| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 48th | Fair |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21240 S Western Ave, Torrance, CA, 90501, US |
| Region / Metro | Torrance |
| Year of Construction | 1979 |
| Units | 29 |
| Transaction Date | 2018-07-24 |
| Transaction Price | $6,300,000 |
| Buyer | CORONA DEL NORTE LLC |
| Seller | CORONA LP |
21240 S Western Ave Torrance Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by a majority of renter-occupied housing and a high-cost ownership market, according to WDSuite’s CRE market data.
This Urban Core pocket of Torrance offers daily convenience that supports tenant retention. Restaurant and cafe density ranks in the top quartile nationally, and pharmacies are similarly strong, while park and childcare options are limited — an operational consideration for family-oriented marketing. Average school ratings sit modestly above national norms, which can aid leasing to households prioritizing education.
At the neighborhood level, occupancy trends are mid-to-high, and 57.2% of housing units are renter-occupied — a meaningful renter concentration that implies a broad tenant base for multifamily owners. Compared with the Los Angeles-Long Beach-Glendale metro’s 1,441 neighborhoods, amenity access is competitive among peers, though overall neighborhood performance is mixed and not uniformly top-tier.
Home values sit in a high national percentile, indicating a high-cost ownership market that tends to reinforce rental demand and support lease retention. Median contract rents in the area remain aligned with local incomes (rent-to-income ratios are lower than many U.S. neighborhoods), which can mitigate affordability pressure and reduce turnover risk.
Built in 1979, the property is newer than the neighborhood’s average 1973 vintage, suggesting relative competitiveness versus older stock. Investors should still plan for periodic system modernization and selective upgrades to sustain positioning. Demographic statistics aggregated within a 3-mile radius show stable population, growth in household counts, and rising incomes — dynamics that expand the renter pool and support occupancy, based on commercial real estate analysis trends observed in WDSuite’s dataset.
Safety indicators compare favorably both locally and nationally. The neighborhood’s crime rank is competitive among Los Angeles-Long Beach-Glendale’s 1,441 neighborhoods, and national safety percentiles are in the upper tiers, placing the area above many U.S. neighborhoods for comparative safety.
Recent trend data shows notable improvement in estimated offense rates year over year, particularly for violent and property incidents. While conditions can vary by block and over time, the directional pattern supports an operational narrative of stable to improving safety relative to regional peers.
Proximity to diversified corporate employment underpins renter demand and commute convenience, led by manufacturing, toys/consumer products, healthcare administration, and industrial gas suppliers noted below.
- Air Products & Chemicals — industrial gases (4.7 miles)
- Mattel — toys/consumer products (7.5 miles) — HQ
- Molina Healthcare — healthcare administration (7.9 miles) — HQ
- Airgas — industrial gases (8.7 miles)
- Southwest Airlines Counter — airline services (9.3 miles)
This 29-unit 1979 asset benefits from a deep local renter base, competitive amenity access, and a high-cost ownership landscape that tends to reinforce sustained multifamily demand. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is elevated and occupancy is steady, while household counts within a 3-mile radius are growing even as average household size trends smaller — factors that expand the tenant base and support leasing stability.
Relative to the neighborhood’s older average vintage, the property’s 1979 construction provides an edge versus aging stock, with potential to capture additional value through targeted system modernization and interior upgrades. High national percentiles for home values suggest continued reliance on rental housing, while rents remain generally aligned with area incomes — a combination that supports retention and measured pricing power over time.
- Deep renter base and steady neighborhood occupancy support leasing stability.
- 1979 vintage is newer than nearby averages, offering competitive positioning with value-add upside.
- High-cost ownership market reinforces reliance on rentals and aids retention.
- 3-mile trends show rising household counts and incomes, expanding the tenant pool.
- Risks: limited parks/childcare nearby and mixed neighborhood ranks may temper appeal for some renters.