| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 77th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3405 S Plaza Dr, Santa Ana, CA, 92704, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1978 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3405 S Plaza Dr Santa Ana Multifamily Investment
Neighborhood fundamentals point to stable renter demand, with occupancy in the surrounding area holding near the mid-90% range according to WDSuite’s CRE market data. Positioned in Orange County’s urban core, the asset benefits from a deep renter pool and strong amenity access that supports leasing durability.
Situated in Santa Ana’s Urban Core (Anaheim–Santa Ana–Irvine metro), the neighborhood ranks 49 out of 516 metro neighborhoods, placing it in the top quartile locally. Amenity access is a clear strength, with restaurants, cafes, groceries, and pharmacies performing at high national percentiles, which supports day-to-day convenience and helps with resident retention.
Renter demand depth is notable: an estimated 72.8% of housing units in the neighborhood are renter-occupied, indicating a large tenant base and reinforcing the outlook for leasing velocity. Neighborhood occupancy has trended in the mid-90% range, which, while not a guarantee, generally supports income stability for professionally managed multifamily.
Within a 3-mile radius, demographics show a large population base with rising incomes and a projected increase in households over the next five years, expanding the potential renter pool and supporting occupancy stability. While the past few years included some population softness, forecasts point to renewed growth in households, which is typically constructive for multifamily demand.
Ownership costs in the area are elevated by national standards, and neighborhood asking rents also place in higher tiers nationally. For investors, this combination often sustains reliance on rental housing and supports pricing power, but it also calls for attentive lease management to balance rent growth with retention. Notably, park space is limited nearby, which may modestly affect lifestyle appeal, whereas school ratings sit above average nationally, offering a balanced family-livability profile.
Safety trends warrant a measured view. Compared with neighborhoods nationwide, this area sits in lower safety percentiles, and within the Anaheim–Santa Ana–Irvine metro it ranks below the median (crime rank 418 out of 516). That said, recent data indicates property offenses have eased year-over-year, suggesting some improvement in trend even as overall levels remain elevated versus national norms.
Investors should underwrite with prudent operating assumptions and consider measures that enhance on-site visibility, lighting, and resident engagement, while recognizing that comparative safety is one factor among many in an otherwise convenience-rich, employment-accessible location.
Proximity to major employers supports a steady commuter renter base and can aid retention. Key nearby employment nodes include First American Financial, Prudential, Microsoft Technology Center, Western Digital, and Xerox.
- First American Financial — corporate offices (1.6 miles) — HQ
- Prudential — corporate offices (3.2 miles)
- Microsoft Technology Center — corporate offices (3.3 miles)
- Western Digital — corporate offices (3.5 miles) — HQ
- Xerox — corporate offices (4.1 miles)
This 60-unit, 1978-vintage asset is positioned in a high-amenity Orange County neighborhood with a deep renter base and historically strong neighborhood occupancy. Elevated home values and higher-tier asking rents help sustain reliance on multifamily, while the surrounding 3-mile radius shows rising incomes and a projected increase in households — a setup that can support rent growth and leasing stability when paired with active management. According to CRE market data from WDSuite, neighborhood occupancy has held in the mid-90% range, reinforcing the thesis of durable demand.
Vintage implies potential value-add: systems and interiors may benefit from targeted renovations and capital planning to remain competitive against newer stock. Balanced against this are manageable affordability pressures (relative to incomes) and proximity to major employers, though investors should weigh safety headwinds and the limited park footprint in underwriting and resident-experience strategies.
- Top-quartile neighborhood standing within the metro and strong amenity access support retention and leasing stability.
- Large renter-occupied share indicates a deep tenant base and supports occupancy durability.
- 1978 vintage presents value-add and modernization opportunities to enhance competitive positioning.
- Household and income growth within 3 miles expands the prospective renter pool over the medium term.
- Key risks: below-median metro safety rankings and limited nearby park space; mitigate via on-site enhancements and targeted resident programming.