| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 38th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7019 Friends Ave, Whittier, CA, 90602, US |
| Region / Metro | Whittier |
| Year of Construction | 1990 |
| Units | 75 |
| Transaction Date | 2014-05-12 |
| Transaction Price | $7,636,576 |
| Buyer | WILLIAM PENN MANOR HOUSING LP |
| Seller | WILLIAM PENN MANOR INC |
7019 Friends Ave, Whittier Multifamily Investment Opportunity
Neighborhood occupancy is steady and renter demand is reinforced by a high-cost ownership market, according to WDSuite’s CRE market data, positioning this asset for consistent leasing performance.
Situated in Whittier’s Urban Core within the Los Angeles-Long Beach-Glendale metro, the immediate neighborhood shows solid renter fundamentals and livability drivers. Neighborhood occupancy is 93.8% (measured for the neighborhood, not the property), placing it above the national mid-range, and renter-occupied share is high at 82.8%, indicating a deep tenant base for multifamily operators.
Amenity access is a relative strength. Cafes and restaurants are dense and competitive among 1,441 Los Angeles metro neighborhoods (cafe density ranks 45 of 1,441 and sits in the 99th percentile nationally; restaurants are at the 100th percentile nationally). Childcare availability also ranks favorably (8 of 1,441; 100th percentile nationally), and pharmacies are competitive (129 of 1,441; 98th percentile nationally). By contrast, the neighborhood has limited grocery and park presence within its boundaries (both rank 1,441 of 1,441; 0th percentile nationally), so residents may rely on nearby districts for those needs.
Home values are elevated (90th percentile nationally), creating a high-cost ownership market that tends to sustain rental demand and support lease retention. However, rent-to-income in the neighborhood indicates affordability pressure, suggesting operators should emphasize renewal management and practical rent setting to maintain occupancy stability.
The average vintage in the surrounding neighborhood skews older (1953), while the subject property’s 1990 construction offers relatively newer product versus much of the local stock—supporting competitive positioning with potential to modernize systems and finishes as part of a targeted value-add plan.
Within a 3-mile radius, demographic data indicate a slight decline in population alongside near-flat household counts historically, with projections showing a meaningful increase in households by 2028 and a smaller average household size. This combination points to a larger tenant base and ongoing demand for rental units even as household composition evolves.
Comparable neighborhood-level crime metrics are not available in this dataset. Investors commonly pair submarket and city sources with property-level observations to gauge safety perceptions and their impact on leasing and retention. Given the Urban Core context and strong amenity presence, on-the-ground diligence and review of recent municipal reports can help clarify conditions and trend direction relative to the broader Los Angeles metro.
Proximity to established employers supports commuting convenience and renter demand, notably in manufacturing, utilities, and consumer goods. Nearby anchors include International Paper, LKQ, Edison International, Raytheon Public Safety RTC, and Coca-Cola Downey.
- International Paper — corporate offices (2.6 miles)
- LKQ — corporate offices (4.7 miles)
- Edison International — utilities HQ and corporate (5.9 miles) — HQ
- Raytheon Public Safety RTC — defense & technology offices (5.9 miles)
- Coca-Cola Downey — consumer goods operations (6.1 miles)
7019 Friends Ave combines a high renter concentration and steady neighborhood occupancy with competitive positioning against older local stock. Built in 1990, it is newer than the area’s average vintage (1953), offering an advantage versus aging buildings while still presenting value-add opportunities through selective modernization. Elevated home values in the neighborhood reinforce reliance on rentals and can support pricing power, though rent-to-income signals call for disciplined renewal and lease management. According to CRE market data from WDSuite, these dynamics align with durable renter demand at the neighborhood level rather than property-specific performance.
Within a 3-mile radius, households are projected to grow and average household size to decline by 2028, pointing to a broader tenant base and continued need for multifamily units even as population trends soften. Combined with proximity to major employers, these fundamentals support occupancy stability for well-operated assets.
- High renter-occupied share and above-mid neighborhood occupancy support demand depth
- 1990 vintage is competitive versus older area stock, with clear value-add pathways
- Elevated ownership costs reinforce rental reliance and potential pricing power
- 3-mile household growth outlook and employer proximity support leasing stability
- Risk: affordability pressure requires careful renewal strategies to protect retention