| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 45th | Fair |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11625 Firestone Blvd, Norwalk, CA, 90650, US |
| Region / Metro | Norwalk |
| Year of Construction | 1989 |
| Units | 27 |
| Transaction Date | 2011-12-13 |
| Transaction Price | $42,250,422 |
| Buyer | VERANDA ASSOCIATES LP |
| Seller | IMT CAPITAL II PALM COUNTRY CLUB LLC |
11625 Firestone Blvd Norwalk Multifamily Investment
This 27-unit property benefits from neighborhood-level occupancy of 97.9% and elevated home values that sustain rental demand in the Los Angeles metro. According to WDSuite's CRE market data, the area shows strong fundamentals for multifamily investors seeking stable cash flow.
The Norwalk neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for housing metrics, with neighborhood-level occupancy at 97.9% and NOI per unit averaging $11,144. Demographics within a 3-mile radius show household income growth of 38% over five years, reaching a median of $95,209, while renter-occupied units comprise 38% of housing stock, providing depth for multifamily tenant demand.
Home values of $609,638 and a value-to-income ratio in the 90th percentile nationally limit ownership accessibility, reinforcing reliance on rental housing. The property's 1989 construction year aligns with neighborhood averages, suggesting potential value-add opportunities through strategic renovations while maintaining competitive positioning among area properties.
Projected demographic trends indicate household growth of 42% through 2028 within the 3-mile radius, with median household income expected to reach $129,530. This expansion in the renter pool, combined with forecast rent growth to $2,426, supports occupancy stability and pricing power for well-positioned multifamily properties in the submarket.
Safety metrics show the neighborhood ranking around the middle among Los Angeles metro neighborhoods, with property offense rates declining 34% year-over-year and violent crime down 25%. While absolute crime levels remain elevated relative to national averages, the improving trend trajectory provides a positive signal for tenant retention and leasing velocity.
The neighborhood's safety profile reflects typical urban core characteristics for the Los Angeles market, with ongoing improvements in crime reduction supporting multifamily fundamentals. Investors should consider security enhancements and tenant screening as standard risk management practices in this market environment.
The surrounding area benefits from proximity to major corporate employers, supporting workforce housing demand and commute convenience for potential tenants.
- Raytheon Public Safety RTC — defense & aerospace (2.1 miles)
- LKQ — automotive parts distribution (2.6 miles)
- Coca-Cola Downey — beverage operations (2.7 miles)
- International Paper — manufacturing (3.0 miles)
- Edison International — utilities (9.6 miles) — HQ
This Norwalk property presents multifamily investors with strong occupancy fundamentals and demographic tailwinds in a market where elevated ownership costs sustain rental demand. The neighborhood's 97.9% occupancy rate and top-quartile housing metrics among metro neighborhoods demonstrate tenant retention strength, while projected household growth of 42% through 2028 within a 3-mile radius supports absorption for well-managed properties.
The 1989 vintage offers value-add potential through strategic capital improvements, while proximity to major employers including Raytheon, LKQ, and Edison International provides employment diversity for the tenant base. Based on CRE market data from WDSuite, median rents are projected to grow 32% to $2,426 by 2028, supporting cash flow growth for properties positioned to capture this upside.
- Neighborhood-level occupancy of 97.9% indicates strong tenant demand and retention
- Projected 42% household growth within 3-mile radius expands renter pool through 2028
- Elevated home values of $609,638 reinforce rental demand over ownership alternatives
- 1989 construction provides value-add opportunities through targeted renovations
- Crime trends improving but absolute levels require ongoing security considerations