| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 36th | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7141 21st St, Westminster, CA, 92683, US |
| Region / Metro | Westminster |
| Year of Construction | 1982 |
| Units | 20 |
| Transaction Date | 2012-03-12 |
| Transaction Price | $2,060,000 |
| Buyer | NGUYEN HOAI THE |
| Seller | TRAN PHUONG THUY |
7141 21st St, Westminster CA Multifamily Investment
Neighborhood occupancy remains resilient and renter concentration is high, signaling a deep tenant base for a 20-unit asset, according to WDSuite’s CRE market data. This supports consistent leasing in a high-cost ownership market while warranting attentive lease management to balance pricing power and retention.
The property sits in Westminster within the Anaheim–Santa Ana–Irvine metro, where neighborhood metrics point to steady renter demand. The share of housing units that are renter-occupied is elevated (above the vast majority of neighborhoods nationwide), reinforcing depth in the tenant pool and supporting occupancy stability at the neighborhood level. Median home values rank in the top decile nationally, which indicates a high-cost ownership market that can sustain multifamily demand and bolster lease retention for well-managed assets.
Retail and daily-needs access are strong relative to national peers: grocery availability is in the top percentile range and restaurants are also high, with pharmacies and parks similarly competitive. These amenity concentrations help underpin renter appeal and reduce friction for day-to-day living, an important factor for workforce-oriented multifamily assets.
Neighborhood occupancy trends are above the national median, and average NOI per unit is also above national midpoints, based on CRE market data from WDSuite. At the same time, rent-to-income levels indicate notable affordability pressure, suggesting thoughtful renewal strategies may be needed to sustain lease terms while managing turnover risk.
Construction in the area skews earlier than the subject’s 1982 vintage, which can position this asset competitively versus older local stock. For investors, that implies potential to capture demand with selective modernization to common areas and building systems to extend useful life and support rents without overcapitalizing.
Demographic statistics are aggregated within a 3-mile radius: households have grown recently and are projected to expand further even as overall population trends edge lower, reflecting smaller household sizes. This dynamic typically supports a larger renter base over time and can help stabilize occupancy, particularly for smaller units averaging around 544 square feet at the property level.
Safety indicators for the neighborhood are mixed when compared nationally. Overall crime ranks below the metro median (366 out of 516 metro neighborhoods), placing the area below average nationally. However, recent year trend data show a material improvement in property-related incidents, which supports a cautiously constructive view on near-term safety momentum.
Nationally benchmarked percentiles indicate violent offense levels sit below national midpoints, while property offense measures are weaker but improving on a year-over-year basis. For investors, the key takeaway is to underwrite with conservative assumptions, monitor trend continuity, and consider security and lighting upgrades as part of standard CapEx planning.
The surrounding employment base blends manufacturing, telecom, financial services, and healthcare, providing diversified demand and commute convenience that can support leasing stability. Featured employers include International Paper, Time Warner Business Class, First American Financial, Xerox, and Molina Healthcare.
- INTERNATIONAL PAPER Cypress Retail Packaging — manufacturing/packaging (2.9 miles)
- Time Warner Business Class — telecom/business services (8.0 miles)
- First American Financial — title & financial services (9.3 miles) — HQ
- Xerox — business services (9.5 miles)
- Molina Healthcare — healthcare services (11.3 miles) — HQ
7141 21st St offers exposure to a renter-heavy neighborhood with occupancy levels above national medians and a high-cost ownership backdrop that supports multifamily demand. According to CRE market data from WDSuite, neighborhood amenity access is strong for groceries, restaurants, parks, and pharmacies, helping sustain renter appeal and lease-up velocity. The 1982 vintage is newer than much of the surrounding stock, suggesting competitive positioning with room for targeted value-add to modernize systems and common areas.
Within a 3-mile radius, households have been rising and are projected to increase further even as overall population trends soften, indicating smaller households and a potential expansion of the renter pool. Underwriting should account for elevated rent-to-income levels and monitor local safety trends, balancing pricing with retention-focused operations.
- Renter-heavy neighborhood and above-median occupancy support demand depth
- High-cost ownership market underpins leasing and retention potential
- Strong daily-needs amenities (groceries, restaurants, parks, pharmacies) enhance livability
- 1982 vintage enables targeted value-add and competitive positioning versus older stock
- Risks: elevated rent-to-income and mixed safety metrics call for conservative underwriting and active lease management