| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Poor |
| Demographics | 57th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12891 Sycamore St, Garden Grove, CA, 92841, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1973 |
| Units | 76 |
| Transaction Date | 2018-12-12 |
| Transaction Price | $6,000,000 |
| Buyer | SUN CHIA WU |
| Seller | CHIN YEN KUNG YUN |
12891 Sycamore St, Garden Grove Multifamily Value-Add
Neighborhood occupancy has remained resilient with a solid renter base, according to WDSuite’s CRE market data, suggesting stable leasing fundamentals for well-managed assets in this part of Orange County. Positioning an older asset toward today’s renter preferences can capture demand supported by strong daily amenities and commuting access.
Garden Grove’s Urban Core setting offers strong daily convenience: high densities of restaurants, groceries, and pharmacies place the area in the upper range nationally for essential and lifestyle amenities. This supports renter retention by reducing commute time for errands and services, and it differentiates the location within the Anaheim–Santa Ana–Irvine metro as competitive among 516 neighborhoods based on overall neighborhood rank.
Neighborhood occupancy is in the upper national range and has been broadly stable, which can help underpin income consistency at professionally operated properties. Median contract rents in the surrounding area trend above many U.S. neighborhoods while the rent-to-income ratio sits in the mid-20s, a mix that typically supports lease retention and measured pricing power rather than volatility.
Construction in the neighborhood skews newer than the subject’s 1973 vintage (average year 1989). For investors, the older vintage points to capex planning and selective renovations as a path to defensibility and potential value-add, especially against newer comparables that may command premiums. Renter-occupied share at the neighborhood level is in the higher range for the metro, indicating a meaningful tenant base that supports multifamily demand depth and ongoing leasing velocity.
Within a 3-mile radius, households have grown even as average household size trends lower, and forecasts call for a notable increase in households by 2028. This suggests a larger tenant base and continued demand for well-located rentals, which can support occupancy stability and absorption for refreshed units. Median home values are elevated for many would-be owners in Orange County, reinforcing renter reliance on multifamily housing and supporting retention for appropriately positioned product.
Amenities are a clear strength: restaurant and grocery densities rank near the top nationally, contributing to daily convenience and lifestyle appeal. A relative gap is park acreage in the immediate vicinity, which may temper open-space access but can be mitigated by on-site common areas or proximity to regional parks accessible by short drives.
Safety indicators present a mixed but improving picture. The neighborhood is roughly around the national middle on overall crime exposure, according to WDSuite’s data. Property and violent incident rates sit below national medians for safety, yet both have shown meaningful year-over-year improvement, with declines in estimated incident rates over the past year. For investors, this trajectory suggests risk management remains important, but recent trends are moving in a favorable direction relative to broader national patterns.
Within the Anaheim–Santa Ana–Irvine metro, the area compares as neither a clear outlier on risk nor a top performer; operators typically focus on lighting, access control, and active management to sustain leasing and tenant retention. As with any submarket, performance tends to be asset- and block-specific, so underwriting should reflect on-site security measures and property-level operations.
Nearby employers span packaging, telecom, technology/printing, financial services, and auto parts distribution—diverse industries that support a broad renter base and commute convenience for workforce housing in this Garden Grove location.
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (2.7 miles)
- Time Warner Business Class — telecom (7.7 miles)
- Xerox — technology/printing (8.8 miles)
- First American Financial — financial services (9.0 miles) — HQ
- LKQ — auto parts distribution (9.8 miles)
12891 Sycamore St offers scale at 76 units in an amenity-rich Orange County location where neighborhood occupancy trends are steady and renter demand is supported by a sizable tenant base. The property’s 1973 vintage is older than the neighborhood average, creating a straightforward value-add path: targeted interior and systems updates can improve competitive positioning versus 1980s–2000s stock while supporting rent growth through improved finishes and energy efficiency. According to CRE market data from WDSuite, neighborhood-level NOI per unit trends sit in the upper national range, and strong restaurant, grocery, and pharmacy access reinforce day-to-day livability that helps retention.
Within a 3-mile radius, households have increased and are projected to rise further as average household size declines, pointing to renter pool expansion and sustained absorption for well-managed assets. Elevated ownership costs in Orange County tend to reinforce reliance on rental housing, which can support occupancy and lease duration when combined with responsive management. Key watch items include capital planning consistent with a 1970s asset, block-level safety management, and the relative lack of immediate park space—operational considerations that can be addressed through on-site improvements and programming.
- Stable neighborhood occupancy and deep renter base support income consistency
- 1973 vintage presents clear value-add and modernization upside versus newer comps
- Amenity-rich location (restaurants, groceries, pharmacies) aids retention and leasing
- Household growth within 3 miles signals renter pool expansion and demand support
- Risks: capex for older systems, block-level safety management, limited immediate park space