| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 31st | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 336 W 1st St, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 1994-09-30 |
| Transaction Price | $850,000 |
| Buyer | ALVAREZ MARIO |
| Seller | SOUTH BAY SHORE LP |
336 W 1st St San Pedro Multifamily Investment
This 22-unit property occupies a renter-dominated neighborhood with occupancy rates above metro averages and strong rental demand fundamentals, according to CRE market data from WDSuite.
The property sits in an Urban Core neighborhood within the Los Angeles-Long Beach-Glendale metro, rated B overall and ranking in the top half nationally for housing fundamentals (77th percentile). Neighborhood-level occupancy stands at 95.1%, reflecting stable absorption and above-metro performance. Within a three-mile radius, 56.6% of housing units are renter-occupied—well above typical suburban markets—signaling deep, sustained demand for multifamily units and a sizable tenant base for lease-up and renewals.
Built in 1986, the property predates the neighborhood's 1967 construction average, suggesting opportunities for value-add repositioning or capital planning around deferred maintenance and unit upgrades. Median contract rents in the neighborhood reached $1,276 and have grown approximately 17% over the past five years, while three-mile demographics show median household income of $90,557 (up 40% over five years) and a projected increase to $112,100 by 2028. This income growth supports pricing power and lease renewals, though investors should note that the neighborhood's 11.8% bachelor's degree attainment (30th percentile nationally) and below-metro household income rank point to a workforce-oriented tenant profile.
Amenity density is a competitive advantage: the neighborhood ranks in the 97th percentile nationally for grocery stores per square mile (6.38), 98th for restaurants (31.0), and 99th for pharmacies (4.56). Childcare and café density also exceed metro norms. These features enhance tenant retention and appeal. However, the neighborhood records zero parks per square mile (bottom percentile nationally), and average school ratings (1.5 out of 5, 26th percentile) may limit appeal to family renters prioritizing education access. Investors focused on workforce or transit-oriented housing will find the amenity and transit infrastructure well-suited to that segment.
Home values in the neighborhood sit at $713,069 (93rd percentile nationally) and have appreciated roughly 70% over five years, reinforcing rental demand by limiting ownership accessibility for much of the local workforce. The resulting value-to-income ratio (16.0, top percentile nationally) sustains reliance on rental housing and supports occupancy stability. Rent-to-income ratios remain modest (0.34, 3rd percentile nationally), suggesting affordability for tenants and lower retention risk compared to higher-cost coastal submarkets.
The neighborhood ranks 470th of 1,441 metro neighborhoods for overall crime (71st percentile nationally), placing it above metro median for safety. Property offense rates are estimated at 328 incidents per 100,000 residents (46th percentile nationally), while violent offense rates stand at 52 per 100,000 (42nd percentile). Both property and violent crime have declined sharply year-over-year—property offenses down approximately 79% and violent offenses down roughly 94%—reflecting improving public safety trends that may support tenant confidence and lease renewals.
While crime metrics are favorable relative to the broader metro, investors should monitor trends at the block and submarket level and consider security enhancements or tenant communication strategies as part of property management and positioning. Overall, the neighborhood's safety profile compares competitively within the Los Angeles metro context.
The property benefits from proximity to a diverse base of corporate offices and regional employers that support workforce housing demand and commute convenience. Key anchors within a 16-mile radius include:
- Molina Healthcare — healthcare services (5.1 miles) — HQ
- Air Products & Chemicals — industrial gases and chemicals (5.7 miles)
- Airgas — industrial distribution (11.7 miles)
- Mattel — consumer goods and toy manufacturing (13.7 miles) — HQ
- Raytheon Public Safety RTC — defense and aerospace (16.0 miles)
This 22-unit property in San Pedro offers investors stable occupancy fundamentals in a renter-dominated Urban Core neighborhood. Neighborhood-level occupancy of 95.1% and a 77.3% renter-occupied unit share (99th percentile nationally) point to sustained multifamily demand and a deep tenant base. According to commercial real estate analysis from WDSuite, the submarket ranks in the top half nationally for housing metrics, with median rents growing 17% over five years and three-mile household incomes projected to rise 24% by 2028. This income trajectory supports pricing power and lease renewals, while elevated home values (93rd percentile nationally) and high value-to-income ratios reinforce renter reliance on multifamily housing.
The property's 1986 vintage predates the neighborhood average and presents value-add potential through unit upgrades, amenity enhancements, or capital improvements that align the asset with newer competitive stock. Amenity density—grocery, restaurant, childcare, and pharmacy access all ranking in the top decile nationally—strengthens tenant retention and marketability. However, investors should weigh the neighborhood's below-metro educational attainment (30th percentile nationally for bachelor's degrees), zero park density, and modest school ratings (26th percentile) as factors that may influence tenant mix and family appeal. Crime trends are improving sharply, with property and violent offenses down year-over-year, supporting a more stable operating environment.
- Neighborhood occupancy of 95.1% and 77.3% renter-occupied units (99th percentile nationally) signal strong, sustained multifamily demand
- Three-mile household income growth of 40% (2018–2023) and projected 24% gain through 2028 support rent growth and lease renewals
- 1986 construction offers value-add upside through unit and common-area improvements to capture rent premiums
- Top-decile national rankings for grocery, restaurant, childcare, and pharmacy density enhance tenant retention and competitive positioning
- Risk considerations include below-metro educational attainment, zero park density, and modest school ratings that may limit appeal to family renters prioritizing education and recreation access