| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 95th | Best |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1448 Monterey Blvd, Hermosa Beach, CA, 90254, US |
| Region / Metro | Hermosa Beach |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2021-12-07 |
| Transaction Price | $30,000,000 |
| Buyer | MANHATTAN AVE PROPERTIES LLC |
| Seller | REVOCABLE TRUST |
1448 Monterey Blvd Hermosa Beach Multifamily Investment
Amenity-rich coastal location with a high-income renter base supports pricing power and lease retention, according to WDSuite’s CRE market data.
Hermosa Beach’s Urban Core setting offers daily-life convenience that helps sustain renter demand. The neighborhood is competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 138 out of 1,441) with strong access to cafes, groceries, restaurants, and parks that score in high national percentiles, according to WDSuite’s commercial real estate analysis. Top-rated local schools (No. 1 out of 1,441 metro neighborhoods; top percentile nationally) further bolster family-oriented appeal and aid retention for well-located assets.
At the neighborhood level, the renter-occupied share is 38.2%, indicating a sizable tenant base for a coastal submarket. While neighborhood occupancy has trended upward over the past five years, it remains below national medians, suggesting operators should emphasize leasing management and renewals to sustain performance. Elevated home values in the area (among the highest nationally) create a high-cost ownership market, which typically reinforces reliance on multifamily housing and supports rent durability.
Within a 3-mile radius, population and household counts have edged higher over the last five years, with further household growth projected alongside slightly smaller average household sizes. This combination generally expands the renter pool and supports occupancy stability. Income levels in the same 3-mile radius are notably high and rising, which can underpin demand for renovated or well-amenitized units and support rent levels consistent with coastal Los Angeles comparables.
For context on product positioning, the neighborhood’s average construction year is close to the early-1970s profile. Investors often compete via targeted renovations, modern amenity packages, and professional management that aligns with premium local schools and convenience retail.
Safety indicators compare favorably versus national norms. The neighborhood scores around the 70th+ percentile nationally for overall and violent offense safety, while property offenses sit near the national middle, based on WDSuite’s CRE market data. Recent-year trends point to a meaningful decline in violent incidents. Compared with many Los Angeles-Long Beach-Glendale neighborhoods, this area reads as above average on safety, which can aid leasing and retention.
Nearby corporate employment anchors support renter demand and commute convenience for professionals, including roles in entertainment, technology, and aviation services. The following employers are within a practical commute and can help stabilize tenant demand reflected in renewals and new leases.
- Mattel — consumer products HQ (3.9 miles) — HQ
- Southwest Airlines Counter — aviation services (5.7 miles)
- Microsoft Offices The Reserves — technology offices (7.8 miles)
- Abbott Laboratories — healthcare & diagnostics (10.7 miles) — HQ
- Activision Blizzard — interactive entertainment (11.2 miles) — HQ
This 24-unit coastal asset benefits from a high-income renter base, exceptional neighborhood amenities, and top-ranked schools that collectively support rent durability and renewal outcomes. While neighborhood occupancy sits below national medians, it has improved over the past five years; disciplined leasing and targeted upgrades can help capture demand from professionals priced out of homeownership in this high-cost ownership market.
Proximity to major employers across entertainment, technology, and healthcare adds depth to the tenant base and underpins steady leasing, while household and income growth within a 3-mile radius point to ongoing renter pool expansion. According to CRE market data from WDSuite, the area’s amenity density and relative safety compare favorably, reinforcing the property’s positioning against coastal Los Angeles comps.
- High-income renter base and top-ranked local schools support pricing power and retention
- Amenity-rich coastal location with strong dining, retail, and parks enhances leasing velocity
- Employer proximity (entertainment, tech, healthcare) broadens tenant demand and stabilizes occupancy
- 3-mile radius household and income growth indicate a larger tenant base over time
- Risk: Neighborhood occupancy remains below national medians; active renewal and leasing management are important