| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 16th | Poor |
| Amenities | 28th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15351 Gundry Ave, Paramount, CA, 90723, US |
| Region / Metro | Paramount |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2005-12-29 |
| Transaction Price | $4,785,000 |
| Buyer | Monark LP (et al) |
| Seller | Gundry Avenue Apartments, |
15351 Gundry Ave Paramount Multifamily Investment
This 36-unit property benefits from exceptional neighborhood occupancy rates at 100%, indicating strong rental demand fundamentals according to CRE market data from WDSuite.
Built in 1987, this property represents a vintage slightly newer than the neighborhood average of 1975, positioning it favorably for reduced near-term maintenance requirements while offering potential value-add opportunities through selective renovations. The building's 801 square foot average unit size aligns with area rental demand patterns.
The neighborhood demonstrates exceptional occupancy fundamentals, ranking 1st among 1,441 Los Angeles metro neighborhoods with 100% occupancy rates. This top-tier performance reflects robust rental demand, supported by a 71% share of renter-occupied housing units that ranks in the 97th percentile nationally. Median contract rents of $1,755 position the area competitively within the metro market, with 40% rent growth over the past five years indicating sustained pricing power.
Demographics within a 3-mile radius show a stable tenant base of approximately 270,000 residents, with 51% of households earning between $50,000-$150,000 annually. The area maintains strong rental demand drivers, as elevated home values with a median of $456,645 and a 5.8 value-to-income ratio limit ownership accessibility, sustaining reliance on rental housing. Projected household growth of 35% over the next five years supports continued occupancy stability and potential for sustained rental demand.
While amenity density remains limited with minimal retail and dining options nearby, the neighborhood benefits from 2 parks per square mile, ranking in the 94th percentile nationally for recreational access. The area's urban core designation and high renter concentration create a focused rental market environment that supports multifamily fundamentals.
Safety metrics for this neighborhood reflect mixed conditions typical of urban core areas in the Los Angeles metro. Property crime rates of approximately 1,075 incidents per 100,000 residents rank in the lower third among metro neighborhoods, though recent trends show a 22% year-over-year decline in property offenses, indicating improving conditions.
Violent crime rates of 211 incidents per 100,000 residents place the neighborhood below metro averages, ranking in the 19th percentile nationally. While these metrics warrant consideration in investment analysis, the strong occupancy performance and rental demand fundamentals suggest tenants remain attracted to the area's housing value proposition despite safety considerations.
The property benefits from proximity to diverse corporate employers within the greater Los Angeles industrial corridor, providing workforce housing opportunities for employees across manufacturing, logistics, and professional services sectors.
- Airgas — industrial gas services (0.9 miles)
- Coca-Cola Downey — beverage manufacturing (4.0 miles)
- Raytheon Public Safety RTC — defense & aerospace (4.1 miles)
- Air Products & Chemicals — industrial chemicals (6.4 miles)
- Molina Healthcare — healthcare services (8.9 miles) — HQ
This 36-unit Paramount property presents a compelling value proposition anchored by exceptional occupancy fundamentals and stable rental demand drivers. The neighborhood's 100% occupancy rate, ranking first among 1,441 Los Angeles metro neighborhoods, demonstrates sustained tenant appeal despite broader market pressures. Built in 1987, the property offers potential value-add opportunities through strategic renovations while benefiting from below-average maintenance requirements compared to older neighborhood stock.
Strong demographic fundamentals support long-term rental demand, with household growth projections of 35% over five years and elevated ownership costs that maintain renter reliance on multifamily housing. The area's 71% renter occupancy share ranks in the 97th percentile nationally, creating a concentrated rental market that supports occupancy stability and lease retention, according to multifamily property research from WDSuite.
- Exceptional occupancy performance ranking #1 among metro neighborhoods
- Strong rental demand supported by 97th percentile renter concentration
- Value-add potential with 1987 vintage and strategic renovation opportunities
- Projected 35% household growth supporting tenant base expansion
- Safety metrics require ongoing monitoring and potential security enhancements