| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 12th | Poor |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 820 N Spurgeon St, Santa Ana, CA, 92701, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
820 N Spurgeon St Santa Ana Multifamily Opportunity
Neighborhood occupancy sits in the low-to-mid 90s with a high share of renter-occupied units, according to WDSuite’s CRE market data, pointing to durable tenant demand for smaller assets.
Located in Santa Ana’s Urban Core, the immediate neighborhood shows steady renter demand with occupancy above national norms and a renter-occupied share that is among the highest in the metro. These are neighborhood measures, not property-level metrics, but they indicate a deep tenant base that can support leasing stability for a 20-unit asset.
Daily needs and dining are a clear strength. The area ranks near the top of the metro for restaurants and groceries per square mile and is top quartile nationally for cafes and pharmacies, according to WDSuite. Limited parks and childcare within the neighborhood footprint may require residents to look to adjacent districts for those amenities.
On pricing and affordability, neighborhood median contract rents trend above national levels, while rent-to-income sits closer to the middle of the pack nationally—suggesting some pricing power but the need for thoughtful lease management. Elevated home values and a high value-to-income ratio signal a high-cost ownership market, which tends to sustain multifamily demand and retention.
Within a 3-mile radius, households have grown even as overall population edged down, implying smaller household sizes and a gradual shift toward more, smaller households entering the rental market. Looking ahead, local forecasts point to further increases in household counts and incomes, supporting a larger tenant base and potential for stable occupancy. These neighborhood and radius trends are comparative context and should be paired with property-specific underwriting.
Safety indicators for the neighborhood track below national averages and below the metro median among 516 Anaheim–Santa Ana–Irvine neighborhoods, based on CRE market data from WDSuite. Recent readings show year-over-year declines in property offenses and a flat-to-slightly improving trend in violent offenses, but levels remain elevated compared with many U.S. neighborhoods. Investors typically account for this with enhanced security measures, insurance assumptions, and leasing strategies.
Proximity to established corporate employers underpins renter demand and commute convenience for workforce tenants. Nearby anchors include Xerox, First American Financial, Microsoft, Prudential, and Western Digital, which together provide a diverse white-collar employment base within a short drive.
- Xerox — corporate offices (1.5 miles)
- First American Financial — title and financial services (3.5 miles) — HQ
- First American Financial Corporation — title and financial services (3.5 miles)
- Microsoft Technology Center — technology offices (5.4 miles)
- Prudential — financial services (5.6 miles)
- Western Digital — data storage technology (5.8 miles) — HQ
This 20-unit asset benefits from neighborhood fundamentals that favor rentals: high renter concentration, occupancy above national norms, and a strong amenity footprint for food, groceries, and services. Elevated ownership costs in the area tend to sustain reliance on multifamily housing, while neighborhood rents sit above national averages without appearing stretched relative to local incomes, according to CRE market data from WDSuite.
Within a 3-mile radius, household counts have risen and are projected to expand further alongside income growth, pointing to a larger tenant base and potential support for occupancy stability. Key underwriting considerations include below-average school ratings, limited nearby parks/childcare, and safety that trails metro and national benchmarks—factors that can be mitigated with targeted capex, security, and resident-experience programming.
- High neighborhood renter concentration and occupancy support lease-up and retention
- Dense dining, grocery, and pharmacy access enhances livability for tenants
- High-cost ownership market reinforces depth of the renter pool
- 3-mile radius shows rising households and incomes, supporting demand
- Risks: safety below metro averages, weaker school ratings, and limited parks/childcare