| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1501 N Ross St, Santa Ana, CA, 92706, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1980 |
| Units | 30 |
| Transaction Date | 2006-05-12 |
| Transaction Price | $3,400,000 |
| Buyer | ROSS & DURANT LP |
| Seller | DODGE PHILIP |
1501 N Ross St Santa Ana Multifamily Investment
Neighborhood occupancy is 96.8% with a high renter-occupied share of 87.7%, supporting durable demand at this 30-unit asset, according to WDSuite s CRE market data. Positioned in Santa Ana s urban core, the asset benefits from deep local renter pools and proximity to jobs.
The property sits in an Urban Core neighborhood of Santa Ana with a B- neighborhood rating. Amenity access is a clear strength: grocery, parks, restaurants, childcare, and pharmacies all register in the top decile nationally, with restaurants and parks effectively top percentile. For investors, this concentration of daily-needs and lifestyle amenities tends to support leasing velocity and renewal prospects.
Operationally, the neighborhood s occupancy rate of 96.8% is competitive among Anaheim-Santa Ana-Irvine neighborhoods (ranked 213 of 516) and sits in the 82nd percentile nationally. The share of housing units that are renter-occupied is very high at 87.7% (top end of the national distribution), which points to a deep tenant base for multifamily and supports demand stability through cycles.
Within a 3-mile radius, households have increased while overall population edged lower, indicating smaller average household sizes and continued formation of renting households rather than new unit construction. Forward-looking data shows households are projected to grow further, which should expand the renter pool and help support occupancy and leasing fundamentals.
Home values are elevated for the neighborhood (national 92nd percentile) and the value-to-income ratio is high (95th percentile). In practice, this is a high-cost ownership setting that tends to reinforce reliance on multifamily rentals and can support pricing power. At the same time, a rent-to-income ratio around 0.31 and a median contract rent level in the 80th national percentile suggest some affordability pressure; effective rent management and retention strategies remain important.
Safety indicators are mixed and should be weighed with context. The neighborhood s overall crime rank is 377 out of 516 Anaheim-Santa Ana-Irvine neighborhoods, indicating below metro average safety, and its national safety standing is in the 36th percentile. However, recent trend data shows improvement: estimated violent offenses declined by 6.3% year over year (around the national median for improvement), and estimated property offenses fell by roughly 31% year over year (a stronger-than-average improvement, 74th percentile nationally). Investors should evaluate property-level security, lighting, and management practices relative to these neighborhood trends.
Proximity to a diverse employment base underpins renter demand, with nearby roles in document technology, title and insurance services, enterprise technology, data storage, and financial services.
- Xerox corporate offices (1.98 miles)
- First American Financial title & insurance services (3.92 miles) HQ
- Microsoft Technology Center enterprise technology (5.88 miles)
- Prudential financial services (6.12 miles)
- Western Digital data storage & technology (6.32 miles) HQ
1501 N Ross St is a 30-unit multifamily asset built in 1980, giving it a relative age advantage versus the neighborhood s older housing stock. This vintage supports a pragmatic value-add thesis: systems and finishes may benefit from modernization, yet the property should remain competitive against mid-century inventory common to the area. According to CRE market data from WDSuite, neighborhood occupancy is strong and competitive locally, aided by a very high concentration of renter-occupied units that deepens the tenant base.
Elevated neighborhood home values and a high value-to-income ratio point to a high-cost ownership market, which can sustain renter reliance on multifamily and support rent growth over time. Near-term, operators should balance this backdrop with measured affordability considerations (rent-to-income near 0.31) and local safety variability, using targeted upgrades, tenant retention programs, and disciplined leasing to preserve occupancy and cash flow resilience.
- Strong neighborhood occupancy with deep renter concentration supports demand stability
- 1980 construction offers value-add/modernization potential versus older local stock
- High-cost ownership market reinforces multifamily reliance and pricing power
- Diverse nearby employers provide broad commute convenience for tenants
- Risks: affordability pressure (rent-to-income) and below-metro-average safety require attentive operations