| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1403 N Spurgeon St, Santa Ana, CA, 92701, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1403 N Spurgeon St Santa Ana Multifamily Investment
Neighborhood occupancy is high and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 24-unit asset in Santa Ana’s urban core. Elevated for-sale housing costs nearby further sustain the renter pool and pricing power at the neighborhood level.
Positioned in Santa Ana’s Urban Core, the property benefits from neighborhood fundamentals that are above metro median among 516 Anaheim–Santa Ana–Irvine neighborhoods, with a B- neighborhood rating. The local occupancy rate is 96.8% at the neighborhood level (not the property), placing it in a strong national position for stability, based on CRE market data from WDSuite.
Daily-life amenities are a clear advantage: restaurants and groceries rank in the top quartile nationally, with abundant parks, pharmacies, and childcare also scoring well versus U.S. peers. This density supports resident convenience and reduces friction in leasing and retention. Average school ratings in the neighborhood trail national norms, which is a consideration for family-oriented renters, but the amenity mix offsets some of that impact for working households.
Tenure patterns indicate a deep renter base: the share of housing units that are renter-occupied is very high in this neighborhood, signaling strong multifamily demand and a broad tenant pipeline. Median contract rents in the neighborhood are above the national median, while the rent-to-income ratio of roughly 0.31 points to some affordability pressure; for investors, that calls for careful lease management and renewal strategies rather than aggressive pushes.
Within a 3-mile radius, households are increasing even as overall population trends edge down slightly and average household size declines. For multifamily, that combination typically expands the tenant base by creating more households seeking rental options, which can support occupancy stability and measured rent growth over time. Elevated home values in the neighborhood context place ownership in a high-cost category, which tends to reinforce reliance on rental housing and supports retention for well-managed communities. The asset’s 1978 vintage is newer than the neighborhood’s average construction year (1966), offering competitive positioning against older stock while still warranting targeted system updates or modernization to meet current renter expectations during value-add cycles driven by multifamily property research.
Safety conditions in the neighborhood sit below the metro average among 516 Anaheim–Santa Ana–Irvine neighborhoods and below national norms, based on WDSuite’s data. Violent and property offense levels compare unfavorably to most U.S. neighborhoods, so investors should underwrite security line items and resident-experience measures accordingly.
Trend signals are mixed but show some improvement: estimated property offenses declined meaningfully over the most recent year, with improvement momentum competitive among peer neighborhoods in the metro. Continued monitoring of local trends and community engagement can help sustain retention and protect NOI.
The area’s employment base blends technology and financial services, supporting workforce housing demand and commute convenience for renters. Notable nearby corporate offices include Xerox, First American Financial, Microsoft, Prudential, and Western Digital.
- Xerox — document technology (1.6 miles)
- First American Financial — title insurance (3.8 miles) — HQ
- Microsoft Technology Center — technology (5.7 miles)
- Prudential — financial services (5.9 miles)
- Western Digital — data storage (6.1 miles) — HQ
This 24-unit 1978 asset sits in a neighborhood with high renter concentration and strong occupancy, supporting durable cash flow prospects relative to the broader U.S. According to commercial real estate analysis from WDSuite, the neighborhood’s NOI per unit trends are above national medians and amenity access is top quartile nationally, which can aid leasing velocity and renewal retention. The vintage is newer than the neighborhood average (1966), offering a competitive edge versus older stock while leaving room for targeted modernization to capture value-add upside.
Within a 3-mile radius, household counts are rising as average household size declines and incomes trend upward, expanding the renter pool despite modest population contraction. Elevated ownership costs in the neighborhood context reinforce reliance on multifamily rentals, while a higher rent-to-income profile suggests investors should emphasize resident retention and measured rent growth strategies. Safety metrics lag metro and national benchmarks, so underwriting should include appropriate operating reserves and security investments.
- High neighborhood occupancy and deep renter base support stability
- Amenity-rich urban core aids leasing and renewals
- 1978 vintage is newer than area average, with value-add modernization potential
- Rising household counts within 3 miles expand the tenant pipeline
- Risks: below-average safety and affordability pressure require active management