| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1502 N Durant St, Santa Ana, CA, 92706, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1983 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | $966,123 |
| Buyer | CALIFORNIA FEDERAL BANK |
| Seller | CAL FED SERVICE CORP |
1502 N Durant St, Santa Ana Multifamily Opportunity
High renter concentration in the surrounding neighborhood supports a deep tenant base and above-median occupancy for the area, according to WDSuite’s CRE market data. These dynamics favor stable lease-up and retention for a well-managed asset.
Located in Santa Ana’s Urban Core, the property sits in a neighborhood with a B- rating and amenity access that ranks in the top quartile nationally. Restaurants and groceries are especially dense (restaurants and grocery stores score in the mid-to-high 90s by national percentile), with parks, childcare, pharmacies, and cafes also testing well above national medians. This depth of daily-needs and service amenities supports renter convenience and leasing momentum, based on commercial real estate analysis from WDSuite.
Neighborhood occupancy is 96.8% and ranks 213 out of 516 metro neighborhoods—above the metro median—indicating healthy renter demand and resilience at the submarket level. The share of housing units that are renter-occupied is very high (near the top nationally), signaling a large and active pool of prospective tenants and breadth for renewal strategies.
Home values in the neighborhood are elevated versus national norms, and the value-to-income ratio sits in a high national percentile. In practical terms, this is a high-cost ownership market that tends to reinforce reliance on multifamily housing and supports pricing power, though the local rent-to-income ratio (around the low single‑thirds) suggests some affordability pressure that owners should manage through renewal and unit-mix strategies.
Within a 3-mile radius, demographics show a modest population dip in recent years alongside an increase in households and a decline in average household size. Looking ahead, projections indicate continued growth in households and smaller household sizes, pointing to a larger tenant base and steady demand for professionally managed rentals. Given the property’s 35 units with average sizes around 665 square feet, positioning for smaller-household renters could align with these trends.
Vintage context: the asset was built in 1983, notably newer than the neighborhood’s average construction year of 1966. This relative youth can be a competitive positive versus older stock while still leaving room for targeted modernization or systems updates to capture value-add upside.
Safety indicators for the neighborhood trail regional and national benchmarks. The area’s overall crime rank sits in the lower half of the Anaheim–Santa Ana–Irvine metro (377 out of 516 neighborhoods), and national comparisons place the neighborhood in low percentiles for violent and property offenses. That said, recent trend data shows improvement: estimated property offenses declined by roughly a third year over year, and violent offenses eased modestly, according to WDSuite’s CRE data.
For investors, this suggests balancing stronger amenity and demand fundamentals with prudent security, lighting, and property management practices to support resident retention and leasing performance as conditions continue to evolve.
Nearby corporate offices anchor a diversified employment base that supports renter demand and commute convenience, including technology, financial services, and enterprise operations. The list below focuses on major employers within a typical commuter shed.
- Xerox — corporate offices (1.9 miles)
- First American Financial — title & financial services (3.9 miles) — HQ
- Microsoft Technology Center — technology & client solutions (5.9 miles)
- Prudential — financial services (6.1 miles)
- Western Digital — data storage technology (6.3 miles) — HQ
1502 N Durant St is a 35‑unit 1983-vintage asset positioned in a high-amenity, renter‑heavy neighborhood where occupancy trends are above the metro median. The asset is newer than much of the local housing stock, offering relative competitiveness versus older properties while retaining room for targeted value‑add through interior upgrades, curb appeal, and building systems planning. According to CRE market data from WDSuite, elevated neighborhood home values and a high renter concentration underpin durable multifamily demand, though lease management should account for affordability pressure.
Forward-looking 3‑mile demographics point to more households and smaller average household sizes, supporting a larger tenant base and steady leasing for efficient unit layouts. Proximity to diversified corporate employers further supports retention and day‑to‑day occupancy stability. Key risks include below‑average safety metrics and affordability sensitivity, which can be mitigated with professional management, security measures, and prudent rent-setting.
- Renter-heavy neighborhood and above-median occupancy signal demand depth
- 1983 vintage newer than area average, enabling competitive positioning and value-add potential
- High-cost ownership market supports sustained reliance on multifamily housing
- 3-mile outlook: more households and smaller sizes support stable leasing for efficient units
- Risks: below-average safety and affordability pressure; mitigate with security and disciplined renewals