| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 48th | Fair |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12025 Pioneer Blvd, Norwalk, CA, 90650, US |
| Region / Metro | Norwalk |
| Year of Construction | 1972 |
| Units | 29 |
| Transaction Date | 2010-06-02 |
| Transaction Price | $3,050,000 |
| Buyer | PINERIDGE APARTMENT COMPANY LP |
| Seller | LUGANO PROPERTY GROUP LLC |
12025 Pioneer Blvd, Norwalk CA Multifamily Investment
Neighborhood fundamentals point to durable renter demand and above-median occupancy for the area, according to WDSuite’s CRE market data, supporting a steady operating backdrop for a 1972 vintage, 29-unit asset.
The property sits in Norwalk within the Los Angeles-Long Beach-Glendale metro, where the surrounding neighborhood is rated B and posts occupancy that is above the national median for neighborhoods; note this occupancy describes the neighborhood, not the property. According to WDSuite, neighborhood occupancy ranks 608 out of 1,441 metro neighborhoods (Above metro median) and sits in the 77th percentile nationally, suggesting comparatively stable leasing conditions for multifamily owners.
Local livability indicators are mixed but serviceable for workforce renters. Grocery, parks, and pharmacy access land in higher national percentiles (grocery 88th, parks 89th, pharmacy 79th), while restaurants are moderately represented (71st) and cafes are sparse. Average school ratings around 3.3 out of 5 (70th percentile nationally) can help with family retention. These amenities support day-to-day convenience rather than destination appeal, which typically aligns with steady occupancy rather than premium rent positioning.
Housing dynamics are constructive for rentals. The neighborhood’s renter-occupied share is around two-fifths of housing units (78th percentile nationally), indicating a sizable tenant base. Elevated home values and a high value-to-income ratio (both above the 90th percentile nationally) point to a high-cost ownership market that tends to sustain renter reliance on multifamily housing and can support pricing power with prudent lease management.
Demographic statistics aggregated within a 3-mile radius show relatively flat population trends in recent years alongside a modest increase in households by the forecast period, driven by smaller average household sizes. This shift typically expands the renter pool and supports occupancy stability even when headline population growth is muted. For investors conducting commercial real estate analysis, these trends imply depth in day-to-day leasing demand with limited exposure to boom-bust migration cycles.
Vintage considerations matter: the asset’s 1972 construction contrasts with a much newer average construction year for the neighborhood (2007, competitive among 1,441 metro neighborhoods). Older stock often benefits from targeted capital plans and value-add upgrades to remain competitive relative to newer deliveries, providing potential to capture rent premiums through modernization.
Safety indicators for the neighborhood are mixed relative to both metro and national benchmarks. Based on WDSuite data, the area’s safety rank is 1,171 out of 1,441 metro neighborhoods, placing it below the metro median. Nationally, safety sits in the lower third of neighborhoods, indicating that investors should underwrite with attention to security measures and tenant experience.
Recent trends show property offenses easing slightly year over year, while violent incidents have seen an uptick. These signals can vary by block and over time; prudent operators often address this with well-lit common areas, access controls, and coordination with local resources. Comparatively, the neighborhood is not among the top quartile nationally for safety, so expense assumptions for security and preventative maintenance should be evaluated accordingly.
The nearby employment base features logistics, manufacturing, and corporate services that support local renter demand and commute convenience for workforce housing. Notable employers within a short drive include Raytheon Public Safety RTC, LKQ, International Paper, Coca-Cola Downey, Time Warner Business Class, and Edison International.
- Raytheon Public Safety RTC — defense & aerospace offices (2.1 miles)
- LKQ — auto parts distribution (2.5 miles)
- International Paper — paper & packaging (2.5 miles)
- Coca-Cola Downey — beverage operations (2.6 miles)
- Time Warner Business Class — telecommunications services (3.8 miles)
- Edison International — utilities & corporate services (9.1 miles) — HQ
This 29-unit 1972-vintage asset in Norwalk benefits from neighborhood-level occupancy that is above metro medians and in the upper national percentiles, according to CRE market data from WDSuite. The area’s renter-occupied concentration and high-cost ownership landscape underpin a dependable tenant base, while day-to-day amenities (strong grocery, parks, and pharmacy access) support retention. Given the older vintage relative to the neighborhood’s newer stock, a focused renovation plan can sharpen competitiveness and unlock value-add potential.
Within a 3-mile radius, household counts are expected to edge higher even as population growth remains muted, reflecting smaller household sizes and a potential widening of the renter pool. Employers across defense/aerospace, logistics, and corporate services within 2–10 miles bolster commute convenience and can help stabilize leasing through cycles. Underwriting should incorporate prudent allowances for security and capital expenditures, but the broader fundamentals favor steady income with targeted upgrades.
- Neighborhood occupancy (not property) above metro medians supports income stability
- High-cost ownership market reinforces renter reliance and pricing resilience
- 1972 vintage offers clear value-add and capital planning opportunities
- Diverse nearby employers aid demand and retention
- Risks: below-median safety rankings and older systems warrant security and CapEx focus