| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 22nd | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1221 S Greenwood Ave, Montebello, CA, 90640, US |
| Region / Metro | Montebello |
| Year of Construction | 1985 |
| Units | 32 |
| Transaction Date | 2013-01-22 |
| Transaction Price | $5,325,000 |
| Buyer | LEE CHARLES L |
| Seller | ELETREBY LIMITED PARTNERSHIP |
1221 S Greenwood Ave, Montebello CA Multifamily Investment
Stabilized renter demand in Montebello’s inner-suburban fabric supports income durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends and a deep renter base position this 32-unit asset for consistent leasing in a high-cost ownership market.
Located in Montebello within the Los Angeles-Long Beach-Glendale metro, the neighborhood shows steady renter appeal supported by everyday amenities. Cafes and restaurants are dense, landing in the top quartile nationally, and grocery options are similarly strong — factors that tend to aid leasing velocity and resident retention. By contrast, limited childcare and pharmacy presence suggests some residents may rely on nearby districts for certain services.
Neighborhood occupancy is 93.9% (neighborhood metric, not the property), a level that signals generally healthy absorption and supports income stability. Within the metro’s 1,441 neighborhoods, food-and-beverage access is competitive, while parks availability tracks above national averages, offering livability advantages without depending on destination amenities.
Housing dynamics tilt toward renters: within a 3-mile radius, an estimated 53% of housing units are renter-occupied, indicating meaningful depth in the tenant pool for multifamily. Median contract rents in the neighborhood sit in higher national percentiles, yet the rent-to-income relationship remains manageable locally, which can help sustain lease retention and reduce turnover risk.
Demographic statistics aggregated within a 3-mile radius point to modest population contraction in recent years alongside smaller average household size. Projections indicate an increase in households and rising incomes, expanding the effective renter pool and supporting occupancy stability over the medium term. In Los Angeles’s high-cost ownership context, elevated home values reinforce continued reliance on rental housing, which can support pricing power for well-managed assets.
Neighborhood safety indicators are mixed. Overall crime compares below the national median, while estimated violent and property offense rates track around the middle to modestly safer than the national midpoint. Recent neighborhood data indicates a year-over-year uptick in property offenses; investors should underwrite prudent security and operational protocols and monitor trends at the neighborhood level rather than block-specific assumptions.
As with most Los Angeles inner-suburban locations, safety can vary by block and over time. A comparative approach — evaluating trends versus the broader region and peer neighborhoods — is advisable for risk-adjusted underwriting and asset management planning.
The surrounding employment base blends manufacturing, beverage, utilities, and automotive parts — a mix that supports workforce housing demand and commute convenience for renters. Nearby employers include International Paper, Coca-Cola Downey, Raytheon Public Safety RTC, Edison International, and LKQ.
- International Paper — packaging & paper (3.7 miles)
- Coca-Cola Downey — beverage operations (3.9 miles)
- Raytheon Public Safety RTC — defense & training (4.3 miles)
- Edison International — utilities (5.0 miles) — HQ
- LKQ — automotive parts distribution (7.2 miles)
1221 S Greenwood Ave is a 32-unit asset built in 1985, newer than the neighborhood’s average vintage, which can provide a competitive edge versus older stock while still leaving room for targeted modernization and systems upgrades. Neighborhood occupancy is 93.9% (neighborhood, not property), and within a 3-mile radius about 53% of units are renter-occupied — dynamics that support a stable tenant base and consistent leasing. Elevated home values in Los Angeles County reinforce renter reliance on multifamily housing, while neighborhood rents sit in higher national percentiles; together, these factors can support pricing power and retention when paired with disciplined operations.
According to CRE market data from WDSuite, food-and-beverage and grocery access rank well nationally, aiding livability and leasing fundamentals. Forward-looking 3-mile statistics point to rising incomes and an increase in households alongside smaller household sizes, suggesting a broader renter pool over time. Investors should also weigh operational risks typical of inner-suburban Los Angeles, including variable safety trends and selective gaps in neighborhood services, with mitigation via screening, site-level security, and asset-specific improvements.
- 1985 vintage offers competitive positioning versus older stock with clear value-add and modernization pathways
- Strong amenity access (cafes, restaurants, groceries) supports leasing and resident retention
- Neighborhood occupancy and deep renter concentration underpin demand and income stability
- Risks: mixed but improving safety indicators and limited childcare/pharmacy options require proactive management