| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1423 N Durant St, Santa Ana, CA, 92706, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1984 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1423 N Durant St, Santa Ana Multifamily Opportunity
Neighborhood indicators point to durable renter demand and steady occupancy in this part of Santa Ana, according to WDSuite’s CRE market data. The analysis reflects neighborhood conditions rather than the property’s own operations.
Situated in Santa Ana’s Urban Core, the area surrounding 1423 N Durant St benefits from a dense amenity base that supports resident retention: restaurants and groceries rank among the strongest locally, with parks, pharmacies, cafes, and childcare also competitive versus neighborhoods nationwide. These amenity concentrations typically underpin leasing velocity for workforce and middle‑income renters.
Occupancy in the neighborhood is elevated relative to many U.S. areas, and the share of renter‑occupied housing units is very high, signaling a deep tenant base for multifamily. Median home values in the neighborhood are also elevated, which tends to reinforce reliance on rental housing and support pricing power for well‑positioned assets. At the same time, rent‑to‑income metrics suggest some affordability pressure, warranting careful renewal and concession strategies.
Within a 3‑mile radius, households have increased over the past five years and are projected to rise further even as overall population trends modestly lower and average household size declines. For investors, that shift points to a larger number of smaller households and an expanding renter pool over time, which can help support occupancy stability and absorption of renovated units.
The property’s 1984 vintage is newer than the area’s older average housing stock, which can enhance competitive positioning versus 1960s‑era buildings. Investors should still underwrite near‑term capital for system updates and modernization to capture value‑add upside. Average neighborhood NOI per unit trends are solid compared with national peers, based on CRE market data from WDSuite, reinforcing the case for operational execution over time. Average school ratings in the immediate area are lower, which may influence unit‑mix appeal for family‑oriented renters.
Safety trends in the neighborhood are mixed compared with U.S. neighborhoods overall. Recent data place the area below average nationally on safety, but year‑over‑year movements show improvement: estimated property offenses declined notably and violent‑offense rates edged lower. These figures reflect neighborhood conditions, not the subject property, and should be considered alongside due diligence.
Within the Anaheim–Santa Ana–Irvine metro, this neighborhood’s safety profile is competitive with some urban peers but not among the top quartile. It ranks against a total of 516 metro neighborhoods; investors should weigh the recent downward trend in estimated incidents with practical measures such as security, lighting, and resident engagement when planning operations.
The surrounding employment base includes corporate offices within a short drive, supporting commute convenience and renter demand for workforce housing. Notable nearby employers include Xerox, First American Financial, Microsoft, Prudential, and Western Digital.
- Xerox — corporate offices (1.9 miles)
- First American Financial — title and financial services (3.9 miles) — HQ
- Microsoft Technology Center — technology/customer engagement (5.8 miles)
- Prudential — financial services (6.1 miles)
- Western Digital — data storage technology (6.3 miles) — HQ
This 33‑unit, 1984‑vintage asset sits in a renter‑heavy Santa Ana neighborhood with strong amenity access and high neighborhood occupancy, supporting leasing stability. Elevated neighborhood home values reinforce sustained reliance on rental housing, while a shrinking average household size within 3 miles points to more, smaller households entering the renter pool. According to CRE market data from WDSuite, neighborhood NOI per unit trends are competitive nationally, suggesting room for value capture through renovations and operations.
Key considerations include managing affordability pressure (as signaled by neighborhood rent‑to‑income levels), addressing lower local school ratings in marketing and unit‑mix strategy, and incorporating security best practices given below‑average national safety standing despite recent improvements. The property’s newer‑than‑area vintage provides a platform for modernization to differentiate from older stock and support rent premiums.
- Renter‑heavy neighborhood and high neighborhood occupancy support demand depth and lease stability.
- Amenity‑rich Urban Core location aids retention and leasing velocity.
- 1984 vintage offers value‑add modernization potential versus older area stock.
- Neighborhood NOI per unit compares well nationally, per WDSuite, supporting an operational upside case.
- Risks: below‑average national safety readings, affordability pressure, and lower school ratings require disciplined asset management.