| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 38th | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13171 Monroe St, Garden Grove, CA, 92844, US |
| Region / Metro | Garden Grove |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2019-05-14 |
| Transaction Price | $6,200,000 |
| Buyer | MONROE GARDENS WATERFORD INVESTORS LLC |
| Seller | MONROE GARDENS APARTMENTS LLC |
13171 Monroe St Garden Grove 24‑Unit Multifamily
Neighborhood occupancy is high with a deep renter base, supporting stable cash flow potential according to WDSuite’s CRE market data. Elevated ownership costs in Orange County further reinforce renter demand, while affordability pressures warrant careful lease management.
Located in Garden Grove’s Urban Core, the property sits in a renter-driven area where the share of housing units that are renter-occupied is substantial (about two-thirds). For investors, that depth of renter concentration supports a larger tenant base and steadier leasing activity than owner-heavy pockets of the metro, according to WDSuite’s CRE market data. Neighborhood occupancy is strong and has edged up in recent years, which typically benefits renewal rates and pricing discipline during turns.
Local daily-needs access is favorable: grocery and pharmacy density track above national norms, and childcare availability is strong (nationally high percentile). Restaurant density ranks among the stronger pockets nationally, while parks and cafes are thinner in the immediate area. The average school rating trends below the national median, which can modestly influence unit mix performance for family-oriented demand but does not preclude stable absorption given broader workforce housing needs.
Home values are elevated for the neighborhood relative to national benchmarks, and the value-to-income ratio sits near the top of national ranges. In practical terms, this is a high-cost ownership market, which tends to sustain renter reliance on multifamily housing and can support occupancy stability. At the same time, rent-to-income ratios indicate some affordability pressure for renters, suggesting that operators should emphasize retention, renewal incentives aligned with income growth, and expense control.
Within a 3-mile radius, household counts have risen even as population edged lower in the last five years, pointing to smaller household sizes and diversified renter profiles. Forecasts show households and incomes increasing, which expands the local renter pool and supports ongoing demand for quality managed apartments.
Vintage and asset positioning: Built in 1979, the asset is slightly older than the neighborhood average construction year. That vintage often benefits from targeted capex—exterior refresh, systems modernization, and select interior upgrades—to defend competitiveness against newer product while capturing value‑add upside where feasible.
Safety indicators compare favorably to national norms overall, with the neighborhood trending above the national median on composite crime measures. According to WDSuite’s CRE market data, estimated violent and property offense rates have declined year over year, an encouraging directional signal for investors focused on tenant retention and leasing velocity.
At the metro level (Anaheim–Santa Ana–Irvine; 516 neighborhoods total), safety performance varies by subarea, and this location is competitive versus many peer neighborhoods but not among the very top-performing pockets of Orange County. Framing safety in comparative terms and tracking the improving trend can help inform marketing, security, and community engagement strategies without overreaching on block-level claims.
Nearby employers provide a broad white‑collar and industrial base that supports weekday traffic and renter demand, notably in packaging, telecom, business services, and technology. The selections below emphasize commute‑convenient nodes that can underpin leasing stability.
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (3.1 miles)
- Time Warner Business Class — telecom (8.1 miles)
- Xerox — business services (8.5 miles)
- First American Financial — title & insurance (8.7 miles) — HQ
- Western Digital — data storage & technology (10.9 miles) — HQ
13171 Monroe St offers exposure to a high‑occupancy, renter‑concentrated neighborhood within Orange County, where elevated ownership costs sustain multifamily demand and support lease‑up and renewal stability. Built in 1979, the asset’s vintage points to clear value‑add pathways—select interior updates and systems modernization—to strengthen competitive positioning versus newer stock while managing capex to ROI. According to CRE market data from WDSuite, neighborhood occupancy remains above national norms, with restaurant and daily‑needs access supportive of day‑to‑day livability.
Investor focus should balance these strengths with measured risks: rent‑to‑income levels indicate affordability pressure that calls for disciplined revenue management, while school ratings below national medians may modestly influence family demand. Demographic trends within a 3‑mile radius—rising household counts and projected income gains—suggest a larger tenant base over the medium term, aligning with steady absorption for well‑managed workforce housing.
- High neighborhood occupancy and strong renter concentration support stable leasing
- Elevated home values locally reinforce reliance on rentals, aiding pricing power
- 1979 vintage offers value‑add potential through targeted renovations and systems upgrades
- Daily‑needs access (groceries, pharmacies, childcare) and strong restaurant density support livability
- Risk: rent‑to‑income pressure and below‑median school ratings warrant careful lease and unit‑mix strategy