| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1416 N Spurgeon St, Santa Ana, CA, 92701, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2003-05-30 |
| Transaction Price | $1,826,000 |
| Buyer | PATEL CHANDULAL K |
| Seller | HUYNH THO V |
1416 N Spurgeon St, Santa Ana Multifamily Investment
Neighborhood occupancy remains resilient and renter demand is deep, according to WDSuite’s CRE market data, positioning this 20‑unit asset for stable operations in a high-cost ownership market.
Located in Santa Ana’s Urban Core, the property benefits from a renter-driven neighborhood and strong daily-needs access. The area ranks 16th out of 516 metro neighborhoods for overall amenities, placing it well above the metro median and in the top quartile nationally for restaurants, groceries, parks, and services. This concentration of amenities supports everyday convenience and helps sustain leasing velocity.
Multifamily fundamentals are competitive among Anaheim–Santa Ana–Irvine neighborhoods, with neighborhood occupancy in the upper national percentiles and above the metro median (rank 213 of 516). A very high share of housing units are renter-occupied in the neighborhood, indicating a large tenant base and steady demand for smaller-format units like the subject’s average 544 sq. ft. footprints.
Within a 3-mile radius, demographics show households growing even as population trends edge lower and average household size declines. This dynamic typically broadens the renter pool and supports occupancy stability, while rising household incomes in the radius provide some buffer for rent growth management. Median home values in the neighborhood sit at elevated levels relative to national norms, which tends to sustain reliance on rental housing and can aid lease retention.
Vintage matters for competitive positioning. Built in 1978, the asset is newer than the neighborhood’s average construction year (1966), offering a relative edge versus older stock. That said, systems and finishes may still require targeted capital to meet current renter expectations and reduce near-term maintenance risk—typical for late-1970s product.
Safety indicators trail both metro and national benchmarks. The neighborhood’s crime positioning falls in the lower half among 516 Anaheim–Santa Ana–Irvine neighborhoods (rank 377 of 516), and national percentiles indicate higher-than-average violent and property offense exposure. Recent trends show some improvement, with estimated violent and property offenses declining year over year, which is a constructive directional signal to monitor rather than a resolved risk.
Investors should underwrite appropriate security measures and operating practices, and consider how proximity to strong employment and amenities can support resident retention despite these headwinds.
The submarket draws from a diverse employment base spanning business services and technology, which supports renter demand and commute convenience for workforce housing near the property. Key nearby employers include Xerox, First American Financial, Microsoft, Prudential, and Western Digital.
- Xerox — business services (1.6 miles)
- First American Financial — title & insurance (3.8 miles) — HQ
- Microsoft Technology Center — technology (5.7 miles)
- Prudential — financial services (6.0 miles)
- Western Digital — data storage & technology (6.2 miles) — HQ
This 20‑unit, 1978-vintage asset sits in a renter-heavy Santa Ana neighborhood where occupancy is competitive versus metro peers and strong by national comparison. Elevated home values in the neighborhood context reinforce rental demand, while a dense amenity footprint supports day-to-day livability and leasing stability. Based on CRE market data from WDSuite, the neighborhood’s renter-occupied share is very high and occupancy trends are favorable for smaller unit formats, suggesting depth in the tenant base.
Near-term underwriting should account for operating discipline around safety and schools, as well as affordability pressure indicated by rent-to-income levels. The vintage is newer than the neighborhood average, providing a competitive angle versus older stock; targeted modernization and systems updates can unlock value-add potential and help sustain retention.
- Renter-heavy neighborhood with competitive occupancy, supporting stable cash flow foundations.
- Amenity-rich Urban Core location that aids leasing velocity and retention.
- 1978 vintage is newer than local average; targeted upgrades can drive value-add upside.
- Proximity to diverse employers underpins workforce demand and pricing power.
- Risks: below-average safety metrics, lower school ratings, and affordability pressure require active management.