| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 44th | Fair |
| Amenities | 42nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11217 Barnwall St, Norwalk, CA, 90650, US |
| Region / Metro | Norwalk |
| Year of Construction | 1974 |
| Units | 60 |
| Transaction Date | 2022-01-28 |
| Transaction Price | $45,600,000 |
| Buyer | RAINTREE NORWALK LLC |
| Seller | AIR VILLA DEL SOL LP |
11217 Barnwall St Norwalk Multifamily Investment
This 60-unit property built in 1974 operates in a neighborhood with 100% occupancy and strong rental fundamentals, according to CRE market data from WDSuite.
The Norwalk neighborhood demonstrates exceptional occupancy performance, ranking first among 1,441 Los Angeles metro neighborhoods with 100% occupancy rates. This top-tier metric reflects strong rental demand dynamics that support consistent cash flow for multifamily operators. The area maintains a healthy 40.9% share of renter-occupied units, placing it in the 81st percentile nationally and indicating robust tenant demand.
Built in 1974, this property aligns with the neighborhood's average construction year of 1982, suggesting potential value-add opportunities through strategic renovations and modernization. Median contract rents of $1,763 have grown 8.5% over five years, demonstrating pricing power while remaining affordable relative to the $86,365 median household income within a 3-mile radius.
The property benefits from strong childcare density with 1.98 facilities per square mile, ranking in the 92nd percentile nationally and supporting family-oriented tenant retention. Pharmacy access also ranks highly at the 94th percentile, contributing to neighborhood convenience. Home values averaging $629,263 have appreciated 34% over five years, reinforcing rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
Crime metrics show mixed performance relative to the Los Angeles metro area. Property offense rates rank 1,133rd among 1,441 metro neighborhoods, though these rates have declined 29.4% year-over-year, placing the improvement trend in the 73rd percentile nationally. Violent crime rates similarly improved 27.5% annually, with this positive trajectory ranking in the 74th percentile among metro neighborhoods.
Overall crime performance places the neighborhood at the 50th percentile nationally, indicating average safety conditions compared to similar urban markets. Investors should monitor these improving trends as they may support tenant retention and property values over time.
The property benefits from proximity to diverse corporate employers that support workforce housing demand, including technology, defense, and industrial operations within a reasonable commuting radius.
- Time Warner Business Class — telecommunications services (2.5 miles)
- Raytheon Public Safety RTC — defense & aerospace offices (2.8 miles)
- LKQ — automotive parts distribution (3.4 miles)
- Coca-Cola Downey — beverage manufacturing (3.4 miles)
- Molina Healthcare — healthcare services (10.5 miles) — HQ
This 60-unit property offers compelling fundamentals anchored by exceptional neighborhood occupancy performance and improving safety trends. The 100% occupancy rate ranking first among 1,441 Los Angeles metro neighborhoods demonstrates sustained rental demand, while the 1974 construction year presents value-add opportunities through strategic capital improvements. Demographics within a 3-mile radius show household income growth of 35.9% over five years, supporting rent growth potential, and projected median income increases to $133,959 by 2028 reinforce long-term tenant purchasing power.
Multifamily property research indicates the neighborhood's 81st percentile national ranking for renter occupancy share provides stability for lease-up and renewals. The property's NOI per unit averaging $10,861 places it in the 84th percentile among metro properties, reflecting strong operational performance. However, investors should monitor the area's limited amenity density, with grocery and cafe access ranking in the bottom percentiles, which may impact long-term tenant retention.
- Top-ranked occupancy performance at 100% neighborhood level
- Value-add potential through 1974 vintage modernization
- Strong household income growth supporting rent escalation
- Improving crime trends with 29% property offense reduction
- Risk: Limited grocery and retail amenity access may affect retention