| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 37th | Fair |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1615 S Pacific Ave, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 1994-07-26 |
| Transaction Price | $325,000 |
| Buyer | BRAJEVICH NICHOLAS JOHN |
| Seller | BRAJEVICH NIKOLA |
1615 S Pacific Ave, San Pedro Multifamily Investment
Neighborhood occupancy remains firm with a deep renter base, supporting stable leasing and renewal visibility according to WDSuite’s CRE market data. Strength in local amenities and a high-cost ownership market point to durable renter demand.
San Pedro’s Urban Core setting offers day-to-day convenience that supports renter retention. Dining density is a standout, with restaurants per square mile performing in the top quartile nationally, and café availability also well above national norms. Grocery access scores strong versus U.S. neighborhoods, helping underpin livability for working households.
At the same time, park and pharmacy counts are limited within the immediate neighborhood, and childcare options are sparse. For multifamily investors, that mix suggests solid appeal to working professionals and service-sector tenants, with somewhat less pull for families prioritizing nearby parks, pharmacies, and highly rated schools.
Renter concentration is high (renter-occupied share ranks near the top of U.S. neighborhoods), indicating a broad tenant pool and healthy depth for leasing. Neighborhood occupancy is above national averages, reinforcing expectations for steady absorption and renewal rates. Median contract rents in the neighborhood have risen over the last five years, and WDSuite’s commercial real estate analysis indicates continued renter demand in similar coastal submarkets.
Home values sit in a high-cost ownership market relative to incomes, a dynamic that tends to sustain reliance on rental housing and supports pricing power when managed carefully. Within a 3-mile radius, population and household counts have increased over the past five years, with WDSuite indicating further growth ahead; this projected renter pool expansion supports long-run stability for well-positioned assets.
Safety trends compare favorably at the neighborhood level. By national comparison, the area sits above average for safety (higher percentile vs. U.S. neighborhoods), and it is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked meaningfully better than many peers out of 1,441 metro neighborhoods). Recent WDSuite data also shows notable year-over-year improvement in both property and violent incident rates, pointing to positive momentum rather than a one-off fluctuation.
Investors should still underwrite standard operating practices and monitor submarket trends, but current signals suggest conditions that support tenant retention and day-to-day operations without unusual mitigation requirements.
Nearby employers anchor diverse white-collar and industrial jobs that help drive renter demand and retention, including healthcare, advanced manufacturing, and consumer products. The list below reflects major nodes within a commuter-friendly radius.
- Molina Healthcare — healthcare services (5.7 miles) — HQ
- Air Products & Chemicals — industrial gases & engineering (6.6 miles)
- Airgas — industrial gases distribution (12.6 miles)
- Mattel — consumer products & entertainment (14.5 miles) — HQ
- INTERNATIONAL PAPER Cypress Retail Packaging — packaging & paper products (16.0 miles)
1615 S Pacific Ave is a 20-unit asset in San Pedro positioned to benefit from a large renter pool, solid neighborhood occupancy, and a high-cost ownership market that reinforces multifamily demand. Based on CRE market data from WDSuite, the neighborhood shows strong amenity access in dining and groceries, while renter concentration ranks near the top nationally—favorable for lease-up depth and renewal stability.
Built in 1984, the property is newer than the neighborhood’s average vintage, which can enhance competitive positioning versus older stock; investors should still plan for targeted system upgrades and common-area refreshes to capture value-add upside. Within a 3-mile radius, population and households have grown and are projected to expand further, pointing to a larger tenant base over the medium term. Balanced against these strengths are softer school ratings and limited parks/pharmacy access, best addressed through tenant-targeted amenities and service offerings.
- Deep renter base and above-average neighborhood occupancy support leasing stability.
- High-cost ownership market sustains rental reliance and pricing power when managed carefully.
- 1984 vintage offers relative competitiveness vs. older local stock with value-add potential through modernization.
- 3-mile population and household growth expand the tenant pool, reinforcing long-run demand.
- Risks: limited parks/pharmacy access and below-average school ratings; align operations and amenities to target renter segments.