| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 18th | Poor |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 908 N Garfield St, Santa Ana, CA, 92701, US |
| Region / Metro | Santa Ana |
| Year of Construction | 1984 |
| Units | 42 |
| Transaction Date | 1997-09-11 |
| Transaction Price | $1,750,000 |
| Buyer | HRG APARTMENT FUND I |
| Seller | 1DB CORPORATION PROFIT SHARING TRUST |
908 N Garfield St, Santa Ana Multifamily Investment
Neighborhood-level occupancy is strong and renter demand is deep, according to WDSuite s CRE market data, supporting stable cash flow prospects for a 42-unit asset in Santa Ana. Metrics cited reflect neighborhood conditions rather than property performance.
Located in Santa Ana s Urban Core within the Anaheim Santa Ana Irvine metro, the neighborhood carries a B- rating and sits above the metro median for overall performance (rank 288 of 516). Amenity access is a strength: restaurants and everyday retail are dense (restaurants near the 98th percentile nationally, groceries and parks around the mid-to-high 90s), which tends to aid leasing velocity and tenant retention for workforce-oriented multifamily.
The property s 1984 vintage is newer than the neighborhood s average construction year of 1966. For investors, that generally implies more competitive positioning versus older stock in the immediate area, while still planning for systems modernization and selective value-add to meet current renter expectations.
On housing fundamentals, neighborhood occupancy is elevated at 96.8% (82nd percentile nationally), and the share of housing units that are renter-occupied is very high at 87.7% (top nationally), indicating a sizable tenant base and depth of demand for multifamily product. Neighborhood-level NOI per unit trends in the top quartile nationally, signaling competitive income performance relative to peers without implying outcomes for this specific property.
Within a 3-mile radius, demographics show a slight population contraction alongside growth in households and families and smaller average household size over time. That combination typically expands the renter pool and supports occupancy stability by creating more households needing housing. Median household incomes have risen materially in recent years, and home values are elevated locally (high value-to-income ratios), which reinforces reliance on rental housing and can support pricing power when managed carefully. School ratings in the neighborhood are below national medians, an important consideration for family-oriented leasing strategies.
Safety compares less favorably to many metro and national neighborhoods. The area s crime rank is 377 out of 516 Anaheim Santa Ana Irvine neighborhoods, indicating it trails the metro median for safety, and national positioning is also below average. That said, recent trend data shows improvement: estimated property offenses declined roughly a third year over year (top quartile nationally for improvement), and violent offense rates have eased modestly.
For underwriting, investors often incorporate enhanced operating practices (lighting, access controls, and resident engagement) and partnership with local resources, recognizing that safety dynamics are neighborhood-wide and can evolve over time.
Nearby corporate offices anchor a diverse white-collar employment base that supports renter demand and commute convenience for residents, including roles in finance, technology, and insurance: Xerox, First American Financial, Microsoft Technology Center, Prudential, and Western Digital.
- Xerox corporate offices (1.3 miles)
- First American Financial title & settlement services (3.6 miles) HQ
- Microsoft Technology Center technology solutions (5.4 miles)
- Prudential financial services (5.7 miles)
- Western Digital data storage technology (5.9 miles) HQ
908 N Garfield St offers exposure to a high-demand renter pocket of Santa Ana where neighborhood occupancy is strong and renter-occupied concentration is high, supporting depth of tenant demand. The 1984 build is newer than the local average vintage, which can enhance competitiveness versus older stock while leaving room for targeted renovations and systems upgrades to strengthen positioning. Elevated home values in the area tend to sustain rental demand and aid lease retention when affordability is managed. According to CRE market data from WDSuite, neighborhood-level NOI per unit trends in the top quartile nationally, aligning with the broader case for stable income potential at the neighborhood level.
Forward-looking, a 3-mile view shows slight population decline but growth in households and families and smaller household sizes a pattern that generally expands the renter pool and supports occupancy stability. Amenity density is a notable advantage for leasing and renewals, while below-median school ratings and safety that trails metro medians should be weighed in risk management and community programming.
- Strong neighborhood occupancy and deep renter base support demand
- 1984 vintage provides competitive positioning with value-add and modernization upside
- Elevated ownership costs reinforce reliance on rental housing and pricing power
- Amenity-rich Urban Core location aids leasing velocity and retention
- Risks: below-median school ratings, safety below metro median, and affordability pressure require proactive management