| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 32nd | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1100 N Banning Blvd, Wilmington, CA, 90744, US |
| Region / Metro | Wilmington |
| Year of Construction | 1976 |
| Units | 90 |
| Transaction Date | 2013-03-07 |
| Transaction Price | $10,500,105 |
| Buyer | BANNING VILLA PRESERVATION LIMITED PARTN |
| Seller | VPP BANNING VILLA APARTMENTS LP |
1100 N Banning Blvd Wilmington Multifamily Investment
Neighborhood occupancy remains resilient with a deep renter base, supporting stable leasing conditions according to WDSuite’s CRE market data. Elevated ownership costs in Los Angeles County further sustain renter demand for well-managed workforce housing.
Wilmington sits in Los Angeles’ Urban Core with neighborhood occupancy in the top quartile nationally, indicating durable renter demand and generally steady lease-up. Within the Los Angeles-Long Beach-Glendale metro’s 1,441 neighborhoods, occupancy performance is competitive, which helps underpin revenue stability for multifamily assets.
Local amenity access is mixed: grocery and dining options score strong compared with neighborhoods nationwide, while parks, pharmacies, and cafes are limited. Average school ratings land near the national midpoint, suggesting balanced appeal to a broad renter base without a premium school-driven dynamic.
Within a 3-mile radius, households have increased even as population has edged lower, and projections call for further household growth alongside smaller household sizes. For investors, that points to a larger tenant base and continued depth for smaller floorplans like the property’s average 550 sq. ft. units, supporting occupancy stability.
Home values in the area are high relative to national norms, a high-cost ownership market that tends to reinforce reliance on rental housing and supports pricing power when managed carefully. Rent levels have trended upward over the last five years and are projected to continue rising in line with broader metro fundamentals, based on commercial real estate analysis from WDSuite.
Safety indicators benchmark favorably in comparative terms: the neighborhood sits in a higher national safety percentile than many urban areas, placing it closer to the top quartile nationwide. Recent trend data also shows material year-over-year improvements in both violent and property offense rates, suggesting conditions have been moving in a positive direction.
As always with Urban Core locations in the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods total), safety outcomes can vary by corridor and time of day. Investors typically underwrite with daytime workforce activity and property-level security measures in mind while monitoring ongoing trends.
The employment base combines healthcare, industrial gases, and corporate HQ roles within commuting distance, supporting workforce housing demand and resident retention tied to nearby job centers. Employers highlighted below reflect the closest and most relevant demand drivers.
- Air Products & Chemicals — industrial gases (2.45 miles)
- Molina Healthcare — healthcare services (3.57 miles) — HQ
- Airgas — industrial gases (8.45 miles)
- Mattel — consumer products (12.07 miles) — HQ
- Time Warner Business Class — telecommunications (12.73 miles)
Built in 1976, the 90-unit asset offers mid-1970s construction relative to an older neighborhood vintage, positioning it competitively against 1950s-era stock while leaving room for targeted capital planning and value-add improvements to systems and finishes. Strong neighborhood occupancy and a high share of renter-occupied housing units indicate a deep tenant base, while high local home values tend to sustain multifamily demand.
Within a 3-mile radius, household counts have grown and are projected to expand further alongside smaller household sizes, which can benefit leasing velocity and support smaller unit mixes. Rent levels have risen over the past five years and are forecast to continue advancing; according to CRE market data from WDSuite, neighborhood occupancy trends remain above many national benchmarks, reinforcing an underwriting case centered on stable operations.
- Competitive vintage versus older local stock, with value-add and system modernization potential
- Top-quartile neighborhood occupancy supports leasing stability and revenue durability
- High-cost ownership market reinforces renter reliance, aiding pricing power when managed carefully
- 3-mile household growth and shrinking household sizes expand the renter pool for smaller units
- Risks: limited parks/pharmacy/cafe access and projected population contraction require targeted amenity programming and prudent underwriting