| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 58th | Good |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1005 S Grand Ave, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | 2003-04-22 |
| Transaction Price | $1,950,000 |
| Buyer | KHALSA PROPERTY MANAGEMENT INC |
| Seller | EPPLER DALE E |
1005 S Grand Ave San Pedro Multifamily Investment
Neighborhood renter demand is supported by high occupancy and a sizable renter base, according to WDSuite’s CRE market data. This location offers stable operations potential in Los Angeles County with room to optimize through targeted renovations and leasing strategy.
Situated in San Pedro’s Urban Core, the property benefits from neighborhood-level occupancy that trends above many Los Angeles-Long Beach-Glendale submarket readings and a renter-occupied share that signals depth in the tenant base. According to CRE market data from WDSuite, the neighborhood’s occupancy is in a high national percentile, which generally supports rent collections and lease retention for stabilized assets.
Local amenity access is mixed: grocery and pharmacy density is strong (both well above national norms), while cafes and parks are comparatively sparse. For investors, that points to everyday convenience for residents and potential to differentiate with on-site or walkable community features that compensate for lighter third-place amenities.
Within a 3-mile radius, demographics show a large resident base with modest recent population growth and an increase in households, with projections through 2028 indicating further expansion. This implies a gradually larger tenant pool and supports occupancy stability even as new supply competes across the metro.
Home values in the neighborhood rank in very high national percentiles, characterizing a high-cost ownership market. In this context, multifamily rentals serve as comparatively more accessible housing options, which can reinforce demand depth and support pricing power, while the neighborhood’s rent-to-income levels suggest manageable affordability pressure that can aid lease retention.
Safety trends are comparatively favorable: the neighborhood falls in the top quartile nationally for overall safety based on WDSuite’s indicators, and sits above the average among Los Angeles-Long Beach-Glendale neighborhoods (346 out of 1,441). Recent year-over-year declines in both property and violent offense rates further support a cautiously positive near-term outlook.
As with most Urban Core locations, conditions can vary by block and time of day, so prudent property management and lighting/security enhancements remain relevant risk mitigants.
Nearby employers provide a diversified employment base that supports renter demand and commute convenience, led by healthcare, manufacturing, and consumer products. The following anchors are within a commutable radius of the property and can help underpin leasing stability.
- Molina Healthcare — healthcare services (5.6 miles) — HQ
- Air Products & Chemicals — industrial gases (6.4 miles)
- Airgas — industrial supply/gases (12.4 miles)
- Mattel — consumer products/toys (14.1 miles) — HQ
- Southwest Airlines Counter — airline operations (16.0 miles)
Built in 1974, this 28-unit asset offers a mid-vintage profile with potential value-add and modernization opportunities (systems, finishes, curb appeal) to sharpen competitiveness against older neighborhood stock. Neighborhood occupancy sits in a strong national percentile and the renter-occupied share is elevated, indicating a broad tenant base that can support consistent leasing. Within a 3-mile radius, modest population growth and projected increases in households point to gradual renter pool expansion, which can support occupancy stability over the hold.
Home values test in very high national percentiles, signaling a high-cost ownership environment that tends to sustain rental demand, while neighborhood rent-to-income levels indicate manageable affordability pressure for lease management. According to WDSuite’s commercial real estate analysis, grocery and pharmacy access is strong even as cafes and parks are thinner, suggesting room to differentiate through property amenities and resident programming. Key risks include the Urban Core location’s variability by micro-block and the need for ongoing capital to unlock renovation upside.
- Mid-vintage 1974 construction with clear value-add and modernization pathways
- High neighborhood occupancy and elevated renter-occupied share support demand depth
- High-cost ownership market reinforces reliance on multifamily rentals
- Household growth within 3 miles points to a larger tenant base over time
- Risks: Urban Core variability and ongoing capex needed to fully realize upside