| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 45th | Fair |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13000 Studebaker Rd, Norwalk, CA, 90650, US |
| Region / Metro | Norwalk |
| Year of Construction | 1972 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
13000 Studebaker Rd Norwalk Multifamily Investment
This 50-unit property benefits from neighborhood-level occupancy of 97.9%, ranking in the 88th percentile nationally, alongside median household incomes that have grown 32% over five years, according to CRE market data from WDSuite.
The property sits within an Urban Core neighborhood in the Los Angeles-Long Beach-Glendale metro, rated B- overall among 1,441 metro neighborhoods. Neighborhood-level occupancy stands at 97.9%, ranking 277th and placing it in the 88th percentile nationally—a signal of demand stability that supports consistent absorption and renewal rates. Within a 3-mile radius, the median household income is $90,271, having climbed 35.8% over the past five years, and is projected to reach $122,479 by 2028, a further 35.7% increase. This income trajectory underpins tenant purchasing power and lease retention.
Renter-occupied units represent 40.0% of neighborhood housing stock, ranking in the 80th percentile nationally, indicating a substantial tenant base. Median contract rent in the immediate neighborhood is $2,086, in the 93rd percentile nationally, reflecting strong pricing power, though rent-to-income ratios warrant careful lease management to maintain retention. Median home values in the neighborhood have risen 46.4% over five years to $609,638, ranking in the 90th percentile nationally. Elevated ownership costs sustain rental demand by limiting accessibility to homeownership for a broad segment of the local workforce.
The property was constructed in 1972, slightly older than the neighborhood average of 1973. This vintage suggests potential for value-add renovations or capital expenditure planning to modernize units and capture upside in a high-rent environment. Amenity density is mixed: childcare facilities rank in the 97th percentile nationally at 3.43 per square mile, supporting family-oriented tenant appeal, while restaurants number 12.01 per square mile (92nd percentile). Grocery stores are present at 1.72 per square mile (80th percentile), contributing to everyday convenience. However, parks, cafes, and pharmacies are absent or minimal, which may affect tenant retention for lifestyle-focused renters.
Average neighborhood NOI per unit is $11,144, ranking 233rd among metro neighborhoods and in the 85th percentile nationally, indicating strong operating fundamentals relative to comparable assets. School ratings average 3.0 out of 5, ranking in the 61st percentile nationally—a moderate draw for family households. Looking forward, the 3-mile demographic area is forecast to add households at a 40.7% rate through 2028, expanding the renter pool and supporting occupancy stability in a supply-constrained submarket.
The neighborhood ranks 898th of 1,441 metro neighborhoods for overall crime, placing it near the metro median and in the 46th percentile nationally. Property offense rates are estimated at 1,455 per 100,000 residents, ranking in the 16th percentile nationally, indicating elevated property crime relative to other U.S. neighborhoods. Violent offense rates stand at 192 per 100,000 residents, in the 21st percentile nationally. While these figures warrant attention in underwriting and tenant communication, recent trends show improvement: property offenses declined 33.9% year-over-year (77th percentile nationally for improvement), and violent offenses fell 24.5% (72nd percentile nationally). Investors should monitor these trends and consider security measures or tenant engagement strategies to support retention and reduce turnover risk.
The property benefits from proximity to a diversified base of corporate offices and headquarters that support local workforce housing demand. Key employers within commuting distance include:
- Raytheon Public Safety RTC — defense & aerospace offices (1.5 miles)
- Coca-Cola Downey — beverage manufacturing & distribution (2.1 miles)
- LKQ — automotive parts distribution (3.3 miles)
- International Paper — packaging & paper products (3.4 miles)
- Edison International — energy & utilities (9.8 miles) — HQ
This 50-unit asset in Norwalk presents a value-add opportunity anchored by strong neighborhood-level occupancy (97.9%, 88th percentile nationally) and robust income growth within a 3-mile radius—median household income rose 35.8% over five years and is projected to climb another 35.7% by 2028. Elevated home values (90th percentile nationally) and a 40% renter-occupied housing share reinforce reliance on rental housing, supporting tenant retention and lease-up velocity. Average neighborhood NOI per unit of $11,144 ranks in the 85th percentile nationally, reflecting solid operating fundamentals. The 1972 vintage suggests capital expenditure planning and renovation upside to capture higher rents in a market where neighborhood median contract rent stands at $2,086 (93rd percentile nationally).
Forward demographic trends are favorable: household counts within 3 miles are forecast to grow 40.7% through 2028, expanding the tenant base in a supply-constrained submarket. Proximity to major employers—including Raytheon (1.5 miles), Coca-Cola (2.1 miles), and Edison International headquarters (9.8 miles)—supports commute convenience and workforce housing demand. Crime metrics rank near the metro median, with property and violent offenses both declining sharply year-over-year (77th and 72nd percentiles nationally for improvement), though absolute rates remain elevated and warrant ongoing monitoring. Rent-to-income ratios and mixed amenity access suggest careful lease management and targeted capital improvements to sustain retention.
- Neighborhood occupancy of 97.9% ranks in the 88th percentile nationally, supporting absorption and renewal stability
- Median household income grew 35.8% over five years, with a further 35.7% increase projected through 2028, underpinning tenant purchasing power
- 1972 vintage offers value-add potential through unit renovations in a high-rent environment (93rd percentile nationally)
- Elevated home values (90th percentile nationally) and 40% renter-occupied share sustain rental demand and limit ownership competition
- Property and violent crime rates declined sharply year-over-year, though absolute levels remain above national medians and require ongoing risk management