| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 79th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2723 Vanderbilt Ln, Redondo Beach, CA, 90278, US |
| Region / Metro | Redondo Beach |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2723 Vanderbilt Ln Redondo Beach Multifamily Investment
This 27-unit property built in 1972 sits in a top-quartile neighborhood with 95% occupancy rates and strong household income growth, positioning it well for value-add opportunities in a high-demand coastal market.
Located in Redondo Beach's highly-rated Urban Core neighborhood, this property benefits from exceptional local fundamentals that rank in the top quartile among 1,441 metro neighborhoods. The area demonstrates strong rental demand with neighborhood-level occupancy at 95%, supported by a median household income of $144,297 that has grown 30% over five years. Demographics within a 3-mile radius show a stable population base of approximately 239,000 residents with household income growth outpacing national trends.
The neighborhood's amenity density ranks in the 93rd percentile nationally, with extensive access to restaurants, cafes, parks, and grocery stores that enhance tenant retention appeal. Schools average 4.5 out of 5 stars, placing the area in the 94th percentile nationally for educational quality. Contract rents average $2,492 for one-bedroom units, reflecting the premium coastal location, though rent-to-income ratios suggest some affordability pressure that requires careful lease management consideration.
The property's 1972 construction year positions it for value-add renovation opportunities, as the neighborhood's average construction year is 1991. With 40% of housing units renter-occupied and elevated home values at a median of $1.05 million, high ownership costs reinforce rental demand and sustain renter reliance on multifamily housing. Demographic projections show continued household growth with median income expected to reach $165,421 by 2028, supporting long-term rental demand fundamentals.
Safety metrics for this neighborhood present mixed signals that warrant careful consideration. Property crime rates rank 1,143rd among 1,441 metro neighborhoods, placing it in the lower quartile locally, though the trend shows improvement with a 40% decline in property offenses over the past year. Violent crime rates similarly rank in the lower quartile at 1,122nd position, but have decreased 32% year-over-year, indicating positive momentum in public safety trends.
While current crime statistics place the neighborhood below metro averages, the significant downward trend in both property and violent crimes suggests improving conditions. Investors should monitor these safety improvements as part of ongoing market dynamics, particularly given the area's strong demographic profile and high-quality amenities that typically correlate with neighborhood stability over time.
The property benefits from proximity to major corporate employers that provide stable workforce housing demand, including toy manufacturer headquarters and technology offices within commuting distance.
- Mattel — toy manufacturing & consumer products (3.8 miles) — HQ
- Southwest Airlines Counter — airline operations (5.7 miles)
- Microsoft Offices The Reserves — technology services (8.1 miles)
- Symantec — cybersecurity & software (8.2 miles)
- Air Products & Chemicals — industrial gases & chemicals (8.4 miles)
This 27-unit property presents a compelling value-add opportunity in one of Los Angeles County's strongest rental markets. Built in 1972, the asset offers renovation upside potential in a neighborhood where construction averages nearly two decades newer, positioning it for strategic capital improvements to capture higher rents. The local fundamentals are exceptional, with 95% neighborhood-level occupancy, top-quartile amenity access, and household incomes that have grown 30% over five years according to CRE market data from WDSuite.
Demographics within a 3-mile radius support long-term rental demand, with population growth and household formation trends pointing toward continued tenant pool expansion. High home values exceeding $1 million reinforce rental demand by keeping potential buyers in the rental market, while the coastal Redondo Beach location provides inherent desirability. The combination of value-add potential, strong local occupancy trends, and proximity to major employers like Mattel headquarters creates multiple value creation pathways for experienced multifamily investors.
- Value-add renovation opportunity with 1972 vintage in neighborhood averaging 1991 construction
- Top-quartile neighborhood fundamentals with 95% occupancy and strong income growth
- High ownership costs sustain rental demand in premium coastal location
- Proximity to major employers including Mattel HQ and technology offices
- Risk consideration: Safety metrics below metro average despite improving trends