| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 70th | Good |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 89 Exeter, Irvine, CA, 92612, US |
| Region / Metro | Irvine |
| Year of Construction | 1984 |
| Units | 58 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
89 Exeter Irvine Multifamily Investment
This 58-unit property benefits from neighborhood-level occupancy of 89.3% in a highly educated submarket with 77.4% renter-occupied units. According to CRE market data from WDSuite, the area demonstrates strong rental fundamentals with median rents at $2,411 and consistent demand drivers.
This Irvine location ranks in the top quartile nationally for amenities and educational attainment, with 42.8% of residents holding bachelor's degrees within a 3-mile radius. The neighborhood maintains an A rating with 77.4% of housing units renter-occupied, ranking 23rd among 516 metro neighborhoods and placing in the 99th percentile nationally for rental tenure share.
Built in 1984, this property aligns with the neighborhood's average construction year of 1983, suggesting consistent building stock that may present value-add renovation opportunities for modernization and unit upgrades. Median contract rents of $2,411 have grown 10% over five years, while the neighborhood's occupancy rate of 89.3% provides stability despite a slight decline from previous levels.
Demographics within a 3-mile radius show a population of 121,711 with projected growth to 136,907 by 2028, representing a 12.5% increase that supports expanding renter demand. The area's median household income of $127,250 and high home values at $762,048 reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing. Household formation is projected to increase 38.5% through 2028, creating a larger tenant base for rental properties.
Amenity density supports tenant retention with 30.8 restaurants per square mile, 3.6 grocery stores per square mile, and 3.6 parks per square mile, all ranking in the 98th percentile nationally. The area's urban core designation and proximity to major employment centers provide commute convenience that appeals to the professional renter demographic.
Safety metrics show mixed trends requiring careful monitoring. Property crime rates of 1,100 incidents per 100,000 residents rank 359th among 516 metro neighborhoods, placing in the 21st percentile nationally. More concerning is the 64.6% year-over-year increase in property crime, ranking 443rd metro-wide and in the 17th percentile nationally for crime trend stability.
Violent crime rates remain more controlled at 147 incidents per 100,000 residents, ranking 375th among metro neighborhoods and in the 25th percentile nationally. The violent crime trend shows stability with a minimal -0.1% change year-over-year, ranking in the 48th percentile nationally. Investors should factor these safety considerations into tenant screening, property management protocols, and insurance planning.
The property benefits from proximity to major corporate headquarters and technology centers that support professional renter demand and commute convenience.
- Western Digital — technology headquarters (1.5 miles) — HQ
- Prudential — financial services (1.7 miles)
- Microsoft Technology Center — technology offices (1.9 miles)
- Pacific Life — insurance headquarters (3.5 miles) — HQ
- First American Financial Corporation — financial services headquarters (3.9 miles) — HQ
This 58-unit Irvine property capitalizes on strong rental market fundamentals in a neighborhood ranking 58th among 516 metro areas with an A rating. The 1984 construction year presents value-add renovation opportunities while maintaining alignment with neighborhood norms. Commercial real estate analysis shows the area's 77.4% renter occupancy rate ranks in the 99th percentile nationally, indicating deep rental demand that supports occupancy stability and lease-up velocity.
Demographics within a 3-mile radius project 12.5% population growth through 2028, with household formation increasing 38.5% to create an expanded renter pool. The neighborhood's high educational attainment (42.8% with bachelor's degrees) and proximity to major technology and financial employers support professional tenant quality and retention. Median household income of $127,250 provides strong rent-paying capacity, while elevated home values at $762,048 reinforce rental demand by sustaining renter reliance on multifamily housing.
- Exceptional rental tenure with 77.4% renter-occupied units ranking 99th percentile nationally
- Strong demographic growth projecting 38.5% household formation increase through 2028
- Value-add renovation potential from 1984 vintage with modernization upside
- Risk consideration: Property crime trends show 64.6% year-over-year increase requiring enhanced security protocols