| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 56th | Good |
| Amenities | 14th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16619 S Menlo Ave, Gardena, CA, 90247, US |
| Region / Metro | Gardena |
| Year of Construction | 1986 |
| Units | 40 |
| Transaction Date | 2002-04-05 |
| Transaction Price | $1,750,000 |
| Buyer | ARMONA LUIS A |
| Seller | ROBEL JAMES |
16619 S Menlo Ave Gardena Multifamily Investment
This 40-unit property built in 1986 offers value-add potential in a high-occupancy neighborhood, with 97.2% neighborhood-level occupancy rates above metro averages according to WDSuite's CRE market data.
The Gardena neighborhood demonstrates strong rental demand fundamentals, with 60.4% of housing units being renter-occupied — placing it in the top quartile nationally for renter concentration. This substantial tenant base supports multifamily demand stability in the local market. Neighborhood-level occupancy rates of 97.2% exceed typical metro performance, indicating effective tenant retention and limited supply pressure.
Demographics within a 3-mile radius show a stable population base of approximately 154,700 residents, with household income growth of 38% over the past five years to a median of $82,795. Projected household formation through 2028 includes a 37% increase in total households, expanding the renter pool and supporting absorption potential. The property's 1986 construction year positions it 18 years newer than the neighborhood average, suggesting reduced near-term capital expenditure needs compared to older area stock.
Home values averaging $714,300 with 30% appreciation over five years create elevated ownership costs that sustain rental demand. The rent-to-income ratio of 17% indicates manageable affordability for tenants, supporting lease retention. While amenity density ranks below metro averages, restaurant access remains competitive with over 6 establishments per square mile, contributing to neighborhood livability for residents.
The neighborhood demonstrates improving safety trends, ranking 582nd out of 1,441 Los Angeles metro neighborhoods for overall crime metrics — placing it above metro median. Property crime rates declined significantly by 64% year-over-year, while violent crime dropped 64% over the same period, indicating positive trajectory in public safety conditions.
Current crime statistics position the area in the 64th percentile nationally for safety, representing competitive performance among urban core neighborhoods. These improving trends support tenant retention and can contribute to stable occupancy rates over time.
The property benefits from proximity to major corporate employers that support workforce housing demand in the greater Los Angeles market.
- Air Products & Chemicals — industrial gases and chemicals (5.7 miles)
- Mattel — toy manufacturing and consumer products (6.5 miles) — HQ
- Airgas — industrial gas distribution (7.0 miles)
- Southwest Airlines Counter — airline operations (7.9 miles)
- Molina Healthcare — managed healthcare services (9.4 miles) — HQ
This 40-unit Gardena property presents a value-add opportunity in a high-occupancy submarket with strong rental demand drivers. The neighborhood's 97.2% occupancy rate and top-quartile renter concentration of 60.4% indicate sustained multifamily demand. Projected household growth of 37% through 2028 within a 3-mile radius supports future absorption, while elevated home values averaging $714,300 reinforce rental housing reliance among area residents.
The property's 1986 vintage provides 18 years of construction advantage over the neighborhood average, suggesting reduced immediate capital needs while offering renovation upside potential. According to CRE market data from WDSuite, improving safety trends including 64% declines in both property and violent crime rates enhance the investment environment for long-term hold strategies.
- High neighborhood occupancy at 97.2% demonstrates strong tenant retention
- Top-quartile renter concentration supports multifamily demand stability
- Newer vintage than area average reduces near-term capital expenditure risk
- Projected 37% household growth through 2028 expands tenant base
- Risk: Below-average amenity density may limit premium pricing potential