| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 32nd | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 303 E Denni St, Wilmington, CA, 90744, US |
| Region / Metro | Wilmington |
| Year of Construction | 1972 |
| Units | 28 |
| Transaction Date | 2019-09-19 |
| Transaction Price | $4,575,000 |
| Buyer | CHIANG CHI HONG |
| Seller | STERN MAUREEN R |
303 E Denni St Wilmington Multifamily Investment Opportunity
Neighborhood occupancy remains high and steady, supporting income durability for a 28-unit asset, according to WDSuite s CRE market data. With strong renter concentration nearby, investor focus is on tenant retention and prudent value-add execution rather than lease-up risk.
Wilmington s Urban Core setting offers practical fundamentals for workforce housing. The neighborhood s occupancy is strong and in the top quartile nationally, indicating stable leasing conditions relative to many U.S. submarkets, while ranking 396 out of 1,441 Los Angeles metro neighborhoods (above metro median). A renter-occupied share of 60.9% points to a deep tenant base and consistent demand for multifamily units in this part of Los Angeles County.
Daily needs are well served: grocery and restaurant density each sit around the upper national percentiles, which helps support livability and retention. By contrast, parks, pharmacies, and cafes are comparatively sparse in this neighborhood, which is a consideration for amenity-driven positioning. Average school ratings align near the national midpoint, which supports broad family renter appeal without commanding premium rent expectations.
Home values in the neighborhood test high versus national benchmarks (around the 90th percentile), and the value-to-income ratio sits among the nation s higher readings. For investors, this high-cost ownership context tends to sustain multifamily demand and can aid pricing power, especially given a rent-to-income ratio near 0.18 that supports lease retention and measured rent growth management.
Demographic statistics aggregated within a 3-mile radius show households have grown in recent years despite a slight population dip, reflecting smaller household sizes and a broadening renter pool. Forward-looking estimates indicate additional household growth by 2028, which supports occupancy stability and ongoing demand depth for well-managed units.
The neighborhood s average construction year is 1956 (ranked 1,102 out of 1,441 metro neighborhoods), while the subject property s 1972 vintage is newer than local stock. That positioning can be competitive versus older assets, though investors should still plan for system upgrades and targeted renovations to modernize finishes and improve operating efficiency.
Safety indicators point to improving conditions year over year, with notable declines in both property and violent offense rates. The neighborhood is top quartile nationally on broader safety percentile measures, and is competitive among Los Angeles neighborhoods (ranked 355 out of 1,441). While conditions can vary by block, recent downward trends in reported offenses provide a constructive backdrop for tenant retention and leasing.
Given typical urban variability, owners should continue standard security practices and resident communication, but recent momentum suggests a supportive trend line that aligns with sustained occupancy and stable operations.
Proximity to industrial gases, healthcare, consumer products, and defense employers supports a broad workforce renter base and convenient commutes for tenants. The following nearby employers anchor local demand and can aid retention.
- Air Products & Chemicals corporate offices (2.5 miles)
- Molina Healthcare healthcare services (3.6 miles) HQ
- Airgas industrial gases (8.5 miles)
- Mattel consumer products (12.0 miles) HQ
- Raytheon Public Safety RTC defense & aerospace offices (12.8 miles)
303 E Denni St combines a renter-heavy neighborhood profile with nationally strong occupancy, reinforcing income stability for a 28-unit asset averaging about 613 square feet per unit. Based on commercial real estate analysis from WDSuite, high ownership costs in the area support continued reliance on multifamily housing, while a rent-to-income ratio near 0.18 favors retention and measured rent growth. The property s 1972 vintage is newer than the neighborhood average, suggesting competitive positioning versus older stock; targeted capital plans can unlock value through modernization and operational efficiencies.
Within a 3-mile radius, households have trended upward and are projected to increase further by 2028, even with smaller average household sizes. This points to a larger tenant base and supports occupancy stability. Local employer breadth across healthcare, industrial, and consumer sectors adds to leasing durability, though operators should account for amenity gaps and maintain thoughtful safety management consistent with urban Los Angeles standards.
- Strong neighborhood occupancy and deep renter base support stable cash flow
- High ownership costs reinforce sustained rental demand and pricing power
- 1972 vintage offers value-add and systems modernization potential versus older local stock
- Diverse nearby employers underpin workforce demand and retention
- Risks: limited parks/cafes and urban safety perceptions require proactive management