| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 46th | Fair |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1029 Magnolia Ave, Gardena, CA, 90247, US |
| Region / Metro | Gardena |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 2025-01-16 |
| Transaction Price | $5,200,000 |
| Buyer | 1029 MAGNOLIA APT LLC |
| Seller | OLSON FAMILY TRUST |
1029 Magnolia Ave Gardena Multifamily Investment
Steady renter demand and high neighborhood occupancy point to durable cash-flow potential, based on CRE market data from WDSuite for the immediate area. The property s scale supports efficient operations in an urban Los Angeles County location.
Situated in Gardena s Urban Core, the immediate neighborhood rates B among 1,441 Los Angeles metro neighborhoods and posts occupancy in the top quintile nationally, according to WDSuite. A renter-occupied share above 60% indicates a deep tenant base, which can support leasing stability for a 28-unit asset.
Daily needs are well served: grocery access and pharmacies are both in very high national percentiles, with a broad restaurant mix nearby. Parks and caf e9 density are comparatively limited, so on-site amenities and unit upgrades can help retention.
Home values are elevated versus national norms, which tends to reinforce reliance on multifamily rentals and can support pricing power and lease retention. Rent-to-income metrics in the neighborhood suggest relatively manageable affordability pressure compared with several coastal Los Angeles submarkets, aiding renewal strategies.
Construction patterns nearby average early 1970s. With a 1973 vintage, the property skews slightly older than newer stock, pointing to value-add opportunities around interiors, curb appeal, and building systems as part of capital planning.
Demographics within a 3-mile radius show households have grown even as population has been roughly flat, and forecasts point to more households alongside smaller average household sizes. For investors, that dynamic generally expands the renter pool and supports occupancy resilience over the medium term.
Safety trends should be evaluated carefully. The neighborhood s overall crime rank is 905 out of 1,441 Los Angeles metro neighborhoods, placing it below the metro average for safety and below the national median. However, WDSuite s estimates indicate double-digit year-over-year declines in both property and violent incidents, an encouraging directional trend to monitor.
For underwriting, investors often account for security line items, lighting, and access controls to support tenant retention while watching whether recent improvement continues relative to the wider region.
Proximity to diversified employers supports workforce housing demand and commute convenience for renters, including roles in consumer products, industrial gases, airline operations, and software. The following nearby employers anchor the area s employment base:
- Mattel d consumer products (6.1 miles) d HQ
- Air Products & Chemicals d industrial gases (6.3 miles)
- Airgas d industrial gases distribution (7.2 miles)
- Southwest Airlines Counter d airline operations (7.4 miles)
- Symantec d software & cybersecurity offices (8.8 miles)
1029 Magnolia Ave offers scale and operational efficiency for a 28-unit asset in Los Angeles County s Urban Core. Neighborhood occupancy is strong and renter concentration is high, supporting leasing durability. Elevated area home values tend to sustain renter reliance on multifamily housing, while rent-to-income dynamics indicate manageable affordability pressure that can aid renewals and reduce turnover, according to CRE market data from WDSuite.
Built in 1973, the asset may benefit from targeted value-add and systems modernization to enhance competitive positioning against newer product. Within a 3-mile radius, household counts have risen and are projected to continue increasing alongside smaller household sizes, which typically expands the renter pool and supports occupancy stability. Investors should balance these fundamentals against local safety considerations and selectively modest school ratings when planning retention strategies and capital budgets.
- High neighborhood occupancy and deep renter base support stable leasing
- Elevated home values reinforce rental demand and pricing power
- 1973 vintage presents clear value-add and systems upgrade pathways
- 3-mile household growth and smaller household sizes expand renter pool
- Risks: below-metro-average safety, limited parks/caf e9 density, and school ratings