| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 25th | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12938 Kornblum Ave, Hawthorne, CA, 90250, US |
| Region / Metro | Hawthorne |
| Year of Construction | 1988 |
| Units | 48 |
| Transaction Date | 2004-10-18 |
| Transaction Price | $3,470,000 |
| Buyer | SOUTHERN CA HOUSING DEVELOPMENT CORP |
| Seller | NATIONAL HOUSING DEVELOPMENT CORP |
12938 Kornblum Ave Hawthorne Multifamily Investment
Neighborhood-level occupancy is strong, supporting predictable leasing and cash flow durability, according to WDSuite’s CRE market data.
Situated in Hawthorne within Los Angeles County, the property benefits from a renter-driven neighborhood where an estimated 89.3% of housing units are renter-occupied. For multifamily investors, that renter concentration points to a deep tenant base and stable demand across cycles rather than reliance on for-sale turnover.
The neighborhood’s occupancy ranks 166 out of 1,441 metro neighborhoods, placing it in the top quartile among Los Angeles–Long Beach–Glendale subareas and signaling limited vacancy risk relative to the metro. Median contract rents for the neighborhood track above much of the nation (nationally around the 80th percentile), while the local rent-to-income ratio suggests some affordability pressure that warrants active lease management and renewal strategies.
Livability signals are mixed. Parks access is a clear strength (around the 98th percentile nationally), while restaurants are comparatively available (roughly the 77th percentile). However, grocery and pharmacy density reads low within the immediate neighborhood. Average school ratings trend below national norms, so family-oriented demand may hinge more on unit value, commute convenience, and property-level amenities than on school draw.
Vintage matters: with a 1988 construction year against a neighborhood average vintage near the mid-1960s, the asset is newer than much of the local stock. That positions it competitively versus older buildings while still leaving room for targeted system upgrades or cosmetic renovations to support rent positioning and retention.
Within a 3-mile radius, demographics show a stable to slightly contracting population but a gradual increase in households and families over recent history, with forecasts indicating additional household growth alongside smaller average household sizes. For investors, that points to a potential renter pool expansion and unit absorption that supports occupancy stability even without strong population gains.
Home values in the neighborhood sit high versus national comparisons (around the 95th percentile), reinforcing renter reliance on multifamily housing. This high-cost ownership context can support pricing power for well-maintained assets, though operators should balance rent growth with renewal risk given household budget sensitivity.
Safety indicators are mixed when viewed across benchmarks. Overall neighborhood crime ranks 987 out of 1,441 metro neighborhoods, indicating conditions below the metro average. In national context, violent offense levels trend comparatively safer (around the 65th percentile nationally) and property offense levels also read relatively safer (around the 71st percentile). Recent one-year changes show increases in both categories, so investors should underwrite with attention to trend direction and property-level security measures rather than block-level assumptions.
Nearby employers provide a broad white-collar and services employment base that supports renter demand and commute convenience, including Mattel, Southwest Airlines, Symantec, Microsoft, and Air Products & Chemicals.
- Mattel — toy manufacturing (3.2 miles) — HQ
- Southwest Airlines Counter — airline services (4.3 miles)
- Symantec — cybersecurity (5.9 miles)
- Microsoft Offices The Reserves — technology offices (6.6 miles)
- Air Products & Chemicals — industrial gases (9.2 miles)
This 48-unit, 1988-vintage asset is positioned in a renter-heavy pocket of Hawthorne where neighborhood occupancy ranks in the top quartile of the Los Angeles metro, supporting cash flow visibility. High local home values relative to national benchmarks reinforce long-term renter reliance on multifamily, while the property’s newer vintage versus neighborhood norms provides a competitive edge over older stock with potential for targeted upgrades to enhance rent positioning.
Within a 3-mile radius, household counts have risen and are projected to grow further even as average household size trends lower, pointing to a larger tenant base over time. Operators should balance this demand backdrop with prudent lease management given neighborhood rent-to-income readings and mixed safety trends; according to CRE market data from WDSuite, underwriting that emphasizes renewal quality and property-level security can help sustain occupancy stability.
- Renter-heavy neighborhood and top-quartile metro occupancy support stable leasing
- 1988 vintage offers competitive positioning vs. older local stock with value-add potential
- High home values bolster renter demand and pricing power for well-maintained units
- 3-mile household growth and smaller household sizes expand the potential renter pool
- Risks: affordability pressure, below-metro-average overall crime ranking, and amenity gaps (grocery/pharmacy)