| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 36th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 280 Hospital Cir, Westminster, CA, 92683, US |
| Region / Metro | Westminster |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2010-02-01 |
| Transaction Price | $4,300,000 |
| Buyer | AMCAL ROYALE FUND LP |
| Seller | WESTMINSTER REDEVELOPMENT AGENCY |
280 Hospital Cir Westminster 20-Unit Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive occupancy in the Anaheim–Santa Ana–Irvine metro, according to WDSuite’s CRE market data.
The property sits in Westminster’s Urban Core, where neighborhood occupancy is competitive among Anaheim–Santa Ana–Irvine neighborhoods (ranked 135 out of 516). This supports income stability for multifamily assets, particularly in submarkets with durable renter bases.
Renter concentration in the immediate neighborhood is in the top quartile among 516 metro neighborhoods (59% of housing units are renter-occupied), indicating a deep tenant pool and consistent leasing velocity. Within a 3-mile radius, household counts have edged up while average household size has been trending lower, which typically expands the renter pool and supports occupancy.
Daily-needs access is a relative strength: grocery and pharmacy availability benchmark near the top nationally (both above the 90th percentile), and parks coverage is also strong. Restaurant density is above national averages, while café and childcare density are limited locally, which investors should account for when positioning amenities.
Home values in the neighborhood are elevated (mid-90s national percentile), and asking rents benchmark high as well (low-90s percentile). In practice, a high-cost ownership market tends to reinforce reliance on multifamily housing, supporting retention and pricing power when asset quality and management are aligned. Where rent-to-income ratios approach lease-management thresholds, proactive renewals and value-for-money positioning help sustain performance based on multifamily property research from WDSuite.
Safety indicators for the neighborhood track below metro averages (crime rank 362 out of 516), and national comparisons place the area below the midpoint. Recent trends show an improvement in property incidents over the last year, which is constructive, but investors should underwrite with conservative assumptions and consider security-forward operations and lighting/camera upgrades as part of capital planning.
Commuter access connects residents to a diverse employment base, supporting renter demand and lease retention. Notable nearby employers include International Paper, Time Warner Business Class, First American Financial, Xerox, and Western Digital.
- International Paper — packaging (3.1 miles)
- Time Warner Business Class — telecommunications offices (8.2 miles)
- First American Financial — title & insurance (8.9 miles) — HQ
- Xerox — business services (9.0 miles)
- Western Digital — data storage (11.1 miles) — HQ
This 20-unit Westminster asset benefits from a renter-heavy neighborhood profile, competitive occupancy among 516 Anaheim–Santa Ana–Irvine neighborhoods, and strong daily-needs accessibility. Within a 3-mile radius, households are increasing while average household size trends lower, indicating a larger tenant base and support for sustained leasing. Elevated ownership costs locally further sustain reliance on rentals, aiding retention and measured pricing power.
Built in 1976, the property may warrant targeted modernization and systems planning to protect NOI and capture value-add upside versus older competitive stock. According to CRE market data from WDSuite, asking rents and home values benchmark high relative to national peers, which supports long-term revenue potential when paired with disciplined lease management and amenity positioning. Key underwriting considerations include safety metrics that trail metro norms and selective amenity gaps (e.g., cafés/childcare density), both manageable with operational focus.
- Competitive neighborhood occupancy supports income stability
- Deep renter concentration provides a consistent tenant base
- Strong daily-needs access (grocery, pharmacy, parks) enhances livability
- 1976 vintage offers value-add and systems-upgrade avenues
- Risks: below-metro safety rankings and limited café/childcare density