| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 35th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13607 Cordary Ave, Hawthorne, CA, 90250, US |
| Region / Metro | Hawthorne |
| Year of Construction | 1973 |
| Units | 115 |
| Transaction Date | 2018-08-16 |
| Transaction Price | $18,500,000 |
| Buyer | Cordary Apt Llc |
| Seller | WBCMT 2007-C31 Apartments 13607 LP, Corporation, LNR Partners LLC; Steven Ferreira, Price/unit and /sf |
13607 Cordary Ave, Hawthorne Multifamily Investment
Neighborhood occupancy trends point to durable renter demand and above-median stability, according to WDSuite’s CRE market data, supported by a deep renter base and proximity to major employers.
Positioned in Hawthorne’s Urban Core, the property benefits from a neighborhood rated B+ and competitive among Los Angeles-Long Beach-Glendale’s 1,441 neighborhoods. Amenity access is a clear strength, with dense coverage of groceries, restaurants, cafes, pharmacies, and childcare options, which supports daily convenience and reinforces renter appeal. The notable gap is park space, which is limited locally and may matter for some family renters.
For multifamily operators, the neighborhood’s occupancy level sits above national medians, and the renter-occupied share of housing units is very high (roughly mid‑80s%), indicating a deep tenant pool and potential for steady leasing. Median contract rents in the neighborhood are elevated versus many U.S. areas, which, paired with a rent-to-income ratio near one-third, suggests affordability pressure to monitor for retention and renewal management.
Demographic statistics aggregated within a 3-mile radius show households have inched up recently and are projected to grow further by 2028 alongside rising median incomes, supporting a larger tenant base over the medium term. Even as population trends have been mixed in recent years, smaller average household sizes and forecast household gains point to incremental multifamily demand that can support occupancy and lease-up.
Vintage matters for competitive positioning: the asset was built in 1973, slightly older than the neighborhood average stock from the mid‑1970s. That age profile can support a value‑add strategy focused on unit refreshes and system upgrades to defend rent levels against newer product while planning for capital items over the hold.
Safety indicators are generally around the better half nationally, with recent year‑over‑year declines in both violent and property offenses, pointing to improving conditions. Within the Los Angeles metro context, the neighborhood is competitive rather than top‑tier on safety; investors should underwrite to continued operational best practices while noting the favorable direction of change.
The location serves a broad workforce across toys/entertainment, airline services, and technology, supporting renter demand through commute convenience to nearby employment hubs including Mattel, Southwest Airlines, Symantec, Microsoft, and Air Products & Chemicals.
- Mattel — consumer products/HQ functions (2.98 miles) — HQ
- Southwest Airlines Counter — airline services (4.36 miles)
- Symantec — cybersecurity (6.15 miles)
- Microsoft Offices The Reserves — technology offices (6.72 miles)
- Air Products & Chemicals — industrial gases (9.08 miles)
This 115‑unit, 1973 vintage community sits in a renter‑heavy Urban Core pocket of Hawthorne where occupancy is above national medians and neighborhood amenities are dense, supporting day‑to‑day convenience and leasing stability. Elevated home values in the area indicate a high‑cost ownership market, which tends to reinforce reliance on multifamily housing and can aid retention for well‑managed workforce units. According to CRE market data from WDSuite, neighborhood income performance and occupancy are competitive versus national benchmarks, while recent crime trends have improved year over year.
The asset’s older vintage and average unit size around 681 sq. ft. suggest practical value‑add levers (interiors and targeted system upgrades) to maintain competitiveness against newer stock. Near‑term risks include rent‑to‑income pressure and lower school ratings, but proximity to major employers and projected household growth within a 3‑mile radius support a durable tenant base over the medium term.
- Renter‑heavy neighborhood supports depth of tenant demand and occupancy stability.
- Dense amenity coverage and proximity to key employers bolster leasing and retention.
- 1973 vintage offers value‑add potential via interior refresh and system upgrades.
- High‑cost ownership market adds support for multifamily demand and pricing power.
- Risks: affordability pressure (rent‑to‑income near one‑third) and lower school ratings; prudent lease management and positioning recommended.