| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 52nd | Fair |
| Amenities | 49th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 640 N Wilcox Ave, Montebello, CA, 90640, US |
| Region / Metro | Montebello |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2004-05-25 |
| Transaction Price | $2,800,000 |
| Buyer | YANG XIAO QING |
| Seller | LUNG CHIEN TAUY HORNG |
640 N Wilcox Ave Montebello Multifamily Investment
Neighborhood occupancy is stable with a deep renter base, supporting steady leasing conditions, according to WDSuite’s CRE market data. Renter-occupied housing is prevalent at the neighborhood level, reinforcing demand durability for a 20-unit asset in Montebello.
Located in Montebello’s Urban Core, the property benefits from strong day-to-day convenience. Neighborhood retail access is a standout: grocery availability ranks in the top tier nationally (98th percentile), pharmacies are similarly dense (98th percentile), and restaurants are abundant (99th percentile). By contrast, cafes and parks are limited locally, which may modestly affect lifestyle appeal but rarely drives leasing outcomes for workforce-oriented assets.
Neighborhood occupancy measures around the mid-90s, indicating stable demand for rentals. The share of housing units that are renter-occupied is high (69%), pointing to a sizable tenant pool and generally predictable absorption for multifamily. Median contract rents sit well above national norms (87th percentile), which signals pricing power but also calls for close attention to affordability and retention.
Within a 3-mile radius, demographics show a slight decline in total population alongside stable to rising household counts through 2028, implying smaller household sizes and a steady flow of renters entering the market. Income levels are trending higher over recent years, which helps support rent levels and reduces turnover risk in professionally managed properties.
The neighborhood’s median home values are elevated (93rd percentile nationally), indicating a high-cost ownership market that tends to sustain reliance on rental housing and supports occupancy durability. The property’s 1986 vintage is newer than the neighborhood’s average construction year (1970; rank 731 among 1,441 Los Angeles metro neighborhoods), suggesting relative competitiveness versus older stock while still warranting targeted modernization to enhance rentability.
Safety indicators are mixed but improving in important areas. Overall, the neighborhood sits modestly above the national midpoint (59th percentile for overall crime), with violent crime notably strong in the national context — top quartile nationally (87th percentile) — and trending down year over year. Property crime levels read closer to national mid-to-upper ranges (57th percentile) with recent volatility; investors should underwrite security measures and insurance costs accordingly.
Compared with Los Angeles metro peers, this area is competitive but not top-ranked, and trends can vary block to block. As always, investors should corroborate on-the-ground conditions and recent comparables to align capital plans with resident expectations and leasing strategy.
The employment base within a short drive includes utilities, energy, packaging, beverages, and defense contractors, supporting renter demand via diverse, commute-friendly job nodes. The list below reflects nearby corporate offices likely to influence leasing and retention.
- Edison International — utilities (3.1 miles) — HQ
- International Paper — packaging (5.4 miles)
- Chevron — energy (6.2 miles)
- Coca-Cola Downey — beverages (6.2 miles)
- Raytheon Public Safety RTC — defense & aerospace offices (6.6 miles)
This 20-unit asset at 640 N Wilcox Ave sits in a renter-heavy neighborhood with stable occupancy and elevated replacement costs for ownership. Based on CRE market data from WDSuite, neighborhood rents are positioned well above national norms while occupancy remains resilient, aided by a sizable renter-occupied share. Within a 3-mile radius, households are expected to increase even as population edges lower, pointing to smaller household sizes and a larger tenant base for professionally managed multifamily.
Built in 1986, the property is newer than the area’s typical 1970 vintage, offering relative competitiveness versus older stock and potential upside from selective renovations, common-area refreshes, and efficiency upgrades. Elevated home values in the neighborhood further reinforce reliance on rental housing, supporting lease retention and pricing power when paired with attentive affordability and renewal management.
- Renter-heavy neighborhood supports demand depth and occupancy stability.
- Elevated local rents and high home values sustain pricing power with prudent lease management.
- 1986 vintage offers competitive positioning versus older stock with value-add potential via modernization.
- Risks: property-crime volatility and higher rent levels require security planning and careful renewal strategies.