| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 47th | Fair |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10402 Imperial Hwy, Norwalk, CA, 90650, US |
| Region / Metro | Norwalk |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10402 Imperial Hwy Norwalk Multifamily Investment Opportunity
This 24-unit property operates in a neighborhood showing full occupancy and above-average median rents, supported by strong household income growth and a concentrated grocery retail base according to CRE market data from WDSuite.
Located in Norwalk within the Los Angeles-Long Beach-Glendale metro, this Inner Suburb neighborhood ranks in the 56th percentile nationally for crime and 75th percentile for housing fundamentals. Neighborhood-level occupancy stands at 100%, placing it at the top of the metro's 1,441 neighborhoods, while median contract rent of $1,779 ranks in the 87th percentile nationally—well above the metro median. These trends reflect stable rental demand in a market where renter-occupied units comprise 14.1% of housing stock, limiting multifamily density but supporting lease retention among existing tenants.
Built in 1972, the property predates the neighborhood's 1975 average construction year. Older vintage assets in this market often present value-add upside through unit renovations, common-area improvements, or utility upgrades that can capture rent premiums as household incomes continue to rise. Median household income within a 3-mile radius reached $87,292 in 2023, up 35% over five years, and is projected to climb to $120,569 by 2028—a 38% increase that supports sustained rental demand and pricing power.
The neighborhood benefits from high grocery density (3.36 stores per square mile, 91st percentile nationally), enhancing day-to-day tenant convenience and walkability. However, amenity infrastructure is uneven: the area ranks in the 15th percentile nationally for overall amenity density, with zero cafes, childcare centers, parks, pharmacies, and restaurants per square mile. This gap may limit appeal to renters prioritizing live-work-play environments, though the strong grocery presence and proximity to employment centers help offset these deficiencies.
Home values in the neighborhood median at $637,432 (91st percentile nationally) and have appreciated 50% over five years. Elevated ownership costs sustain rental demand by limiting accessibility to homeownership, reinforcing reliance on multifamily housing. The rent-to-income ratio of 0.18 sits in the 35th percentile nationally, indicating moderate affordability pressure that requires attentive lease management but remains within ranges typical of high-cost California markets. Schools average a 2.0 rating out of five (37th percentile), which may influence family tenant profiles but does not materially constrain demand in a metro defined by workforce housing needs.
The neighborhood ranks 709th of 1,441 Los Angeles metro neighborhoods for crime—above the metro median and in the 56th percentile nationally. Property offense rates stand at 460.4 incidents per 100,000 residents, placing the area in the 39th percentile nationwide, while violent offense rates of 69.5 per 100,000 rank in the 37th percentile. Both property and violent crime declined approximately 29% year-over-year, trends that rank in the 72nd and 74th percentiles nationally for improvement, signaling recent progress in public safety.
For investors, these figures suggest a neighborhood experiencing measurable crime reduction, though absolute rates remain moderate compared to lower-density or higher-income submarkets. Tenant perception and retention may benefit from continued improvement, and property management should maintain standard security protocols—lighting, access control, and community engagement—to support lease renewals and minimize turnover risk.
The property sits within convenient commuting distance of diversified corporate offices that support workforce housing demand, including aerospace, manufacturing, and utilities employers.
- Raytheon Public Safety RTC — defense & aerospace offices (0.9 miles)
- Coca-Cola Downey — beverage manufacturing (1.5 miles)
- International Paper — packaging & paper products (3.5 miles)
- LKQ — automotive parts distribution (4.0 miles)
- Edison International — utilities & energy services (9.6 miles) — HQ
This 24-unit property in Norwalk offers exposure to a neighborhood demonstrating full occupancy, above-average rents, and strong household income growth within the Los Angeles metro. Neighborhood-level occupancy of 100% ranks first among 1,441 metro neighborhoods, while median contract rent of $1,779 sits in the 87th percentile nationally. Median household income within a 3-mile radius increased 35% over five years to $87,292 and is projected to reach $120,569 by 2028, expanding the renter pool and supporting lease renewals. Elevated home values (median $637,432, up 50% over five years) reinforce rental demand by limiting ownership accessibility, a dynamic that sustains tenant retention in high-cost California markets.
Built in 1972, the property predates the neighborhood's 1975 average, presenting potential value-add upside through targeted unit and common-area renovations that can capture rent premiums as incomes rise. Proximity to diversified employers—including Raytheon, Coca-Cola, and Edison International—supports stable workforce housing demand. However, investors should weigh limited amenity density (15th percentile nationally) and moderate crime rates (56th percentile nationally, with recent 29% year-over-year declines) when modeling tenant profiles and lease management strategies. The low renter-occupied share (14.1%) reflects a predominantly owner-occupied market, which may constrain multifamily supply but also limits competitive rental inventory.
- Neighborhood-level occupancy at 100% ranks first in the Los Angeles metro, signaling robust demand
- Median household income growth of 35% over five years, with further 38% increase projected by 2028
- Elevated home values sustain rental demand by limiting ownership accessibility in a high-cost market
- 1972 vintage offers value-add potential through renovations to capture rising rent premiums
- Limited amenity density and low renter-occupied share may constrain tenant appeal and require targeted marketing