| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 81st | Best |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2006 Florida St, Huntington Beach, CA, 92648, US |
| Region / Metro | Huntington Beach |
| Year of Construction | 1973 |
| Units | 22 |
| Transaction Date | 1999-09-23 |
| Transaction Price | $1,850,000 |
| Buyer | HOPPE DAVID R |
| Seller | FLORIDA APARTMENTS LTD |
2006 Florida St Huntington Beach Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy resilience, according to WDSuite’s CRE market data, with the area performing in the top quartile nationally on key housing and income markers. Metrics cited reflect neighborhood conditions, not the property itself.
The property sits in an Urban Core pocket of Huntington Beach that ranks 78 out of 516 metro neighborhoods — competitive among Anaheim–Santa Ana–Irvine submarkets and effectively top quartile among 516 metro neighborhoods. According to CRE market data from WDSuite, neighborhood occupancy trends are strong (top quartile nationally), reinforcing near-term leasing stability for multifamily assets.
Daily-needs access supports livability: grocery and pharmacy density both score well above national averages, while restaurants are also plentiful. Childcare availability is a relative strength. By contrast, parks and cafés are limited within the immediate neighborhood, which modestly tempers lifestyle appeal versus other Orange County locations.
Renter demand is underpinned by two dynamics. First, the neighborhood shows a high concentration of renter-occupied housing units, indicating a deep tenant base and stable absorption potential. Second, ownership remains a high-cost option locally, with elevated home values and a high value-to-income ratio compared with national norms — conditions that tend to sustain reliance on multifamily rentals and support pricing power and retention.
Demographics aggregated within a 3-mile radius point to a solid income profile and a growing upper-income cohort, with households projected to increase over the next five years. Even with relatively small shifts in population counts, this implies a larger renter pool and supports occupancy stability for well-located, professionally managed assets.
Vintage matters: built in 1973 versus a neighborhood average around 1980, the asset is older than much of the nearby stock. For investors, that typically translates to capital planning needs but also creates value-add and renovation upside to enhance competitiveness against newer product.
Neighborhood safety indicators compare favorably at the national level, with violent and property offense measures in the top decile nationwide. Year over year, both violent and property offense estimates have declined materially, indicating an improving trend rather than a short-term anomaly.
These figures are neighborhood-level and provide directional context for risk underwriting; conditions can vary by block, but on a comparative basis the area tracks better than most U.S. neighborhoods.
The employment base nearby skews toward finance, insurance, and technology, supporting a steady renter pipeline and commute convenience for workforce and professional households. Employers listed below reflect the closest concentration influencing local leasing dynamics.
- Pacific Life — insurance (7.6 miles) — HQ
- First American Financial — title & financial services (7.8 miles) — HQ
- Prudential — insurance (8.5 miles)
- Western Digital — data storage & technology (8.7 miles) — HQ
- Microsoft Technology Center — software & enterprise technology (8.8 miles)
This 22-unit, 1973-vintage asset benefits from neighborhood performance that ranks among the stronger clusters in the Anaheim–Santa Ana–Irvine metro. High renter-occupied concentration and top-quartile occupancy at the neighborhood level point to durable demand and lease-up resilience, while elevated ownership costs support retention and pricing power for well-operated multifamily. Based on CRE market data from WDSuite, access to daily needs and strong income profiles further reinforce the case for sustained renter depth.
Forward-looking demographics within a 3-mile radius indicate growth in higher-income households and a larger renter pool over the next five years, supporting occupancy stability and upgrade potential. Given its older vintage relative to nearby stock, the property presents value-add pathways through targeted renovations and systems modernization to defend and expand competitive positioning.
- Neighborhood-level occupancy and renter concentration support stable leasing and retention
- High-cost ownership market reinforces multifamily demand and pricing power
- 3-mile demographics point to a growing, higher-income renter pool
- 1973 vintage offers renovation and value-add upside versus newer competitors
- Risks: limited nearby parks/cafés and capex needs could affect positioning if upgrades are deferred