| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 87th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 S Prospect Ave, Redondo Beach, CA, 90277, US |
| Region / Metro | Redondo Beach |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
415 S Prospect Ave Redondo Beach Multifamily Investment
In a high-cost ownership pocket of Redondo Beach where neighborhood occupancy has trended firm, well-rated schools and income depth support renter demand, according to WDSuite’s CRE market data. The location profile favors leasing stability and retention over time.
Redondo Beach’s Urban Core setting offers strong livability drivers for multifamily, with restaurants and everyday services within easy reach and parks notably dense for the metro. Neighborhood schools are a standout: the average school rating is 5.0 and ranked 1st among 1,441 Los Angeles metro neighborhoods, placing the area in the top percentile nationally — a factor that can underpin family-oriented renter demand.
Neighborhood occupancy (measured for the neighborhood, not the property) is 95.2% and has improved over the last five years, signaling durable demand and supporting cash flow reliability in comparable assets. Median household incomes are high relative to national norms while the rent-to-income burden trends moderate locally, which can aid lease retention and support disciplined pricing power.
Amenity access is broadly favorable: parks and pharmacies score in the top national percentiles, grocery access is above average, and restaurant density is competitive among Los Angeles neighborhoods. Childcare availability is particularly strong, which complements the school quality story. Café density is lighter than peer coastal submarkets, but the broader amenity mix remains attractive for renters.
Within a 3-mile radius, demographic data indicate population growth alongside an increase in households and slightly smaller household sizes — dynamics that expand the tenant base and support occupancy stability for multifamily properties. The renter-occupied share within this 3-mile area is material, reinforcing depth of demand for professionally managed apartments.
The property’s 1972 construction is somewhat older than the neighborhood’s average vintage (1979). For investors, that typically points to capital planning needs and potential value-add or modernization upside to stay competitive against newer stock.
Safety indicators for the neighborhood are mixed but generally comparable to broader metro patterns. Overall crime sits around the metro middle (ranked 820 among 1,441 Los Angeles neighborhoods), which translates to mid-pack nationally. Violent offense levels are near the national midpoint, while recent year-over-year trends point to meaningful improvement in violent incidents.
Property-related offenses trend weaker versus national benchmarks (lower national percentile), though the latest annual direction shows some easing. For investors, the takeaway is to underwrite standard security and operating practices common to greater Los Angeles coastal submarkets while noting the positive momentum in violent offense trends.
Proximity to a diverse employer base supports workforce housing demand and commute convenience, with concentrations in toys/consumer brands, airlines, industrial gases, and technology. The nearest nodes include Mattel, Southwest Airlines, Air Products & Chemicals, Microsoft, and Symantec.
- Mattel — consumer products/HQ functions (5.9 miles) — HQ
- Southwest Airlines Counter — airline operations (7.8 miles)
- Air Products & Chemicals — industrial gases (8.5 miles)
- Microsoft Offices The Reserves — technology offices (10.1 miles)
- Symantec — cybersecurity offices (10.5 miles)
This 48-unit, 1972-vintage asset benefits from a high-income renter base, top-tier neighborhood schools, and occupancy that has held firm at the neighborhood level, supporting steady leasing and retention. The area’s elevated home values reinforce renter reliance on multifamily housing, while the rent-to-income profile remains manageable for many local households.
Based on CRE market data from WDSuite, neighborhood occupancy has improved over the last five years and demographic trends within a 3-mile radius point to modest population growth, a projected increase in households, and slightly smaller household sizes — all supportive of a larger tenant base. Given its older vintage relative to the neighborhood average, the property presents value-add and capital planning opportunities to enhance competitiveness against newer product.
- High-income coastal renter base and top-rated schools bolster demand depth
- Neighborhood occupancy stability and positive five-year trend support cash flow durability
- Elevated ownership costs reinforce multifamily reliance and pricing power potential
- 1972 vintage offers value-add and modernization upside with targeted capex
- Risk: property-related offenses trend weaker than national benchmarks; underwrite standard security and operating controls