| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 33rd | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 17045 Passage Ave, Bellflower, CA, 90706, US |
| Region / Metro | Bellflower |
| Year of Construction | 1977 |
| Units | 48 |
| Transaction Date | 1999-03-11 |
| Transaction Price | $2,220,000 |
| Buyer | PASSAGE INVESTORS LLC |
| Seller | PARK WEST PARTNERS LLC |
17045 Passage Ave Bellflower Multifamily Investment
Stabilized renter demand and high neighborhood occupancy point to durable income potential, according to WDSuite’s CRE market data. The location offers daily-needs access and regional connectivity, with value-add potential driven by an older housing stock nearby.
Bellflower’s Urban Core setting provides strong day-to-day convenience for residents: grocery and dining density ranks competitive nationally (both around the 95th percentile), while cafes, parks, and pharmacies are limited within neighborhood boundaries. For investors, this mix suggests dependable foot-traffic for essentials and consistent renter appeal even without destination retail on the block.
Neighborhood occupancy is approximately 98% and ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods, indicating tight vacancies that can support leasing stability and pricing discipline. Median contract rents and home values sit in the upper national percentiles, signaling a high-cost ownership market that tends to sustain multifamily demand and lease retention.
Tenure patterns show renter-occupied housing comprises roughly half of units locally, indicating depth in the tenant base; within a 3-mile radius, renter concentration is similarly near half, reinforcing demand for mid-market product types. Household incomes trend above national medians and have risen in recent periods, which supports collections and reduces near-term affordability pressure.
Demographic statistics aggregated within a 3-mile radius point to a largely steady population over the last five years with a modest decline, while household counts increased and are projected to rise further as average household sizes edge lower. This combination typically expands the renter pool and supports occupancy stability over time, based on commercial real estate analysis from WDSuite.
School ratings in the immediate area are below national norms, which can shape the resident mix toward workforce and young adult households rather than school-driven movers. Overall, the submarket context remains competitive among metro peers for essential retail access and occupancy, with opportunities for value-oriented repositioning in an older housing landscape.
Relative to Los Angeles-Long Beach-Glendale metro peers, the neighborhood’s safety profile ranks in the lower tier (below the metro median among 1,441 neighborhoods). Nationally, safety falls in the lower third of neighborhoods, reflecting elevated reported incidents versus the U.S. baseline.
Recent trends show estimated property and violent offense rates declining modestly year over year, which suggests incremental improvement but not a resolved risk. Investors should underwrite with prudent security planning and consider operational measures that support retention and community perception.
Proximity to diversified employers supports a steady commuter tenant base and reduces turnover risk. Nearby firms span industrial gases, public safety/defense, beverages, telecom services, and industrial manufacturing.
- Airgas — industrial gases (1.1 miles)
- Raytheon Public Safety RTC — defense & public safety (3.9 miles)
- Coca-Cola Downey — beverages (4.0 miles)
- Time Warner Business Class — telecom services (5.1 miles)
- Air Products & Chemicals — industrial gases (6.6 miles)
This 48-unit Bellflower asset is positioned in a tight rental pocket where neighborhood occupancy ranks in the top quartile metro-wide, supporting income stability and predictable leasing. Elevated home values and a high value-to-income ratio in the neighborhood reinforce renter reliance on multifamily housing, while household incomes provide cushion for rent levels and collections.
Demographic indicators within a 3-mile radius show relatively flat population but growing household counts, with projections for further household expansion as average household size declines. According to CRE market data from WDSuite, these dynamics typically enlarge the tenant base and sustain occupancy, while the area’s essential retail access underpins day-to-day livability. Key underwriting considerations include below-average school ratings, limited park/cafe density, and a safety profile that trails metro averages despite recent improvement.
- Tight neighborhood occupancy supports leasing stability and pricing discipline
- High-cost ownership market sustains renter demand and retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Essential retail concentration (groceries/dining) supports resident convenience
- Risks: lower school ratings, limited parks/cafes, and below-metro safety require prudent operations