| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 79th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8040 W Manchester Ave, Playa Del Rey, CA, 90293, US |
| Region / Metro | Playa Del Rey |
| Year of Construction | 2007 |
| Units | 68 |
| Transaction Date | 2003-06-20 |
| Transaction Price | $954,000 |
| Buyer | MARCIL GERALD J |
| Seller | WALSH JOHN |
8040 W Manchester Ave Playa Del Rey Multifamily Investment
This 68-unit property built in 2007 benefits from strong neighborhood occupancy at 95.1% and elevated median rents of $2,622, positioning it favorably in a market with 60.3% renter-occupied units within a 3-mile radius.
Located in Playa Del Rey's urban core environment, this neighborhood ranks in the top quartile nationally for demographics (79th percentile) and housing fundamentals (83rd percentile) among 1,441 Los Angeles metro neighborhoods. The area maintains strong occupancy at 95.1% with median contract rents of $2,622, reflecting solid rental demand dynamics.
The 2007 construction year positions this property newer than the neighborhood average of 1977, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. Demographics within a 3-mile radius show 60.3% of housing units are renter-occupied, supporting sustained multifamily demand. The area attracts educated residents with 42.9% holding bachelor's degrees (98th percentile nationally).
Household income averages $134,839 within the 3-mile radius, with projections indicating 25% median income growth through 2028. Population is forecast to grow 5.6% over the next five years, expanding from approximately 120,000 to 126,700 residents, which should support tenant demand. However, the rent-to-income ratio ranks in the 8th percentile nationally, suggesting affordability pressures that require careful lease management and renewal strategies.
The neighborhood shows limited walkable amenities, with minimal retail density that may impact tenant appeal. However, the location benefits from proximity to Los Angeles International Airport and the broader employment corridor, supporting workforce housing demand.
Crime metrics show the neighborhood performing above average relative to the Los Angeles metro area, ranking 334th among 1,441 neighborhoods (77th percentile nationally). Property crime rates have declined significantly by 77.7% over the past year, while violent crime has decreased 81.0%, indicating improving safety trends that support tenant retention and leasing velocity.
The combination of declining crime rates and above-average safety positioning relative to metro comparables creates a more stable environment for multifamily operations, though investors should continue monitoring local trends as part of ongoing asset management.
The property benefits from proximity to major corporate offices and headquarters that support workforce housing demand, including technology, entertainment, and aerospace employers within commuting distance.
- Microsoft Offices The Reserves — technology offices (1.3 miles)
- Southwest Airlines Counter — aviation services (2.2 miles)
- Symantec — cybersecurity offices (3.4 miles)
- Mattel — consumer products (3.7 miles) — HQ
- Abbott Laboratories — healthcare (4.1 miles) — HQ
This 68-unit property presents solid fundamentals with neighborhood occupancy at 95.1% and above-metro rent levels supporting cash flow stability. The 2007 construction vintage reduces immediate capital expenditure concerns while the educated tenant base (42.9% with bachelor's degrees) and forecast population growth of 5.6% through 2028 support sustained rental demand. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile nationally for demographics and housing metrics.
However, investors should carefully monitor rent-to-income ratios that rank in the 8th percentile nationally, indicating affordability pressures that may impact renewal rates and pricing power. The location near LAX provides workforce housing appeal but limited walkable amenities may affect tenant satisfaction and retention strategies.
- Strong neighborhood occupancy at 95.1% with above-metro rent levels
- 2007 construction reduces near-term capital expenditure needs
- Educated tenant base and 5.6% population growth forecast through 2028
- Proximity to major employers including Microsoft, Mattel, and Abbott Laboratories
- Risk consideration: Rent-to-income ratios suggest affordability pressures requiring careful lease management