| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 818 S Flower St, Santa Ana, CA, 92703, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1982 |
| Units | 24 |
| Transaction Date | 1999-02-18 |
| Transaction Price | $100,000 |
| Buyer | 3796 NORTHGATE LLC |
| Seller | DERISH SETH DAVID |
818 S Flower St Santa Ana Multifamily Investment
Neighborhood-level occupancy has remained resilient and renter demand is reinforced by a high renter-occupied share, according to WDSuite’s CRE market data. This positioning supports stable leasing for a 24-unit asset in Orange County’s urban core.
Situated in Santa Ana’s Urban Core, the property benefits from strong everyday convenience: grocery and restaurant density ranks above most metro peers and sits in the upper percentiles nationally, supporting walkable access to essentials and services. Median home values are elevated relative to income in the neighborhood, which tends to sustain reliance on multifamily rentals and can aid tenant retention.
For investors screening stability, the neighborhood’s occupancy is above the metro median among 516 neighborhoods and in the top quartile nationally. The renter-occupied share is also competitive among Anaheim–Santa Ana–Irvine neighborhoods and ranks in the top decile nationally, indicating a broad tenant base for smaller-format units like those at 818 S Flower St.
Construction year norms in this area skew older (average vintage mid-20th century). With a 1982 build, the asset is newer than much of the surrounding stock, offering relative competitiveness; however, investors should budget for system modernization and common-area refreshes consistent with four-decade-old buildings.
Demographic indicators aggregated within a 3-mile radius show households have edged higher even as total population has modestly contracted, suggesting smaller household sizes and a steady renter pool. Income levels have strengthened and median contract rents have risen over the past five years, a pattern that can support pricing while keeping rent-to-income at manageable levels for lease management.
Counterpoints to weigh include below-average school ratings in the neighborhood compared with national benchmarks and mixed macro-resilience indicators, which may influence family-oriented demand but are often less critical for studios and smaller units. Overall, local amenity access and sustained renter concentration remain key positives for multifamily performance.
Safety trends are mixed. Relative to the 516 neighborhoods in the Anaheim–Santa Ana–Irvine metro, the area sits below the metro average on crime measures and falls below the national median for safety. That said, recent year-over-year data indicate declining estimated rates for both violent and property offenses, pointing to incremental improvement rather than deterioration.
Investors should underwrite with conservative assumptions for security, lighting, and access control, while noting the downward trend in estimated incidents and the broader urban core context.
Proximity to established employers supports workforce housing demand and commute convenience, including Xerox, First American Financial, Microsoft Technology Center, Prudential, and Western Digital.
- Xerox — business services (2.2 miles)
- First American Financial — title insurance (2.6 miles) — HQ
- Microsoft Technology Center — technology (4.6 miles)
- Prudential — financial services (4.8 miles)
- Western Digital — data storage (5.0 miles) — HQ
818 S Flower St is a 24-unit 1982-vintage asset positioned in an urban neighborhood with above-median metro occupancy and top-quartile national standing, supporting durable leasing. Elevated local home values relative to incomes reinforce multifamily reliance, while amenity density and commuter access broaden the day-to-day appeal for renters. According to CRE market data from WDSuite, the neighborhood maintains a high share of renter-occupied units and strong occupancy, aligning with smaller-average unit sizes typical of workforce housing.
Within a 3-mile radius, households have increased even as total population edged down, implying smaller household sizes and a resilient renter base. Income growth and five-year rent gains point to sustained demand; however, investors should plan for targeted capital projects consistent with a 1980s build and underwrite conservatively for safety and school-quality considerations.
- Occupancy above metro median and top-quartile nationally supports leasing stability
- High renter-occupied share and strong amenity access deepen the tenant base
- Elevated ownership costs locally tend to sustain multifamily demand and retention
- 1982 vintage offers relative competitiveness vs. older stock with value-add via modernization
- Risks: below-median safety and lower school ratings; budget for security and CapEx