| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 9th | Poor |
| Amenities | 49th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1002 N Lagoon Ave, Wilmington, CA, 90744, US |
| Region / Metro | Wilmington |
| Year of Construction | 1985 |
| Units | 62 |
| Transaction Date | 2015-09-23 |
| Transaction Price | $5,334,500 |
| Buyer | LAGOON 1010 LLC |
| Seller | LAGOON ASSOCIATES LLC |
1002 N Lagoon Ave, Wilmington CA Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to CRE market data from WDSuite, suggesting stable leasing for a 62-unit asset in a high-cost ownership setting.
Situated in Wilmington within the Los Angeles metro, the neighborhood shows resilient renter fundamentals: neighborhood occupancy is elevated (top quintile nationally), and the share of housing units that are renter-occupied is high, indicating a sizable tenant base and potential for steadier lease-up and renewals, based on WDSuite s CRE market data.
Daily-needs access is a relative strength. Grocery and pharmacy availability ranks near the top of neighborhoods nationwide, while cafes, childcare, and park access are comparatively limited. Average school ratings trail regional norms, which may temper appeal for some family renters but does not preclude workforce demand.
The property s 1985 vintage is newer than the area s older housing stock (average construction year skewed mid-20th century). That positioning can be competitive versus legacy inventory, while investors should still plan for targeted system upgrades and common-area refreshes to support rentability.
Within a 3-mile radius, households have increased in recent years and are projected to rise further even as population is expected to edge lower, implying smaller household sizes and an expanding count of renter households. Rising median incomes and contract rents in the 3-mile area point to a growing ability to support multifamily demand, though lease management should account for affordability pressure where rent-to-income ratios approach one-third.
Home values in the neighborhood are elevated versus national benchmarks, and the value-to-income ratio ranks among the highest nationally. A high-cost ownership market typically reinforces reliance on rental housing, supporting tenant retention and pricing power for well-managed multifamily assets.
Compared with neighborhoods nationwide, this area trends safer than average overall (top quartile nationally), according to WDSuite s CRE data. Within the Los Angeles metro context (1,441 neighborhoods), safety varies by micro-area; investors should underwrite to submarket norms rather than block-level assumptions.
Recent trends are constructive: estimated property and violent offense rates have declined sharply year over year relative to national patterns. Continued monitoring and engagement with professional security and lighting/visibility enhancements can help sustain leasing confidence.
Nearby corporate offices provide a diversified employment base that supports renter demand and commuting convenience, including roles in industrial gases, healthcare administration, industrial supplies, and consumer products.
- Air Products & Chemicals industry gases (2.9 miles)
- Molina Healthcare healthcare administration (4.0 miles) HQ
- Airgas industrial supplies (8.9 miles)
- Mattel consumer products (11.9 miles) HQ
- Coca-Cola Downey beverage operations (13.2 miles)
1002 N Lagoon Ave offers a 62-unit, 1985-vintage asset in a renter-heavy pocket of Los Angeles County where neighborhood occupancy is strong and ownership costs are high relative to incomes. According to CRE market data from WDSuite, the neighborhood sits in the upper tier nationally for occupancy, with a notably high share of renter-occupied units signals that typically underpin leasing stability and renewal depth when operations are well managed.
Access to daily-needs retail is a plus (notably groceries and pharmacies), and proximity to large employers expands the tenant pool. Within a 3-mile radius, households are rising and are projected to grow further even as population dips, implying smaller household sizes and a larger number of renting households. The 1985 vintage is competitive versus older local stock, with scope for targeted upgrades to drive rentability. Key underwriting considerations include affordability pressure from elevated rent-to-income dynamics, modest school ratings, and the need to continue tracking safety trends even as recent year-over-year metrics have improved.
- High neighborhood occupancy and deep renter-occupied share support leasing stability
- 1985 vintage positions competitively versus older area stock with upgrade potential
- Daily-needs retail access and employer proximity broaden the tenant base
- Household growth within 3 miles points to a larger renter pool despite softer population
- Risks: affordability pressure, modest school ratings, and the need to monitor safety perceptions