| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 48th | Fair |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11811 Pioneer Blvd, Norwalk, CA, 90650, US |
| Region / Metro | Norwalk |
| Year of Construction | 1972 |
| Units | 45 |
| Transaction Date | 2014-06-20 |
| Transaction Price | $7,150,000 |
| Buyer | PALANI GROUP #12 LLC |
| Seller | PIONEER PLAZA APARTMENT LLC |
11811 Pioneer Blvd Norwalk Multifamily Investment
This 45-unit property from 1972 sits in a neighborhood with 95.9% occupancy and strong grocery store access. CRE market data from WDSuite indicates the area maintains above-average rental demand fundamentals.
The property sits in an Urban Core neighborhood that ranks in the top quartile nationally for housing metrics among the Los Angeles-Long Beach-Glendale metro's 1,441 neighborhoods. With 38.2% of housing units renter-occupied, the area provides a solid tenant base for multifamily properties. Demographic statistics aggregated within a 3-mile radius show a median household income of $95,035, with projected growth to $128,029 by 2028, supporting rental affordability and lease renewal potential.
The 1972 construction year aligns closely with the neighborhood's average vintage of 2007, though the property's older age suggests potential value-add opportunities through strategic capital improvements. Neighborhood-level occupancy trends remain strong at 95.9%, ranking in the 77th national percentile, which indicates stable absorption and renewal rates for area properties.
Local amenities support tenant retention with 2.66 grocery stores per square mile, ranking in the 88th national percentile nationally. The area also features 1.33 parks per square mile and adequate pharmacy access. School ratings average 3.33 out of 5, placing the neighborhood in the 70th national percentile, which appeals to family renters. Contract rents in the immediate neighborhood average $1,695, with 29.2% growth over five years, demonstrating pricing power for well-positioned properties.
Property crime rates in the neighborhood show 460 incidents per 100,000 residents annually, placing it in the middle range among Los Angeles metro neighborhoods at rank 783 of 1,441. The area ranks in the 39th national percentile for property crime, indicating moderate safety conditions relative to neighborhoods nationwide. Property crime rates decreased 1.2% year-over-year, suggesting improving trends.
Violent crime rates are lower at 89 incidents per 100,000 residents, though the neighborhood ranks 966 of 1,441 metro neighborhoods and in the 33rd national percentile. Investors should consider these safety metrics when evaluating tenant retention, insurance costs, and property management requirements. The mixed safety profile suggests careful attention to security features and tenant screening may be warranted.
The property benefits from proximity to established corporate offices that provide workforce housing demand within a reasonable commute distance.
- Raytheon Public Safety RTC — defense & aerospace offices (2.0 miles)
- International Paper — manufacturing offices (2.4 miles)
- LKQ — automotive parts distribution (2.5 miles)
- Coca-Cola Downey — beverage operations (2.6 miles)
This 45-unit property offers value-add potential through its 1972 vintage, which provides renovation upside while benefiting from a neighborhood with strong occupancy fundamentals. The area's 95.9% occupancy rate ranks in the 77th national percentile, indicating stable rental demand. Demographic projections show household growth of 43.1% through 2028, expanding the potential tenant base, while median household income is forecast to increase 34.7% to $128,029, supporting rent growth potential.
Commercial real estate analysis from WDSuite shows the neighborhood maintains competitive rental fundamentals with contract rents averaging $1,695 and 29.2% growth over five years. The property's location near established employers like Raytheon and International Paper provides workforce housing demand, while strong grocery store density supports tenant retention. However, investors should factor in potential capital expenditure needs given the property's age and monitor safety metrics that rank below metro averages.
- Strong neighborhood occupancy at 95.9% ranks in top quartile nationally
- Projected 43.1% household growth through 2028 expands tenant base
- Value-add opportunity through 1972 vintage property improvements
- Proximity to major employers supports workforce housing demand
- Risk: Property crime and safety metrics rank below metro averages