| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 85th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 27 Lake Rd, Irvine, CA, 92604, US |
| Region / Metro | Irvine |
| Year of Construction | 1983 |
| Units | 50 |
| Transaction Date | 2004-10-03 |
| Transaction Price | $3,190,000 |
| Buyer | WOODBRIDGE MANOR PRESERVATION LP |
| Seller | WOODBRIDGE MANOR LP |
27 Lake Rd Irvine Multifamily Investment
This 50-unit property built in 1983 sits in a neighborhood with 100% occupancy and strong renter demographics, according to CRE market data from WDSuite.
The property occupies an inner suburb neighborhood ranking in the top quartile among 516 metro neighborhoods for overall investment quality, with exceptional occupancy metrics at 100% neighborhood-level occupancy. The area demonstrates strong fundamentals with a median household income of $196,354 and 36.4% of housing units occupied by renters, supporting consistent rental demand.
Built in 1983, this property aligns with the neighborhood's average construction year of 1976, positioning it for potential value-add opportunities through strategic renovations and unit improvements. The area benefits from exceptional amenity density, ranking 8th among metro neighborhoods for both cafes and childcare facilities per square mile, enhancing tenant retention prospects.
Demographics within a 3-mile radius show a population of approximately 157,000 with strong income fundamentals, including a median household income of $130,243 and 55.7% of housing units occupied by renters. Projections through 2028 indicate continued household growth of 37.1%, expanding the potential tenant base and supporting occupancy stability.
The neighborhood's school ratings average 5.0 out of 5, ranking first among metro neighborhoods, while home values at $1.15 million median reinforce rental demand by keeping homeownership costs elevated relative to rental options.
Property crime rates in the neighborhood are moderate, with an estimated rate of 389.6 incidents per 100,000 residents ranking 188th among 516 metro neighborhoods. This places the area around the metro median for property crime, with recent trends showing a 3% decline year-over-year.
Violent crime rates are lower, with an estimated 95.5 incidents per 100,000 residents, though this ranks 317th among metro neighborhoods. The area has seen an 11.1% decrease in violent crime over the past year, indicating improving safety trends that may support tenant retention and property values.
The property benefits from proximity to major corporate employers and headquarters, providing workforce housing opportunities for technology, financial services, and manufacturing professionals.
- Microsoft Technology Center — technology offices (2.1 miles)
- Western Digital — technology manufacturing (2.2 miles) — HQ
- Prudential — financial services (2.4 miles)
- First American Financial — financial services (3.7 miles) — HQ
- Pacific Life — insurance (5.9 miles) — HQ
This 50-unit property presents a compelling multifamily investment opportunity in Irvine's high-performing rental market. The neighborhood demonstrates exceptional occupancy stability at 100%, supported by strong local demographics including a $196,354 median household income and substantial renter population. Built in 1983, the property offers value-add potential through strategic improvements while benefiting from proximity to major employers like Western Digital and Microsoft Technology Center.
According to multifamily property research from WDSuite, the area ranks in the top quartile nationally for demographics and amenities, with projected household growth of 37.1% through 2028 expanding the tenant base. The combination of elevated home values, strong employment base, and excellent schools creates a stable rental environment with limited ownership competition.
- 100% neighborhood occupancy rate demonstrates strong rental demand stability
- High-income demographics with $196,354 median household income support rent growth
- Value-add opportunity through renovations given 1983 construction year
- Proximity to major corporate employers provides workforce housing demand
- Risk consideration: Property crime rates rank around metro median, requiring ongoing security assessment