| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 S Lyon St, Santa Ana, CA, 92705, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1989 |
| Units | 50 |
| Transaction Date | 2009-05-01 |
| Transaction Price | $8,000,500 |
| Buyer | Emerald Terrace Apartments LLC |
| Seller | Grace Kadoya |
1001 S Lyon St, Santa Ana CA — 50-Unit Multifamily Opportunity
Neighborhood occupancy is solid and renter concentration is high, suggesting durable tenant demand in Santa Ana’s urban core, according to WDSuite’s CRE market data. With elevated ownership costs in Orange County, the submarket context favors stabilized leasing over time.
The immediate area offers strong daily-life convenience with dense neighborhood amenities. Grocery access is particularly robust (among the highest concentrations metro-wide) and restaurants are plentiful, placing the location in the top tier nationally for food options. Cafes and parks are also present at rates that compare well against neighborhoods nationwide, supporting day-to-day livability that can aid retention and leasing.
For investors, the most notable housing signal is depth of the renter base: the neighborhood’s share of renter-occupied units is very high (top percentile nationally), pointing to a broad tenant pool for multifamily. Neighborhood occupancy levels are strong and sit in the top quartile nationally, a positive indicator for income stability through cycles. School ratings in the area trend below national averages, which may temper appeal for some family renters but does not typically diminish demand for workforce-oriented properties.
Within a 3-mile radius, demographics indicate a modest population contraction in recent years alongside a small increase in households, implying smaller household sizes and a shifting mix of renters. Looking ahead, projections point to a sizable increase in households and a lower average household size, which would expand the renter pool and support occupancy and leasing velocity. Median incomes have risen meaningfully, and the neighborhood’s high-cost ownership market (home values well above national levels) tends to sustain rental demand and pricing power for well-positioned assets.
Vintage also matters: the property was built in 1989, newer than the neighborhood’s average 1960s-era housing stock. That positioning can be competitively advantageous versus older inventory, while still leaving room for targeted modernization to enhance unit desirability and operating efficiency.
Safety indicators are mixed but trending in a favorable direction. Based on national comparisons, violent incidents track below the national average, while property-related incidents sit near the national midpoint. Recent year-over-year data shows notable improvement in both categories, with sharper declines in violent incidents, according to CRE market data from WDSuite.
Within the Anaheim–Santa Ana–Irvine metro, the neighborhood ranks near the middle of the pack among 516 neighborhoods. For investors, the key takeaway is that recent directional trends are improving, and the location performs competitively relative to many urban-core peers without standing out as either a top- or bottom-tier outlier.
The employment base nearby blends corporate offices and tech-related roles that support commuter convenience and renter demand, including Xerox, First American Financial, Microsoft’s Technology Center, Western Digital, and Pacific Life.
- Xerox — document solutions (0.74 miles)
- First American Financial — title insurance & services (2.48 miles) — HQ
- Microsoft Technology Center — enterprise technology center (4.03 miles)
- Western Digital — data storage (4.51 miles) — HQ
- Pacific Life — life insurance (8.25 miles) — HQ
This 50-unit asset in Santa Ana benefits from a renter-dense neighborhood with solid occupancy that ranks in the top quartile nationally, supporting income durability through cycles. Elevated home values in the area reinforce reliance on rental housing, and within a 3-mile radius the outlook calls for a meaningful increase in households and smaller household sizes, expanding the tenant base and aiding lease-up and renewal prospects. According to CRE market data from WDSuite, the property’s submarket also delivers abundant daily amenities, which can bolster retention.
Built in 1989, the community is newer than much of the surrounding 1960s-era stock—an advantage against older comparables—with potential to capture value through selective renovations and system upgrades. The main watchpoints are rent-to-income pressure that warrants proactive lease management and the area’s below-average school ratings, which may influence certain family segments but are less material for workforce-oriented demand.
- Renter-heavy neighborhood and top-quartile occupancy support stable cash flow
- 1989 vintage outpositions older local stock with room for targeted renovations
- High-cost ownership market sustains multifamily demand and pricing power
- 3-mile outlook points to more households and a larger renter pool, aiding leasing
- Risks: rent-to-income pressure and lower school ratings require careful leasing strategy