| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 54th | Fair |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10642 Bolsa Ave, Garden Grove, CA, 92843, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1973 |
| Units | 78 |
| Transaction Date | 2017-01-13 |
| Transaction Price | $13,200,000 |
| Buyer | --- |
| Seller | --- |
10642 Bolsa Ave Garden Grove Multifamily Investment
This 78-unit property built in 1973 sits in an urban core neighborhood with strong rental demand fundamentals, supported by a 49% renter-occupied housing stock and neighborhood-level occupancy of 94% according to CRE market data from WDSuite.
Located in Garden Grove's urban core, this neighborhood demonstrates solid multifamily fundamentals with 94% occupancy rates and a median contract rent of $2,526. The area ranks in the 63rd percentile nationally for occupancy stability, positioning above many comparable metro neighborhoods among Orange County's 516 tracked areas.
The housing tenure split shows 49% of units are renter-occupied, creating a substantial tenant base within a 3-mile radius encompassing over 230,000 residents. Demographic projections indicate household growth of 33% through 2028, with the renter pool expanding as median household incomes rise to $124,820. This growth supports sustained rental demand as elevated home values at $708,510 median reinforce renter reliance on multifamily housing.
Built in 1973, the property aligns with the neighborhood's average construction vintage, presenting potential value-add opportunities through strategic renovations and unit improvements. The area benefits from strong amenity density, ranking in the 94th percentile nationally for cafe access and 99th percentile for pharmacy availability, supporting tenant retention through walkable convenience.
Schools average 4.0 out of 5 stars, placing the neighborhood in the 84th percentile nationally for educational quality. This academic strength, combined with the area's urban core designation and transit accessibility, attracts stable renter demographics including families and working professionals seeking quality housing options.
Safety metrics show mixed performance relative to the broader Orange County region. Property crime rates of 450 per 100,000 residents place the neighborhood around the 39th percentile nationally, indicating moderate levels compared to similar urban core areas. Violent crime rates at 158 per 100,000 residents rank in the 24th percentile nationally, suggesting room for improvement in this category.
Both property and violent crime rates have shown recent increases of 4% and 12% respectively over the past year, reflecting broader regional trends. Investors should consider these safety dynamics as part of tenant retention strategies and property management protocols, while recognizing that urban core locations often experience higher baseline crime rates due to population density and commercial activity.
The surrounding employment corridor features major corporate offices within commuting distance, supporting workforce housing demand from professional tenants seeking convenient access to Orange County's business centers.
- First American Financial Corporation — financial services (5.6 miles)
- First American Financial — financial services headquarters (5.6 miles) — HQ
- Xerox — technology services (5.9 miles)
- Microsoft Technology Center — technology offices (7.6 miles)
- Western Digital — technology headquarters (7.8 miles) — HQ
This Garden Grove property offers stable cash flow potential through strong occupancy fundamentals and growing renter demand. With neighborhood-level occupancy at 94% and contract rents at $2,526 median, the asset benefits from Orange County's constrained housing supply and elevated ownership costs that sustain rental demand. The 1973 construction year presents value-add opportunities through strategic unit improvements and common area enhancements.
Demographic trends support long-term rental demand, with household growth projected at 33% through 2028 and rising median incomes strengthening tenant quality. According to commercial real estate analysis from WDSuite, the neighborhood's urban core location and strong amenity access create competitive advantages for tenant retention and lease renewals.
- Strong occupancy fundamentals with 94% neighborhood-level rates above metro averages
- Value-add potential through strategic renovations of 1973-vintage units
- Growing renter pool supported by 33% projected household growth through 2028
- Risk consideration: Recent increases in both property and violent crime rates require active management attention