| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 31st | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 620 W 6th St, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1990 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
620 W 6th St San Pedro Multifamily Investment
This 44-unit property built in 1990 sits in a high-density rental market with 95.1% neighborhood occupancy, according to CRE market data from WDSuite.
San Pedro operates as an established urban core neighborhood within the Los Angeles-Long Beach-Glendale metro, ranking in the top quartile nationally for amenity access with exceptional grocery store and restaurant density. The area maintains strong rental fundamentals with 77.3% of housing units occupied by renters, ranking 89th among 1,441 metro neighborhoods and placing in the 99th percentile nationally for rental concentration.
Neighborhood occupancy rates of 95.1% reflect stable demand conditions, with median contract rents at $1,276 showing 16.9% growth over five years. Demographics within a 3-mile radius indicate a mature renter base with median household income of $96,918 and projected growth to $117,608 by 2028, supporting rental demand through income expansion and household formation.
The property's 1990 construction year positions it as newer than the neighborhood average of 1967, potentially reducing near-term capital expenditure requirements while maintaining competitive positioning. Home values averaging $713,069 with 70% appreciation over five years reinforce rental demand by keeping ownership costs elevated relative to renting options.
Amenity infrastructure supports tenant retention with 6.38 grocery stores per square mile ranking in the 97th percentile nationally, plus dense restaurant and pharmacy access. However, the area shows limited park space and below-average school ratings, which may influence family tenant demographics and renewal patterns.
Property crime rates in the neighborhood show recent improvement trends, with estimated rates declining 79% year-over-year according to local data. Current property crime levels rank 652nd among 1,441 metro neighborhoods, placing near the median for the region.
Violent crime metrics indicate more favorable conditions, with rates ranking 779th among metro neighborhoods and showing a 93.6% decline over the past year. These improving crime trends may support tenant retention and property management stability, though investors should monitor ongoing public safety investments and community policing initiatives.
The San Pedro area benefits from proximity to major corporate employers, with healthcare, manufacturing, and logistics operations providing workforce housing demand within reasonable commuting distance.
- Molina Healthcare — healthcare services (5.6 miles) — HQ
- Air Products & Chemicals — industrial chemicals (6.2 miles)
- Airgas — industrial gases (12.1 miles)
- Mattel — consumer products (13.8 miles) — HQ
- Southwest Airlines Counter — aviation services (15.7 miles)
This 44-unit San Pedro property leverages strong rental market fundamentals in an urban core location with 95.1% neighborhood occupancy and 77.3% renter concentration ranking in the 99th percentile nationally. The 1990 construction vintage positions the asset newer than the 1967 neighborhood average, potentially reducing immediate capital requirements while maintaining competitive appeal. Population growth within a 3-mile radius and projected median income expansion from $96,918 to $117,608 by 2028 support rental demand stability through household formation and income growth.
Commercial real estate analysis indicates favorable supply-demand dynamics with limited new construction relative to household growth, while elevated home values averaging $713,069 reinforce renter reliance on multifamily housing. Dense amenity access including top-percentile grocery and restaurant availability supports tenant retention, though below-average school ratings may influence family demographic targeting.
- High rental concentration (99th percentile nationally) indicates established tenant demand
- Stable 95.1% neighborhood occupancy with 16.9% rent growth over five years
- 1990 construction reduces near-term capital expenditure requirements
- Projected 21% median income growth supports rent escalation potential
- Risk consideration: Below-average school ratings may limit family tenant appeal