| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 56th | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1661 259th St, Harbor City, CA, 90710, US |
| Region / Metro | Harbor City |
| Year of Construction | 1973 |
| Units | 48 |
| Transaction Date | 2024-11-08 |
| Transaction Price | $6,775,000 |
| Buyer | 1661 259TH LLC |
| Seller | 1661 259TH LLC |
1661 259th St Harbor City Multifamily Investment
Steady neighborhood occupancy in the mid-90s and a majority renter-occupied housing base point to durable tenant demand, according to WDSuite’s CRE market data. Elevated ownership costs nearby further support multifamily retention and pricing discipline.
Situated in Harbor City within the Los Angeles metro, the neighborhood carries a B rating and performs above the national median across several CRE indicators, per WDSuite. Neighborhood occupancy is in the mid-90s (measured for the neighborhood, not the property), and housing fundamentals rank above many peers nationally, supporting stable leasing conditions for a 48-unit asset.
Daily needs are convenient: restaurant density sits in the top quartile nationally, and grocery access is also top quartile. Cafe presence and park/pharmacy counts are limited locally, which may modestly temper lifestyle appeal but does not materially detract from core renter demand. Average school ratings are around 3 out of 5, modestly above national norms, which can aid family renter retention.
Renter-occupied housing share in the neighborhood is about 52.7%, placing it high versus U.S. neighborhoods (around the 90th percentile). For investors, that signals a deep tenant base and supports occupancy stability. Median contract rents in the neighborhood are above national norms and have grown meaningfully over five years, while the rent-to-income ratio sits on the lower side nationally, suggesting manageable affordability pressure and potential for disciplined revenue management.
Within a 3-mile radius, demographics show households edging higher over the last five years while the overall population dipped slightly, implying smaller average household sizes and a broader renter pool over time. Looking ahead, forecasts indicate further gains in household counts alongside rising incomes, which supports sustained demand for rental units and reduces leasing volatility. The property’s 1973 vintage is slightly older than the neighborhood’s average stock (1978), implying potential value-add or capital planning opportunities to enhance competitiveness versus newer comparables.
Ownership remains a high-cost option locally relative to incomes, with home values elevated in national terms. For multifamily, this dynamic tends to reinforce renter reliance on apartments, supporting tenant retention and helping sustain occupancy across cycles.
Safety conditions are mixed when viewed against the Los Angeles metro and national context. The neighborhood’s overall crime rank sits in the lower half of metro standings (965 out of 1,441 neighborhoods), and overall safety benchmarks near the 43rd percentile nationally, indicating more incidents than the typical U.S. neighborhood. Investors should calibrate asset management and security practices accordingly.
Trend signals are nuanced: estimated violent offense rates improved sharply year over year (an improvement consistent with a strong national-percentile trend), while property-related offenses are estimated to have ticked up modestly. In short, current levels reflect heavier-than-average incident rates versus national norms, but recent violent-crime trends point to improvement momentum. As always, evaluate property-specific measures and insurer feedback rather than inferring block-level conditions from neighborhood statistics.
Proximity to diversified employers supports a steady renter pipeline and commute convenience for workforce tenants, including chemicals and industrial suppliers, healthcare administration, consumer products, and airline operations.
- Air Products & Chemicals — industrial gases (4.6 miles)
- Molina Healthcare — healthcare administration (6.3 miles) — HQ
- Airgas — industrial supplies (10.3 miles)
- Mattel — consumer products (10.3 miles) — HQ
- Southwest Airlines Counter — airline operations (12.2 miles)
1661 259th St offers scale at 48 units in a neighborhood with above-median national housing metrics and a renter-occupied share that supports depth of demand. Neighborhood occupancy has remained in the mid-90s, and ownership costs are elevated relative to incomes locally—conditions that tend to sustain renter reliance on apartments and support lease retention. According to CRE market data from WDSuite, restaurant and grocery access are both top quartile nationally, further underpinning livability for tenants.
Built in 1973, the asset is slightly older than the neighborhood’s average vintage, pointing to clear value-add or capital planning angles to sharpen competitive positioning against newer stock. Within a 3-mile radius, household counts have risen and are forecast to increase further alongside higher incomes, indicating a larger tenant base even as average household size trends lower—factors that can support occupancy stability and measured rent growth. Key risks include neighborhood crime benchmarks that trail national averages and limited park/cafe amenities, warranting prudent operational strategies.
- Majority renter-occupied neighborhood supports a deep tenant base and stable leasing
- Mid-90s neighborhood occupancy and high-cost ownership market reinforce retention
- 1973 vintage creates value-add and capital planning opportunities versus newer stock
- 3-mile household growth and rising incomes expand the renter pool
- Risk: crime benchmarks below national averages and limited park/cafe options require proactive management