| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 70th | Good |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16038 Springdale St, Huntington Beach, CA, 92649, US |
| Region / Metro | Huntington Beach |
| Year of Construction | 1989 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
16038 Springdale Street Huntington Beach Multifamily Investment
This 61-unit property from 1989 benefits from neighborhood-level occupancy at 97.4% and strong rental demand fundamentals. According to CRE market data from WDSuite, the area demonstrates above-average NOI per unit performance at $13,872.
This Huntington Beach neighborhood ranks in the top quartile among 516 metro neighborhoods for NOI per unit performance, with median rents of $1,973 representing 91st percentile nationally. The area maintains a 97.4% occupancy rate with 32% of housing units renter-occupied, supporting consistent rental demand. Demographics within a 3-mile radius show median household income of $108,536 with projected growth to $141,329 by 2028, indicating a strengthening renter pool.
The 1989 construction year aligns with the neighborhood average of 1967, suggesting opportunities for value-add improvements and modernization to capture higher rents. Home values averaging $1.08 million create elevated ownership costs that reinforce rental demand, with the rent-to-income ratio at 0.18 supporting affordability for tenants. The area features strong amenity density with 4 grocery stores and 2 cafes per square mile, ranking in the 93rd and 94th percentiles nationally for retail access.
School ratings average 4.0 out of 5, ranking in the 84th percentile nationally, which supports family tenant retention. The neighborhood earned a B+ overall rating and demonstrates stable demographic trends with household growth projected at 24% through 2028, expanding the potential tenant base for multifamily properties.
The neighborhood demonstrates competitive safety metrics with violent crime rates ranking 26th among 516 metro neighborhoods, placing it in the 87th percentile nationally. Property crime rates rank 29th in the metro area, representing the 85th percentile compared to neighborhoods nationwide. While property crime showed a notable increase over the past year, violent crime trends remained relatively stable with a modest 1.6% decline.
These safety fundamentals support tenant retention and leasing velocity, with the neighborhood's overall crime profile comparing favorably to metro averages. Investors should monitor property crime trends as part of ongoing asset management and consider security enhancements where appropriate to maintain competitive positioning.
The property benefits from proximity to major corporate employers within the Orange County corridor, providing workforce housing opportunities for professionals in financial services, technology, and healthcare sectors.
- INTERNATIONAL PAPER — packaging and manufacturing (5.0 miles)
- First American Financial Corporation — financial services (9.6 miles) — HQ
- Molina Healthcare — healthcare services (10.5 miles) — HQ
- Microsoft Technology Center — technology offices (11.3 miles)
- Western Digital — technology manufacturing (11.4 miles) — HQ
This 61-unit Huntington Beach property presents a value-add opportunity in a market with strong rental fundamentals. The 1989 vintage provides potential for strategic improvements to capture higher rents in a neighborhood where NOI per unit averages $13,872, ranking in the 92nd percentile nationally. Demographic projections show household growth of 24% through 2028, expanding the tenant base while elevated home values maintain rental demand pressure.
The neighborhood's 97.4% occupancy rate and median rents at the 91st percentile nationally demonstrate pricing power and absorption strength. According to multifamily property research from WDSuite, the area's B+ rating reflects balanced fundamentals across housing, demographics, and amenities that support long-term investment performance.
- Strong occupancy fundamentals with neighborhood-level rate at 97.4%
- Value-add potential from 1989 construction in appreciating market
- Projected 24% household growth through 2028 expanding tenant pool
- Proximity to major Orange County employment centers
- Monitor property crime trends and capital expenditure timing for older vintage