,838 residents and median household income of $86,232. Forecasts project household income growth to $121,346 by 2028, supporting rent growth potential. The rent-to-income ratio of 0.26 indicates manageable affordability levels for tenant retention. High home values at $678,370 median sustain rental demand by limiting ownership accessibility for many households.
The neighborhood benefits from exceptional amenity density, ranking 5th metro-wide for cafes per square mile and 67th for grocery stores. Restaurant density ranks 26th among metro neighborhoods, enhancing tenant appeal. However, childcare facilities are limited, ranking last metro-wide, which may affect family tenant attraction.
Property crime rates in this neighborhood rank 79th among 516 metro neighborhoods, placing it in the 66th percentile nationally for safety. More encouragingly, property offense rates declined 46.9% over the past year, ranking in the 86th percentile nationally for crime reduction trends.
Violent crime rates show moderate levels at 58.3 incidents per 100,000 residents, ranking 246th metro-wide and 40th percentile nationally. However, violent crime has decreased 15.4% year-over-year, indicating improving conditions that support tenant retention and property appeal.
The property benefits from proximity to major corporate employers within Orange County's employment corridor, providing workforce housing opportunities for professional tenants.
- INTERNATIONAL PAPER Cypress Retail Packaging — manufacturing and packaging (5.4 miles)
- Xerox — technology services (6.1 miles)
- First American Financial Corporation — financial services (6.3 miles) — HQ
- Microsoft Technology Center — technology (8.3 miles)
- Western Digital — technology hardware (8.6 miles) — HQ
This 36-unit Garden Grove property offers compelling value-add potential in a neighborhood demonstrating strong occupancy fundamentals. The 1976 construction year presents renovation opportunities to capture higher rents, while neighborhood-level occupancy at 97% indicates minimal vacancy risk. Commercial real estate analysis shows the area ranking in the top quartile nationally for net operating income per unit, reflecting solid operating performance among comparable properties.
Demographic projections within the 3-mile radius show household income growth from $86,232 to $121,346 by 2028, supporting future rent increases. The forecasted 30.4% increase in total households expands the potential tenant base, while elevated home values at $678,370 median sustain rental demand by limiting ownership competition. However, investors should consider the limited childcare amenities and plan for capital improvements given the property's age.
- High occupancy neighborhood at 97% indicates strong tenant retention
- Value-add renovation potential with 1976 construction year
- Projected 40.7% household income growth supports rent increases
- Proximity to major employers including First American Financial and Western Digital
- Risk: Limited childcare amenities may reduce appeal to family tenants