| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 31st | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 888 W 9th St, San Pedro, CA, 90731, US |
| Region / Metro | San Pedro |
| Year of Construction | 1983 |
| Units | 21 |
| Transaction Date | 1994-10-17 |
| Transaction Price | $905,000 |
| Buyer | DIBERNARDO FRED J |
| Seller | GALLETTI JOSEPH |
888 W 9th St San Pedro Multifamily Investment
Stabilized renter demand in an Urban Core pocket of San Pedro, with neighborhood occupancy trending in the mid-90s according to WDSuite s CRE market data. For investors, the area s depth of renters and high-cost ownership market point to durable leasing fundamentals at the sub-neighborhood level.
Positioned in San Pedro s Urban Core, the property benefits from a renter-driven neighborhood where roughly three-quarters of housing units are renter-occupied, supporting a deep tenant base. Neighborhood occupancy is about 95% (neighborhood level), which is above many national readings and suggests steady lease-up and renewal potential based on CRE market data from WDSuite.
Daily needs are well covered: restaurants, groceries, cafes, pharmacies, and childcare options score in high national percentiles, indicating strong amenity density relative to U.S. neighborhoods. Parks are limited within the immediate neighborhood, so outdoor space is more destination-based than walk-up; investors should weigh this when assessing resident retention drivers.
Compared with Los Angeles-Long Beach-Glendale metro peers (1,441 neighborhoods), overall neighborhood quality sits above the metro median, and crime ranks competitive among local neighborhoods while landing in the top quartile nationally for safety. Average school ratings are below national norms, which may dampen appeal for some family renters but is typical for many urban cores and can be offset by commute convenience and services.
Within a 3-mile radius, demographics show modest population growth recently and a projected increase in households over the next five years, signaling a larger tenant base and potential renter pool expansion. Elevated home values relative to national norms indicate a high-cost ownership market, which tends to sustain demand for rental housing and can support pricing power when balanced against local affordability.
Neighborhood safety trends compare favorably at a national level, with the area landing in the top quartile nationwide. Within the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods), the neighborhood s crime rank is competitive among peers, indicating comparatively lower incident levels than many urban sub-areas.
Recent data also shows pronounced year-over-year declines in both violent and property offenses, a constructive trajectory for leasing stability and resident retention. As always, safety varies by block and over time; investors should underwrite to localized trends rather than single-period readings.
Nearby anchor employers span healthcare, industrial gases, and consumer goods, supporting workforce-driven renter demand and commute convenience for residents. This employment base includes Molina Healthcare, Air Products & Chemicals, Airgas, and Mattel.
- Molina Healthcare healthcare services (5.9 miles) HQ
- Air Products & Chemicals industrial gases (6.5 miles)
- Airgas industrial gases (12.5 miles)
- Mattel consumer products (13.8 miles) HQ
Built in 1983, this 21-unit asset sits newer than the neighborhood s average vintage, giving it a competitive edge versus older stock while leaving room for targeted modernization and operational value-add. Neighborhood-level occupancy near the mid-90s and a high renter concentration underpin demand resilience, while high ownership costs in San Pedro support consistent reliance on multifamily housing. According to WDSuite s commercial real estate analysis, amenity density is strong, helping leasing and renewal prospects even as park access is more limited locally.
Within a 3-mile radius, recent population growth and a projected increase in households point to a larger tenant base over the next cycle, supporting occupancy stability. Key underwriting considerations include managing affordability pressure (rent-to-income runs elevated at the neighborhood level), below-average school ratings, and the need for ongoing capital planning typical of 1980s construction.
- 1983 vintage offers competitive positioning vs. older stock, with selective renovation upside
- Renter-heavy neighborhood and mid-90s neighborhood occupancy support leasing stability
- High-cost ownership market reinforces sustained rental demand and pricing power
- Strong amenity density (groceries, pharmacies, restaurants) aids retention despite limited park access
- Risks: elevated rent-to-income at neighborhood level, below-average schools, and ongoing capex for 1980s systems