| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 31st | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 349 W 3rd St, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1976 |
| Units | 53 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
349 W 3rd St San Pedro Multifamily Investment
This 53-unit property sits in a renter-dominant neighborhood with 77% rental occupancy, positioning it within Los Angeles County's stable multifamily market according to CRE market data from WDSuite.
The San Pedro neighborhood demonstrates strong renter demand fundamentals, with 77% of housing units renter-occupied — ranking in the 99th percentile nationally among 1,441 metro neighborhoods. This high rental concentration supports consistent tenant demand and occupancy stability for multifamily properties.
Built in 1976, this property aligns with the neighborhood's 1967 average construction year, presenting potential value-add opportunities through strategic capital improvements and unit upgrades. The area maintains 95% occupancy rates with moderate rent levels at $1,276 median, suggesting balanced rental market conditions without overheating.
Demographics within a 3-mile radius show a stable renter base of 109,292 residents with household incomes averaging $115,631. The neighborhood ranks in the 97th percentile nationally for grocery store density and 98th percentile for restaurant access, supporting tenant retention through convenient amenities. However, schools average 1.5 out of 5 stars, which may limit appeal to family renters but supports workforce housing demand.
Home values at $713,069 median create affordability pressures that reinforce rental demand, as elevated ownership costs keep households in the multifamily market. The rent-to-income ratio of 0.34 indicates manageable affordability for current income levels, though operators should monitor renewal rates as regional costs continue rising.
The neighborhood demonstrates improving safety trends with property crime rates declining 79% year-over-year and violent crime dropping 93%. While current crime rates place the area in the middle tier among Los Angeles metro neighborhoods (470th of 1,441 for overall crime), the substantial recent improvements suggest positive momentum that may support tenant retention and leasing velocity.
Property crime rates of 328 incidents per 100,000 residents rank at the 71st percentile nationally, indicating above-average safety compared to neighborhoods nationwide. The significant crime reduction trajectory provides a favorable backdrop for multifamily operations, though investors should continue monitoring local trends and consider security enhancements as part of capital planning.
The San Pedro area benefits from proximity to major corporate employers, supporting workforce housing demand from healthcare, industrial, and aerospace sectors.
- Molina Healthcare — healthcare services (5.2 miles) — HQ
- Air Products & Chemicals — industrial chemicals (5.8 miles)
- Airgas — industrial gases (11.8 miles)
- Mattel — consumer products (13.8 miles) — HQ
- International Paper Cypress — packaging & manufacturing (15.6 miles)
This 53-unit San Pedro property offers exposure to Los Angeles County's resilient rental market, supported by strong neighborhood fundamentals including 99th percentile rental concentration and stable 95% occupancy rates. The 1976 construction vintage presents value-add potential through strategic renovations and unit improvements, while proximity to major employers like Molina Healthcare and Mattel supports consistent tenant demand.
Commercial real estate analysis from WDSuite indicates favorable rental market dynamics, with elevated home values reinforcing multifamily demand as ownership costs remain prohibitive for many households. Demographics show population growth within the 3-mile radius, expanding the potential tenant base while rent-to-income ratios remain manageable at current income levels.
- 77% rental occupancy concentration ranks 99th percentile nationally
- Stable 95% neighborhood occupancy rates support consistent cash flow
- Value-add potential through 1976 vintage property improvements
- Major employer proximity supports workforce housing demand
- Risk: Below-average school ratings may limit family renter appeal