| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 59th | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2010 E Santa Clara Ave, Santa Ana, CA, 92705, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 1997-05-23 |
| Transaction Price | $2,675,000 |
| Buyer | CADIGAN PATRICK F |
| Seller | SANTA CLARA EAST |
2010 E Santa Clara Ave, Santa Ana Multifamily Investment
Neighborhood occupancy is above national medians but softer versus the metro, while elevated home values sustain renter demand, according to WDSuite’s CRE market data. Figures reference neighborhood-level metrics rather than property performance.
This Urban Core neighborhood in the Anaheim–Santa Ana–Irvine metro carries a B rating and ranks 243 out of 516 locally, placing it above the metro median. Dining and daily-needs density are a strength: restaurant and cafe concentrations score in the top quartile nationally, and grocery access tracks well above national averages. By contrast, park and pharmacy presence within neighborhood boundaries registers low, which may modestly temper livability for residents who prioritize green space and on-foot errands.
Median school ratings are competitive, landing in the top quartile nationally, which can support family retention and longer tenancy. The neighborhood’s renter-occupied share is moderate, signaling a diversified housing base; at the same time, the broader 3‑mile radius shows a larger renter pool, reinforcing depth for multifamily leasing. Median contract rents and household incomes both sit well above national percentiles, indicating a high-cost ownership market where multifamily housing often retains pricing power and supports occupancy stability.
With an average construction vintage of 1965 across the neighborhood, the 1972 asset should be relatively competitive against older stock; investors may still plan for system upgrades or targeted renovations to protect positioning against newer supply. Net operating income per unit benchmarks are strong versus national peers, suggesting the market can support institutional operating standards when executed with disciplined expense control.
Demographic statistics aggregated within a 3‑mile radius indicate households have edged higher recently and are projected to rise further by 2028, even as average household size trends smaller—factors that typically expand the renter base and support steady absorption. Rent growth is expected to continue over the period, which can aid revenue management while warranting attention to affordability pressure and renewal strategies.
Safety trends are mixed. The neighborhood’s crime rank sits in the lower half of the metro (376 out of 516), and safety levels are below the national median (36th percentile). However, property offense rates improved year over year, with declines that outperformed many U.S. neighborhoods, which is constructive for underwriting.
Investors should evaluate security, lighting, and insurance line items consistent with Urban Core assets, while noting that recent improvement in property offenses provides a modest tailwind. Comparisons are neighborhood-wide, not specific to the property.
Proximity to corporate offices supports a broad white-collar employment base and commute convenience for renters, notably in finance, technology, and diversified services reflected below.
- Xerox — corporate offices (1.4 miles)
- First American Financial — title & financial services (4.6 miles) — HQ
- Microsoft Technology Center — technology (6.1 miles)
- Prudential — financial services (6.5 miles)
- Western Digital — data storage (6.6 miles) — HQ
2010 E Santa Clara Ave offers exposure to an Urban Core location where neighborhood livability is anchored by strong food-and-beverage density and competitive school ratings, while the broader 3‑mile area provides a substantial renter pool. The asset’s 1972 vintage is slightly newer than the neighborhood average, creating a practical opening for selective value‑add and systems modernization to sharpen its edge against older stock without relying on a full reposition.
Home values are elevated and ownership costs high relative to incomes, which typically sustains multifamily demand and aids renewal capture. Neighborhood occupancy trends sit above national medians but trail metro leaders; disciplined leasing and expense control should keep performance resilient, and, based on CRE market data from WDSuite, continued rent growth and a projected rise in households point to a supportive long‑term demand backdrop. Underwrite with attention to security, insurance, and affordability pressure to protect retention.
- Urban Core location with strong restaurant/cafe density and top‑quartile school ratings supporting tenant retention
- 1972 vintage offers targeted value‑add and systems upgrades to compete with newer and older stock
- High ownership costs reinforce renter reliance on multifamily, supporting pricing power and lease stability
- Household growth in the 3‑mile radius and ongoing rent gains support long‑term demand and NOI durability
- Risks: safety ranks below metro median; limited park/pharmacy access; manage affordability and insurance in underwriting