| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 36th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6952 Westpark Pl, Westminster, CA, 92683, US |
| Region / Metro | Westminster |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | 2020-11-23 |
| Transaction Price | $9,600,000 |
| Buyer | 6952 WESTPARK PLACE LLC |
| Seller | ARMSTRONG LOUIS M |
6952 Westpark Pl Westminster 32-Unit Multifamily Investment
Renter demand is supported by a high-cost ownership market and solid neighborhood occupancy, according to WDSuite’s CRE market data. The property’s 1977 vintage and scale position it for pragmatic value-add while maintaining leasing stability in Orange County.
Located in Westminster within the Anaheim–Santa Ana–Irvine metro, the neighborhood shows competitive amenity access for daily needs, with strong grocery, restaurant, park, and pharmacy density compared with many U.S. areas. The amenity rank places the area competitive among 516 metro neighborhoods, while café and childcare density is thinner—operators should plan for resident conveniences on-site or through partnerships.
Neighborhood occupancy is in the top quartile nationally, indicating resilient leasing conditions. Renter-occupied share is high (renter concentration), which deepens the tenant base and supports demand for multifamily. Elevated home values versus national norms signal a high-cost ownership market that tends to sustain rental reliance and can aid retention and pricing power for well-managed assets.
Within a 3-mile radius, recent trends show slightly lower population but an increase in households—pointing to smaller household sizes and steady formation of renting households. Forward-looking estimates suggest further household growth, which can expand the renter pool and support occupancy and rent performance over time. Median and mean household incomes have been rising, strengthening qualification depth; however, higher rent-to-income levels in the neighborhood warrant attentive lease management and renewals.
Schools in the area are mixed relative to national benchmarks, and the neighborhood’s overall rating sits around the metro middle. For multifamily property research, the combination of everyday amenity access, renter depth, and high ownership costs creates a durable demand backdrop, while operators should underwrite to moderate growth assumptions and ongoing unit-level improvements to remain competitive.
Safety indicators are below the metro average and sit below the national median, suggesting investors should plan for routine security measures and resident communication. Even so, recent data points to a meaningful decline in property offenses year over year, which is a constructive trend to monitor for operational planning.
Framed against other Anaheim–Santa Ana–Irvine neighborhoods (516 total), the area’s safety rank places it in the lower tier locally, while national percentiles indicate it trails many U.S. neighborhoods. The recent downward movement in property crime provides some improvement momentum, but underwriting should still incorporate market-standard safety protocols and lighting/camera investments as appropriate.
Nearby employers span packaging, telecommunications, financial services, and healthcare, supporting a diverse commuter base and steady leasing from a range of office-oriented workers. The list below highlights key names that can influence tenant demand through commute convenience.
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging (2.9 miles)
- Time Warner Business Class — telecommunications (8.0 miles)
- First American Financial — title & financial services (9.5 miles) — HQ
- First American Financial Corporation — title & financial services (9.5 miles)
- Molina Healthcare — healthcare services (11.1 miles) — HQ
Constructed in 1977, the property fits the area’s 1970s vintage profile and offers practical value-add opportunities through unit renovations and modernization of building systems to improve competitive positioning against older stock. Neighborhood occupancy trends remain solid and renter concentration is high, while elevated for-sale housing costs reinforce reliance on multifamily. According to CRE market data from WDSuite, rent levels in the area have risen over time, and forward estimates point to continued support from a growing household base within 3 miles.
Key considerations include household growth (expanding renter pool), strong everyday amenity access, and top-quartile national occupancy—balanced against affordability pressures evident in rent-to-income metrics and safety indicators that sit below the metro average. Underwriting that prioritizes retention, targeted upgrades, and market-standard security investments can position the asset for stable performance.
- 1977 vintage with clear value-add potential via unit/capex upgrades
- High renter concentration and top-quartile national occupancy support demand durability
- High-cost ownership market in Orange County underpins renter reliance and retention
- Household growth within 3 miles expands the tenant base and supports rents over time
- Risks: affordability pressures (rent-to-income) and safety below metro average require attentive management