| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 60th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 821 Austin Ave, Inglewood, CA, 90302, US |
| Region / Metro | Inglewood |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 2016-10-28 |
| Transaction Price | $5,350,000 |
| Buyer | PREFERRED APARTMENTS LLC |
| Seller | MARKENSON WILLIAM |
821 Austin Ave Inglewood Multifamily Investment
This 24-unit property benefits from strong neighborhood rental demand, with 76% of local housing units occupied by renters according to CRE market data from WDSuite.
Located in an urban core neighborhood ranking in the top quartile nationally for housing fundamentals, this Inglewood location offers strong rental market dynamics. The area maintains a 92.7% occupancy rate with 76% of housing units renter-occupied, significantly above national averages for rental concentration.
Built in 1989, this property aligns with the neighborhood's average construction year of 1974, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older area buildings. Median contract rents of $2,092 reflect the area's competitive pricing, while demographic data within a 3-mile radius shows household income growth of 40% over five years, supporting tenant retention and rental demand.
The neighborhood demonstrates strong amenity density with nearly 7 grocery stores per square mile (98th percentile nationally) and robust restaurant access. Home values averaging $792,000 create affordability pressures that reinforce rental demand, as elevated ownership costs keep households in the rental market longer. Population projections within the 3-mile radius indicate 2.5% growth through 2028, expanding the potential tenant base.
Property crime rates in the neighborhood show significant improvement trends, with a 61% decrease over the past year placing the area in the 92nd percentile nationally for crime reduction. Current property offense rates rank in the middle tier among the 1,441 Los Angeles metro neighborhoods, while violent crime rates have declined 76% year-over-year, positioning the area in the 96th percentile for violent crime improvement.
These positive safety trends support tenant retention and can enhance the property's competitive position for lease renewals and new tenant attraction in the broader Inglewood market.
The surrounding area benefits from proximity to major corporate employers that provide workforce housing demand, including technology and entertainment companies within commuting distance.
- Symantec — technology services (1.7 miles)
- Southwest Airlines Counter — aviation operations (2.4 miles)
- Microsoft Offices The Reserves — technology offices (3.3 miles)
- Mattel — consumer products HQ (3.6 miles)
- Activision Blizzard — gaming & entertainment HQ (5.9 miles)
This 24-unit Inglewood property presents a stable rental market opportunity supported by strong local fundamentals. The neighborhood's 76% renter-occupied housing concentration significantly exceeds national averages, while median household income growth of 40% over five years within the 3-mile radius supports tenant quality and retention. Built in 1989, the property represents newer stock relative to the neighborhood average, potentially reducing near-term capital expenditure needs.
According to multifamily property research from WDSuite, the area demonstrates improving safety metrics with substantial crime reductions and ranks in the top quartile nationally for housing market strength. High home values averaging $792,000 create ownership barriers that sustain rental demand, while projected population growth of 2.5% through 2028 should expand the tenant pool.
- Strong rental market fundamentals with 76% renter-occupied housing concentration
- Household income growth of 40% over five years supports tenant quality
- 1989 construction year reduces immediate capital expenditure risk
- High ownership costs ($792K median home values) reinforce rental demand
- Monitor rent-to-income ratios in 4th percentile nationally for affordability pressure