| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15631 Williams St, Tustin, CA, 92780, US |
| Region / Metro | Tustin |
| Year of Construction | 1973 |
| Units | 110 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
15631 Williams St Tustin 110-Unit Multifamily Opportunity
Neighborhood occupancy has remained firm and renter concentration is high, supporting durable leasing performance according to WDSuite’s CRE market data. In a high-cost ownership market within Orange County, stabilized renter demand is a key underpinning for income resilience at the submarket level.
Located in Tustin’s Urban Core, the property benefits from a deep renter base: the neighborhood’s share of renter-occupied housing is among the highest in the metro (ranked against 516 neighborhoods) and sits in the top tier nationally, indicating a broad tenant pool and generally reliable demand for multifamily units. Neighborhood occupancy is also in the top quartile nationally, a favorable backdrop for lease-up and retention dynamics.
Daily needs and lifestyle amenities are a clear strength. Grocery access ranks at the very top among metro neighborhoods (out of 516) and restaurants, parks, and cafes are all competitive at the national level, contributing to livability that supports leasing. One gap to note is limited pharmacy presence locally, which may slightly reduce convenience for some residents but is typically manageable given broader Orange County access.
The homeownership landscape skews high-cost relative to incomes (value-to-income stands in a high national percentile), which tends to reinforce renter reliance on multifamily housing and supports pricing power when managed thoughtfully. At the same time, rent-to-income ratios sit in a low national percentile, signaling affordability pressure that warrants careful lease management and renewal strategies to protect retention.
Built in 1973, the asset is slightly newer than the neighborhood’s average vintage and may benefit from targeted modernization of interiors and building systems. For investors following multifamily property research, this positioning can support a value-add program aimed at enhancing unit finishes and operational efficiency while remaining competitive versus older nearby stock.
Within a 3-mile radius, recent data show a modest population decline alongside an increase in households and a projected rise in household counts by 2028, implying smaller household sizes and a steady or expanding renter pool over time. Rising median incomes in the 3-mile area further support rent collections and bolster the case for selective upgrades, while acknowledging that household formation patterns are shifting.
Safety trends are mixed and should be evaluated in context. Relative to the Anaheim–Santa Ana–Irvine metro (516 neighborhoods), the neighborhood’s crime rank sits below the metro median, indicating crime levels that are elevated versus many local peers. Nationally, however, the area trends around average to slightly better, with overall safety measures near the middle of the pack.
Year-over-year momentum is constructive: estimated violent and property offense rates have declined materially over the past year, placing those improvements in stronger national percentiles. For underwriting, this suggests recent directional gains but still calls for standard operational precautions and engagement with professional security best practices typical for urban Orange County assets.
Proximity to a diversified employment base supports renter demand and commute convenience, with nearby concentrations in technology, financial services, and corporate services reflected below.
- Xerox — corporate offices (0.7 miles)
- First American Financial — financial services (2.6 miles) — HQ
- Microsoft Technology Center — technology (4.1 miles)
- Prudential — financial services (4.4 miles)
- Western Digital — technology & storage (4.6 miles) — HQ
15631 Williams St combines a high-renter neighborhood profile with strong amenity access and top-quartile occupancy, supporting income stability in a high-cost ownership market. Based on CRE market data from WDSuite, rents and NOI potential are competitive relative to national benchmarks in similar urban Orange County neighborhoods, while the 1973 vintage provides a practical platform for targeted value-add to drive yield without overextending capital plans.
Within a 3-mile radius, households have been increasing and are projected to expand further by 2028 even as average household size trends lower, pointing to a larger tenant base and persistent demand for rental units. Investors should balance these strengths against affordability pressure and mixed school quality, applying thoughtful renewal strategies and unit positioning to sustain retention and pricing.
- Deep renter-occupied housing base and top-quartile neighborhood occupancy support leasing stability.
- High-cost ownership market reinforces reliance on multifamily, aiding demand and pricing power.
- 1973 vintage offers value-add potential via targeted modernization of interiors and systems.
- 3-mile household growth and rising incomes expand the tenant base and support collections.
- Risks: affordability pressure (rent-to-income), below-average school ratings, and local safety variability warrant prudent leasing and operations.