| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 79th | Best |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2205 Farrell Ave, Redondo Beach, CA, 90278, US |
| Region / Metro | Redondo Beach |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2205 Farrell Ave Redondo Beach Multifamily Investment
Neighborhood occupancy has been exceptionally stable and supported by high-income renter demand, according to WDSuite’s CRE market data, positioning this asset for steady leasing performance in Redondo Beach. Elevated ownership costs in the area further support renter reliance on multifamily housing.
The property sits in an Inner Suburb pocket of Redondo Beach rated A+ at the neighborhood level and competitive among Los Angeles-Long Beach-Glendale metro neighborhoods (ranked 40th out of 1,441). Amenities score in the top quartile nationally, and schools test above national norms (average ratings around 4 out of 5), creating family-friendly fundamentals that translate into durable leasing.
Local housing dynamics indicate full neighborhood occupancy and contract rents that track near the top of national distributions, per WDSuite’s CRE market data. With a renter-occupied share below half at the neighborhood level, depth of demand is anchored by higher-earning households, which can support rent consistency while requiring disciplined lease management to sustain pricing power.
Construction in the immediate area skews newer than this asset (average vintage around 1987). Built in 1972, the property is older than nearby stock—an investor-relevant signal for capital planning and potential value-add through targeted renovations that improve competitive positioning versus younger comparables.
Within a 3-mile radius, demographics point to a large, high-income base and a projected increase in households through 2028, even as average household size trends slightly lower. This pattern typically expands the renter pool and supports occupancy stability. Elevated home values relative to incomes characterize a high-cost ownership market, which tends to sustain multifamily demand and lease retention for well-located assets.
Safety indicators for the neighborhood are above the metro median (ranked 666th of 1,441 Los Angeles-area neighborhoods) and in the upper half nationally (58th percentile), based on WDSuite’s CRE market data. Recent trends show notable year-over-year declines in both property and violent offenses, which, while not a guarantee, support a constructive backdrop for tenant retention and long-term operations.
Proximity to major employers in the South Bay and Westside supports a diversified renter base and commute convenience, particularly for sectors like consumer products, aviation operations, software, cybersecurity, and industrial gases.
- Mattel — consumer products/HQ (2.7 miles) — HQ
- Southwest Airlines Counter — aviation operations (4.7 miles)
- Microsoft Offices The Reserves — software (7.0 miles)
- Symantec — cybersecurity (7.2 miles)
- Air Products & Chemicals — industrial gases (9.4 miles)
This 36-unit Redondo Beach asset benefits from neighborhood-level occupancy stability, strong household incomes, and a high-cost ownership landscape that reinforces reliance on rentals. Based on CRE market data from WDSuite, the area’s amenity access and above-average school ratings position well-maintained properties for steady tenant demand and lease retention.
Built in 1972, the property trails the area’s newer average vintage, presenting clear value-add and capital planning avenues to strengthen competitive standing. At the same time, 3-mile demographics indicate continued household growth and a larger renter pool over the next several years, supporting long-run absorption and pricing discipline for renovated units.
- Neighborhood-level occupancy stability and strong incomes support steady leasing
- High-cost ownership market sustains renter demand and retention
- 1972 vintage provides value-add and modernization upside versus newer stock
- 3-mile household growth implies a larger renter pool and supports pricing discipline
- Risk: older systems may require higher near-term capex to remain competitive