| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 81st | Best |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1702 Florida St, Huntington Beach, CA, 92648, US |
| Region / Metro | Huntington Beach |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | 2008-02-01 |
| Transaction Price | $7,000,000 |
| Buyer | KENT AVENUE PARTNERSHIP |
| Seller | FLORIDA STREET PARTNERS LLC |
1702 Florida St Huntington Beach 32-Unit Value-Add Multifamily
Neighborhood occupancy is robust and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data, pointing to durable leasing fundamentals for a well-located Huntington Beach asset.
The property sits in an Urban Core pocket of Huntington Beach rated A among 516 metro neighborhoods, with the area competitive in the Anaheim–Santa Ana–Irvine region and top quartile nationally on several multifamily indicators (WDSuite). Neighborhood occupancy trends are strong and sit in the top quartile nationally, signaling stable collections and limited downtime between turns.
Renter-occupied housing accounts for a substantial share of neighborhood units (67% renter concentration), which supports a deep tenant base for multifamily operators. At the same time, the local rent-to-income ratio tracks well below national pressure points, which can aid retention and reduce turnover sensitivity during renewal cycles.
Within a 3-mile radius, demographics show recent population stability with projections calling for population growth and a material increase in households by 2028, expanding the prospective renter pool. Income levels in the 3-mile radius are elevated and have trended upward, which helps underpin demand for professionally managed apartments and supports occupancy stability.
Livability inputs are balanced: grocery and pharmacy access benchmark high versus national norms, while parks and cafes are thinner inside the immediate neighborhood footprint. Elevated home values at the neighborhood level are in a high national percentile, reinforcing sustained reliance on rental housing and offering support for pricing power and lease-up velocity relative to for-sale alternatives.
Safety indicators are a relative strength for this neighborhood. Based on WDSuite’s data, the area performs in the top decile nationally for lower violent and property offense rates, and ranks among the stronger segments of the 516 neighborhoods in the Anaheim–Santa Ana–Irvine metro. Recent year-over-year trends also point to declining incident rates, which is supportive of renter retention and asset perception over hold periods.
Proximity to a diversified white-collar employment base supports leasing stability and commute convenience, with nearby anchors in insurance, financial services, technology, and consumer electronics.
- Pacific Life — insurance (7.5 miles) — HQ
- First American Financial — title & financial services (7.8 miles) — HQ
- Prudential — financial services offices (8.5 miles)
- Western Digital — consumer electronics & storage (8.7 miles) — HQ
- Microsoft Technology Center — technology offices (8.8 miles)
1702 Florida St offers investors exposure to a high-performing Huntington Beach neighborhood with near-full occupancy at the neighborhood level and a sizable renter concentration that supports demand resiliency. Elevated ownership costs locally sustain reliance on multifamily housing, and, according to CRE market data from WDSuite, neighborhood-level metrics benchmark in the top quartile nationally for occupancy and income-driven demand, aiding pricing power and lease retention.
Built in 1977, the asset is slightly older than the neighborhood’s average vintage, suggesting targeted value-add and capital planning opportunities to enhance competitiveness against newer stock. Forward-looking 3-mile demographics point to growth in households, which should broaden the tenant base and help support stabilized operations over a long-term hold.
- Strong neighborhood occupancy and renter depth support stable collections
- High-cost ownership market reinforces sustained rental demand and pricing power
- 1977 vintage provides value-add and CapEx levers to improve unit mix and finishes
- 3-mile household growth outlook expands the tenant base and supports occupancy
- Risks: thinner park/cafe access in the immediate footprint; managing exposure to a high-rent market; capital needs typical of late-1970s construction