| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 36th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7121 21st St, Westminster, CA, 92683, US |
| Region / Metro | Westminster |
| Year of Construction | 1978 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7121 21st St Westminster 21-Unit Multifamily Investment
Neighborhood renter demand and solid occupancy underpin stable operations, according to WDSuite s CRE market data, with ownership costs in Orange County positioning rentals as a primary housing option.
Located in Westminster within the Anaheim Santa Ana Irvine metro, the property sits in an Urban Core neighborhood rated C (ranked 366 among 516 metro neighborhoods). Street-level conveniences are strong: grocery access is in the 97th percentile nationally, restaurants in the 96th, parks in the 93rd, and pharmacies in the 83rd, though cafes and childcare are comparatively sparse. For investors, this mix supports day-to-day livability and leasing appeal without overreliance on destination amenities.
Multifamily fundamentals are constructive at the neighborhood level. Occupancy is 95.5% (74th percentile nationally), and renter concentration is high, with 64.3% of housing units renter-occupied (95th percentile nationally). Median contract rent is elevated relative to many U.S. submarkets (88th percentile nationally), while neighborhood NOI per unit trends in the upper tier (73rd percentile). Taken together, these indicators point to steady tenant demand and competitive positioning for stabilized operations.
Home values in the neighborhood are among the highest nationally (95th percentile), and the value-to-income ratio ranks in the 99th percentile, signaling a high-cost ownership market that reinforces reliance on multifamily rentals and can support pricing power and lease retention. Lease management should still weigh rent-to-income dynamics: the neighborhood s rent-to-income ratio is elevated, which warrants attention to renewal strategies and unit mix.
Demographic statistics aggregated within a 3-mile radius indicate modest population contraction but a growing household count and smaller average household sizes over the next five years, implying a larger tenant base spread across more households. Rising median incomes and forecast rent growth in the trade area support sustained renter demand and help underpin occupancy stability, based on CRE market data from WDSuite.
Safety signals are mixed and should be underwritten with care. The neighborhood s overall crime rank is 369 among 516 metro neighborhoods, indicating higher crime levels than the metro median and placing it below the national average for safety (36th percentile nationally). Property crime compares unfavorably to national benchmarks (9th percentile for safety), while violent crime metrics also sit below national averages (24th percentile).
Recent trend data offers a partial counterbalance: estimated property offense rates declined meaningfully year over year, with improvement outpacing many U.S. neighborhoods (73rd percentile for rate of decline). Investors often address these conditions through targeted security measures and tenant communications to support retention and operational stability.
The location draws on a diverse employment base that supports renter demand and commute convenience, including packaging, telecommunications, title & financial services, and healthcare and technology headquarters noted below.
- INTERNATIONAL PAPER Cypress Retail Packaging packaging (2.9 miles)
- Time Warner Business Class telecommunications (8.0 miles)
- First American Financial title & financial services (9.3 miles) HQ
- Molina Healthcare healthcare services (11.3 miles) HQ
- Western Digital technology (11.4 miles) HQ
7121 21st St totals 21 units with 1978 construction. The vintage is slightly newer than the neighborhood s average stock (1973), offering relative competitiveness versus older assets while still presenting potential value-add through modernization of interiors, systems, and curb appeal. Neighborhood indicators show resilient occupancy, a high share of renter-occupied housing, and elevated home values that reinforce renter reliance on multifamily housing. According to CRE market data from WDSuite, area livability is supported by strong access to groceries, restaurants, parks, and pharmacies, which benefits leasing and renewal prospects.
Trade-area demographics within a 3-mile radius point to a rising household count and smaller household sizes over the next five years, expanding the tenant base despite modest population contraction. Forecast income gains and rent growth support revenue durability, though investors should underwrite affordability pressure (high rent-to-income ratios) and neighborhood safety headwinds alongside routine capex planning for a late-1970s asset.
- High renter concentration and strong neighborhood occupancy support demand stability
- 1978 vintage offers value-add potential with competitive positioning versus older stock
- High-cost ownership market bolsters renter reliance and pricing power
- 3-mile area shows growing household counts and rising incomes, supporting leasing
- Risks: elevated rent-to-income ratios and below-average safety warrant disciplined underwriting