| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Good |
| Demographics | 49th | Poor |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2151 E 1st St, Santa Ana, CA, 92705, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1972 |
| Units | 75 |
| Transaction Date | 2015-12-21 |
| Transaction Price | $6,750,000 |
| Buyer | GUEST HOUSE LP |
| Seller | GUEST INN LLC |
2151 E 1st St Santa Ana Multifamily Investment
Neighborhood-level occupancy of 97.4% and strong amenity access position this 75-unit property in a stable rental market. The area ranks in the top quartile nationally for NOI per unit, reflecting solid fundamentals according to WDSuite's CRE market data.
This Santa Ana neighborhood demonstrates strong rental fundamentals, ranking in the top quartile among 516 metro neighborhoods for housing metrics and amenity access. The area maintains a 97.4% neighborhood-level occupancy rate with a robust renter share of 49.7%, indicating stable demand dynamics for multifamily properties.
Built in 1972, the property aligns with the neighborhood's average construction year of 1973, positioning it for potential value-add renovations while avoiding obsolescence concerns. The area's amenity density ranks 41st of 516 neighborhoods, supported by nearly 22 restaurants per square mile and strong pharmacy access that ranks in the 99th percentile nationally.
Demographics within a 3-mile radius show a population of approximately 208,600 with 55.5% renter-occupied housing. Projected household growth of 40.9% through 2028 and median household income increases to $128,511 suggest expanding rental demand, while median contract rents are forecast to reach $2,441. The neighborhood's median home value of $584,662 and value-to-income ratio of 6.6 may support rental retention as ownership remains challenging for many residents.
The neighborhood's crime profile presents mixed indicators that require careful monitoring. Property crime rates rank 464th of 516 metro neighborhoods, though the area has experienced a 29.6% decrease in property offenses over the past year, suggesting improving trends.
Violent crime rates remain elevated, ranking 478th of 516 neighborhoods, placing the area in the bottom percentile nationally for violent offense rates. However, violent crime has also declined 7.4% year-over-year. Investors should factor these safety considerations into tenant screening, property management protocols, and security investments when evaluating this location.
The property benefits from proximity to established corporate employers that support local workforce housing demand, with major offices within commuting distance providing employment stability for potential tenants.
- Xerox — document technology offices (0.3 miles)
- First American Financial — financial services (3.3 miles) — HQ
- Microsoft Technology Center — technology offices (4.7 miles)
- Western Digital — technology manufacturing (5.2 miles) — HQ
- Pacific Life — insurance services (9.0 miles) — HQ
This 75-unit Santa Ana property offers exposure to a high-occupancy rental market with demonstrated resilience and growth potential. The neighborhood's 97.4% occupancy rate and top-quartile NOI performance among metro areas reflect stable cash flow fundamentals, while projected household growth of 40.9% through 2028 supports long-term demand expansion.
The 1972 construction year presents value-add renovation opportunities to capture rising rents, with neighborhood median contract rents projected to increase 28.3% to $2,441 by 2028. Strong amenity density and proximity to major corporate employers provide tenant retention advantages, though elevated crime rates require active property management and security considerations according to CRE market data from WDSuite.
- High neighborhood occupancy at 97.4% indicates stable rental demand
- Top-quartile NOI performance among 516 metro neighborhoods
- Projected 40.9% household growth through 2028 supports demand expansion
- Value-add potential with 1972 vintage aligned to neighborhood average
- Risk factor: Elevated crime rates require enhanced security and management protocols