| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 21st | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7227 Richfield St, Paramount, CA, 90723, US |
| Region / Metro | Paramount |
| Year of Construction | 1989 |
| Units | 43 |
| Transaction Date | 2016-05-03 |
| Transaction Price | $9,400,000 |
| Buyer | PI RICHFIELD AVENUE LLC |
| Seller | REYES ROBERT |
7227 Richfield St, Paramount CA Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite's CRE market data. Elevated ownership costs in Los Angeles County further support retention and pricing power for well-managed assets in Paramount.
Located in Paramount’s inner-suburban fabric of Los Angeles County, the neighborhood shows stable renter demand with occupancy trending above the metro median and in the top decile nationally. Renter concentration is high for the area, indicating a deeper tenant base that supports leasing velocity and renewal potential, based on WDSuite’s commercial real estate analysis.
Everyday convenience is a strength: restaurants and cafes score in the upper national percentiles, and grocery and pharmacy access also test well. Park access is limited locally, which may modestly affect lifestyle appeal, while average school ratings sit below national norms; both are considerations for family-oriented leasing strategies rather than core drivers for workforce renters.
Ownership remains a high-cost option in this neighborhood relative to income (top-tier value-to-income nationally) and home values sit in the upper national percentiles. In investor terms, this creates a supportive backdrop for multifamily, as households are more likely to remain in rental housing, helping sustain occupancy and reducing exposure to for-sale competition.
Within a 3-mile radius, household counts increased in the last five years even as population edged down, reflecting smaller average household sizes and steady demand for rental units. Looking ahead (3-mile aggregation), households are projected to expand materially through the forecast period, while median incomes are also projected to rise; together these trends imply a larger tenant base with improving ability to absorb rent growth and support occupancy stability.
Vintage context: the property’s 1989 construction is slightly newer than the neighborhood’s average vintage. This positioning can be competitive versus older stock, while still offering potential value-add through system upgrades and selective renovations to meet current renter expectations.
Safety trends should be evaluated at the neighborhood level rather than the parcel. Relative to other areas, the neighborhood ranks below the metro average on crime (939 out of 1,441 Los Angeles–Long Beach–Glendale neighborhoods), indicating a higher-crime environment than many metro peers. Nationally, safety levels sit below the midpoint when compared with neighborhoods across the country.
Recent momentum is more constructive: both violent and property offense rates have declined year over year, with improvement tracking better than average nationally. For investors, this suggests monitoring trend persistence and engaging with asset-level measures (lighting, access controls, partnerships with local patrols) to support resident retention and leasing.
The immediate area draws on a base of nearby corporate offices that support workforce housing demand and commute convenience, including Airgas, Coca-Cola Downey, Raytheon Public Safety RTC, Time Warner Business Class, and International Paper.
- Airgas — corporate offices (1.4 miles)
- Coca-Cola Downey — corporate offices (3.4 miles)
- Raytheon Public Safety RTC — corporate offices (3.6 miles)
- Time Warner Business Class — corporate offices (6.8 miles)
- International Paper — corporate offices (6.8 miles)
This 43-unit, 1989-vintage asset in Paramount is positioned for steady operations supported by a renter-heavy neighborhood and metro-leading occupancy performance. According to CRE market data from WDSuite, neighborhood occupancy trends sit above the Los Angeles metro median and in the upper national tier, while elevated ownership costs in the area reinforce reliance on rental housing and support lease retention.
Demographic currents aggregated within a 3-mile radius show household growth alongside shrinking household sizes, and forecasts point to substantial expansion in household counts with rising incomes—a constructive backdrop for demand depth. The 1989 construction offers competitive positioning versus older stock and potential value-add through modernization of finishes and building systems to capture rent premiums with disciplined capital planning.
- High neighborhood occupancy (above metro median; strong nationally) supports income stability
- Strong renter concentration indicates a deeper tenant base and resilient leasing
- 1989 vintage allows targeted value-add and systems upgrades to enhance competitiveness
- 3-mile household growth and projected income gains support future demand
- Risks: rent-to-income pressure and below-median safety levels require attentive leasing and operations