It's very close to the famous Casa Bonita restaurant that I LOVED as a kid, complete with Cliff Divers and horrible food.
Other than that... well, it's really not that bad. Colfax itself is quite run down in that area (think used car dealers and crumbling strip malls), but as you know there's tons of apartments around your area. In fact, It's almost entirely rental housing anywhere nearby, and not really swanky rentals at that. So, it's missing that pride-of-ownership thing, but I wouldn't call it unsafe by any means.