| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1805 N Spurgeon St, Santa Ana, CA, 92706, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1982 |
| Units | 34 |
| Transaction Date | 1997-12-22 |
| Transaction Price | $133,500 |
| Buyer | MAZAHERI ALI |
| Seller | BRISTOL PACIFIC LTD PARTNERSHIP |
1805 N Spurgeon St Santa Ana Multifamily Investment
This 34-unit property benefits from neighborhood-level occupancy rates of 96.8%, well above national averages according to WDSuite's CRE market data. The urban core location combines strong rental demand fundamentals with established tenant retention patterns.
The Santa Ana neighborhood ranks in the top quartile nationally for amenity density, with exceptional access to essential services that support tenant retention. Grocery stores, childcare facilities, and dining options concentrate at above-average levels, creating a walkable environment that appeals to diverse renter demographics. The neighborhood's amenity ranking of 16th among 516 Orange County neighborhoods reflects this competitive advantage.
Demographic data aggregated within a 3-mile radius shows a stable renter pool of approximately 265,000 residents, with 58.7% of housing units occupied by renters. Household growth projections indicate a 45.7% increase in total households by 2028, expanding the potential tenant base significantly. Income trends show median household earnings rising 42.9% over the past five years to $88,830, supporting rent growth potential while maintaining affordability for working families.
The property's 1982 construction year positions it slightly newer than the neighborhood average of 1966, potentially reducing near-term capital expenditure needs compared to older building stock. Neighborhood-level occupancy of 96.8% demonstrates strong rental demand, though this figure has declined modestly over five years, suggesting the need for competitive positioning and tenant retention strategies.
Home values averaging $653,887 create an ownership barrier that can keep households in the rental market longer, though investors should monitor how rising home prices may affect tenant mobility patterns. The rent-to-income ratio of 0.31 indicates relatively affordable rental costs for area residents, supporting occupancy stability in various economic conditions.
Crime metrics present a mixed picture requiring careful consideration. The neighborhood ranks 377th of 516 Orange County neighborhoods for overall crime, placing it in the lower half of the metro area. Property crime rates show improvement with a 31% decline over the past year, indicating positive trending that may support tenant appeal and retention.
Violent crime remains elevated compared to national benchmarks, ranking in the 2nd percentile nationwide. However, recent data shows a 6.3% decrease in violent crime rates, suggesting ongoing improvement efforts. Investors should factor security considerations into property management strategies and evaluate how safety perceptions may affect leasing velocity and tenant demographics.
The property benefits from proximity to major corporate employers that provide stable workforce housing demand, with technology, financial services, and insurance companies anchoring the employment base within a 10-mile radius.
- Xerox — corporate offices (1.7 miles)
- First American Financial — financial services (4.1 miles) — HQ
- Microsoft Technology Center — technology offices (6.0 miles)
- Western Digital — technology (6.4 miles) — HQ
- Pacific Life — insurance (9.8 miles) — HQ
This Santa Ana property offers compelling fundamentals driven by strong neighborhood-level occupancy rates and a dense amenity environment that supports tenant retention. The 96.8% occupancy rate significantly exceeds national averages, while the top-quartile amenity ranking creates competitive differentiation in the local rental market. Demographic projections showing 45.7% household growth through 2028 indicate expanding rental demand, supported by major corporate employers within commuting distance.
The 1982 construction vintage positions the asset favorably relative to the neighborhood's older building stock, potentially reducing capital expenditure needs while maintaining competitive appeal. However, investors should carefully evaluate the mixed safety profile and monitor how crime trends may affect tenant demographics and renewal rates over time.
- Neighborhood occupancy of 96.8% demonstrates strong rental demand fundamentals
- Top-quartile amenity density supports tenant retention and competitive positioning
- Projected 45.7% household growth through 2028 expands potential tenant base
- Proximity to major corporate employers including First American Financial and Western Digital headquarters
- Crime rates show improvement trends but remain elevated, requiring active property management strategies