| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 16th | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15328 Orange Ave, Paramount, CA, 90723, US |
| Region / Metro | Paramount |
| Year of Construction | 1987 |
| Units | 76 |
| Transaction Date | 2005-12-09 |
| Transaction Price | $9,790,000 |
| Buyer | PI ORANGE AVENUE LLC |
| Seller | MONARK LP |
15328 Orange Ave, Paramount CA Multifamily Investment
Neighborhood occupancy is exceptionally tight and renter-occupied housing is prevalent, supporting durable demand according to WDSuite’s CRE market data. For investors, this points to stable leasing with potential pricing power if managed alongside affordability and retention considerations.
Paramount sits within the Los Angeles-Long Beach-Glendale metro and shows strong renter fundamentals: the neighborhood posts one of the highest occupancy readings locally and a high share of renter-occupied units, indicating a deep tenant base for a 76-unit asset. Elevated ownership costs relative to national norms further sustain reliance on multifamily housing, which can support lease retention and consistent absorption.
The 1987 vintage positions the property newer than the neighborhood’s average construction year (1975). That relative youth can be competitive against older stock, while investors should still evaluate modernization of building systems and common areas for positioning and capex planning.
Amenities are mixed: parks are comparatively abundant (competitive nationally), while daily-needs retail like groceries, pharmacies, and cafes are thinner within the immediate neighborhood. This dynamic places more weight on regional connectivity and onsite conveniences to aid resident satisfaction and renewal probability.
Within a 3-mile radius, demographics show a modest population dip in recent years but growth in household counts and a trend toward smaller household sizes. That shift typically broadens the renter pool and supports occupancy stability. Median contract rents in the radius have risen historically and are projected to increase further, which can reinforce revenue growth potential when paired with disciplined lease management.
Compared with other neighborhoods in the Los Angeles metro (1,441 neighborhoods total), this area ranks in the lower tier for safety, indicating crime occurs more frequently than in many peer neighborhoods. Nationally, it sits below mid-percentile benchmarks for both property and violent offenses. Recent data also shows a meaningful year-over-year decline in estimated property offenses, suggesting some improvement in trend even if levels remain elevated.
Investors typically account for this by emphasizing lighting, access controls, and community standards, and by reflecting neighborhood conditions in underwriting of marketing costs, security measures, and insurance assumptions.
Nearby industrial and services employers provide a broad blue- and white-collar employment base that supports workforce housing demand and commute convenience for residents, including Airgas, Coca-Cola Downey, Raytheon Public Safety RTC, Air Products & Chemicals, and Time Warner Business Class.
- Airgas — industrial gases (0.9 miles)
- Coca-Cola Downey — beverage operations (4.0 miles)
- Raytheon Public Safety RTC — defense & technology offices (4.2 miles)
- Air Products & Chemicals — industrial gases (6.4 miles)
- Time Warner Business Class — telecommunications services (6.9 miles)
This 76-unit property at 15328 Orange Ave benefits from a neighborhood with very tight occupancy and a high concentration of renter-occupied housing units, supporting depth of tenant demand. Elevated ownership costs in the area reinforce renter reliance on multifamily housing, aiding lease retention and pricing power when balanced with resident affordability. According to CRE market data from WDSuite, the surrounding neighborhood ranks at the top locally for occupancy, pointing to durable absorption if operations remain competitive.
Built in 1987, the asset is newer than much of the nearby housing stock, offering a relative quality advantage versus older properties, while still warranting targeted system updates and common-area refreshes for long-term competitiveness. Within a 3-mile radius, households have grown and are projected to continue expanding even as average household size trends lower, which typically supports multifamily demand and occupancy stability.
- Tight neighborhood occupancy and high renter concentration support stable leasing
- 1987 vintage offers competitive positioning versus older local stock with value-add potential
- Elevated ownership costs sustain renter demand and can enhance pricing power
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-average safety metrics and thinner nearby daily-needs retail require proactive operations and underwriting