| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 29th | Poor |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9438 Nance Ave, Downey, CA, 90241, US |
| Region / Metro | Downey |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2001-06-01 |
| Transaction Price | $1,580,000 |
| Buyer | WOODSTONE VILLAGE APARTMENTS LLC |
| Seller | RON HEN INVESTMENT |
9438 Nance Ave Downey Multifamily Investment Outlook
Neighborhood-level occupancy trends indicate exceptionally tight renter demand, supporting stable rent rolls in this pocket of Downey, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood rather than the property itself.
Downey’s Urban Core location offers strong rental fundamentals for investors screening Los Angeles County opportunities. Neighborhood occupancy sits in the top tier nationally (ranked against 1,441 metro neighborhoods), a backdrop that typically supports leasing stability and minimizes downtime. Median asking rents for the area track above national norms, and 5‑year rent growth has been solid, signaling durable demand despite cyclical shifts.
Local livability is mixed. Restaurants and pharmacies are competitive versus national peers (restaurants near the upper tiers and pharmacies in a high national percentile), while cafes, groceries, and parks are limited within the neighborhood boundaries. School ratings trend below national averages, which may temper appeal for some family renters, though it can concentrate demand among households that prioritize commute access and value-oriented product.
Within a 3‑mile radius, the renter-occupied share is meaningful alongside a substantial owner base, providing a broad tenant pool for a 20‑unit asset. Forecasts point to growth in households and incomes over the next five years, with a gradual reduction in average household size — factors that typically expand the renter pool and support occupancy stability. Elevated home values in the neighborhood (top national percentile) indicate a high‑cost ownership market, which tends to reinforce reliance on multifamily housing and can aid lease retention.
The property’s 1985 vintage is newer than the neighborhood’s average construction year (1978). That positioning can offer a competitive edge versus older stock, while still leaving room for targeted modernization or systems upgrades to enhance rentability and operating resilience.
Safety indicators are mixed when viewed in context. Overall crime sits below the Los Angeles metro median (rank relative to 1,441 neighborhoods), yet national benchmarking shows comparatively better results for serious incidents: violent offense measures land above the national midpoint and property offense rates are in a high national percentile. Recent year changes show upward movement in estimated offense rates, so investors should underwrite with conservative assumptions and monitor neighborhood trend lines rather than block‑level anecdotes.
The immediate area is supported by a diverse employment base that sustains renter demand and short commute times, including defense/aerospace, beverage, packaging, industrial gases, and a regional utility HQ. The employers below are listed by proximity and reflect the near-term drivers of leasing and retention for workforce-oriented units.
- Raytheon Public Safety RTC — defense & aerospace offices (0.13 miles)
- Coca-Cola Downey — beverage operations/offices (0.64 miles)
- International Paper — packaging & paper (3.12 miles)
- Airgas — industrial gases (4.45 miles)
- Edison International — utilities (8.79 miles) — HQ
9438 Nance Ave benefits from a neighborhood with exceptionally tight occupancy and above‑trend rent levels, supporting durable cash flow potential relative to broader Los Angeles County. Elevated ownership costs locally help sustain multifamily demand and can bolster lease retention, while 3‑mile forecasts indicate an increase in households and incomes that expands the tenant base. Based on CRE market data from WDSuite, the area’s rental dynamics compare favorably to national benchmarks despite uneven amenity depth and below‑average school ratings.
Constructed in 1985, the asset is newer than the neighborhood’s average vintage, which can provide a competitive edge over older comparables. Targeted renovations and system updates may further enhance rentability. Underwriting should account for affordability pressure (rent‑to‑income ratios) and recent safety trend volatility, but strong occupancy and a diversified employment base nearby offset some of these risks.
- Tight neighborhood occupancy supports stable leasing and reduced downtime
- High-cost ownership market reinforces multifamily demand and retention
- 3-mile outlook shows household and income growth, expanding the renter pool
- 1985 vintage offers competitive positioning with potential value-add via modernization
- Risks: affordability pressure, below-average school ratings, and safety trend volatility