| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 58th | Good |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 654 W 12th St, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 2019-01-14 |
| Transaction Price | $4,800,000 |
| Buyer | MC 12TH STREET PROPERTIES LLC |
| Seller | POLITO ROBERT R |
654 W 12th St San Pedro 24-Unit Multifamily
Neighborhood occupancy trends sit in the high-90s with a renter-occupied housing base above the metro median, supporting stable leasing conditions, according to WDSuite’s CRE market data.
Situated in San Pedro’s Urban Core, the asset benefits from a renter-occupied housing share that is above the metro median (61.6% renter-occupied), indicating a deep tenant base and steady demand for multifamily units. Neighborhood occupancy is in the top quartile nationally, a positive indicator for revenue stability during hold.
Daily-needs access is a local strength: grocery availability ranks in the 98th percentile nationally and pharmacies in the 93rd percentile, while restaurants are competitive at the 82nd percentile. By contrast, parks and cafes are limited within the neighborhood, which may modestly constrain lifestyle appeal relative to amenity-rich LA submarkets.
Within a 3-mile radius, demographic data show modest population growth and a rising number of households historically, with forecasts pointing to additional household gains—supporting a larger tenant base over time. Median household incomes are solid for Los Angeles County, and rent-to-income ratios in the neighborhood are relatively moderate, which can aid lease retention while leaving room for measured rent growth.
Ownership costs in the area are elevated versus national norms, with home values in a high-cost ownership market. That dynamic tends to sustain multifamily demand and can support pricing power for well-positioned assets, especially properties offering functional layouts and reliable operations.
The property s 1985 vintage is newer than the neighborhood s average construction year, positioning it competitively against older stock; however, investors should still plan for selective system upgrades and modernization to maintain appeal and reduce long-term capital risk.
According to WDSuite s CRE market data, the neighborhood s overall safety profile compares favorably to many U.S. neighborhoods, with crime measures in the upper tiers nationally. Recent year-over-year trends indicate notable declines in both property and violent offenses, suggesting improving conditions rather than deterioration.
As with most Urban Core locations in the Los Angeles-Long Beach-Glendale metro, safety can vary block to block; investors should focus on property-level controls (lighting, access management, and resident engagement) to support retention and limit operating volatility.
Proximity to a diverse employment base supports renter demand and commute convenience, led by healthcare, industrial gases, consumer products, and airline operations located within a reasonable drive of the asset.
- Molina Healthcare — healthcare insurer (5.7 miles) — HQ
- Air Products & Chemicals — industrial gases (6.5 miles)
- Airgas — industrial gases & welding supply (12.5 miles)
- Mattel — toys & consumer products (14.1 miles) — HQ
- Southwest Airlines — airline operations office (16.0 miles)
This 24-unit asset offers exposure to a renter-heavy pocket of San Pedro where neighborhood occupancy ranks in the top quartile nationally, supporting income durability. Elevated regional home values reinforce reliance on multifamily housing, while household growth within a 3-mile radius points to a gradually expanding renter pool. Built in 1985, the property stands newer than much of the surrounding stock, providing a relative advantage versus older assets with the option to drive value through targeted modernization.
According to commercial real estate analysis from WDSuite, daily-needs access is strong (notably grocery and pharmacy density), which supports resident retention, though limited parks and cafes may temper lifestyle appeal compared with amenity-rich neighborhoods. Overall, fundamentals suggest stable demand with potential for measured rent growth, balanced by prudent capital planning and active asset management.
- Renter-heavy housing stock and top-quartile occupancy support leasing stability
- 1985 vintage out-positions older competitive stock with value-add potential via targeted upgrades
- Strong grocery/pharmacy access aids retention and day-to-day convenience
- High-cost ownership market reinforces sustained rental demand and pricing power
- Risks: limited parks/cafes and ongoing capital needs for systems and modernization