| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 23rd | Poor |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 N Wilmington Blvd, Wilmington, CA, 90744, US |
| Region / Metro | Wilmington |
| Year of Construction | 1987 |
| Units | 107 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
450 N Wilmington Blvd 107-Unit Multifamily (1987)
Neighborhood occupancy is stable and renter demand is deep, according to WDSuite’s CRE market data, positioning this 1987-built, 107-unit asset for consistent leasing in Wilmington within the Los Angeles metro.
Located in Wilmington, an Inner Suburb within the Los Angeles-Long Beach-Glendale metro, the property benefits from neighborhood-level occupancy near the mid-90s and an above-metro-median standing among 1,441 neighborhoods. A high share of renter-occupied housing units (roughly three-quarters of neighborhood units) signals a sizable tenant base that can support multifamily absorption and retention. Figures reference the neighborhood, not the property.
Amenities are mixed: restaurant density trends above national medians, and park access places the neighborhood in a strong national percentile, while cafes, groceries, and pharmacies are sparse locally. Average school ratings sit near the national middle, which may inform leasing strategy and family-oriented unit positioning.
Ownership costs in the neighborhood reflect a high-cost ownership market relative to incomes (elevated home values and a high value-to-income ratio), which typically sustains reliance on rentals and can aid lease retention. At the same time, neighborhood rent-to-income metrics trend favorably versus many U.S. areas, suggesting manageable affordability pressure that can support occupancy and measured pricing power.
Within a 3-mile radius, demographics show recent population softness alongside growth in households, with projections indicating further household increases and smaller average household sizes. This pattern points to a larger renter pool over time and supports demand for multifamily units, even as population growth moderates. These dynamics align with broader Los Angeles metro trends where renter household growth can outpace population changes, based on CRE market data from WDSuite.
Vintage matters: the property’s 1987 construction is newer than the neighborhood’s average stock from the early 1960s. That relative youth supports competitive positioning versus older nearby assets, while still warranting capital planning for aging systems and selective modernization to capture value-add upside.
Safety indicators are competitive among Los Angeles-Long Beach-Glendale, CA neighborhoods (measured against 1,441 neighborhoods), with overall crime levels ranking in a stronger tier locally and landing in the top quartile nationally. Recent WDSuite data also shows meaningful year-over-year declines in both violent and property offense estimates, a constructive trend for tenant retention and leasing stability. These figures represent neighborhood conditions rather than the property specifically.
The employment base nearby blends healthcare headquarters, consumer products, industrial gases, and telecom operations, supporting workforce renter demand and commute convenience for residents. The following employers anchor this demand: Molina Healthcare (HQ), Air Products & Chemicals, Airgas, Mattel (HQ), and Time Warner Business Class.
- Air Products & Chemicals — industrial gases (3.6 miles)
- Molina Healthcare — healthcare services (4.3 miles) — HQ
- Airgas — industrial gases (9.6 miles)
- Mattel — consumer products (12.1 miles) — HQ
- Time Warner Business Class — telecom services (13.9 miles)
This 107-unit multifamily property, built in 1987, benefits from neighborhood fundamentals that favor sustained renter demand: occupancy trends above the metro median among 1,441 Los Angeles neighborhoods, a high concentration of renter-occupied units, and a high-cost ownership landscape that reinforces reliance on rentals. According to CRE market data from WDSuite, neighborhood rent-to-income conditions are relatively manageable versus many U.S. areas, which supports occupancy stability and measured rent growth management.
Demographic data within a 3-mile radius indicates modest population softness but ongoing and projected household growth alongside smaller household sizes—conditions that typically expand the renter pool over time. The 1987 vintage is newer than much of the local stock, providing competitive positioning and potential value-add through modernization and system updates to enhance rentability and operational efficiency.
- Occupancy above metro median and strong renter concentration support stable demand
- High-cost ownership market bolsters rental reliance and lease retention
- 1987 vintage offers competitive positioning with value-add modernization potential
- 3-mile household growth and smaller sizes point to renter pool expansion
- Risk: limited nearby daily retail and average schools may influence tenant mix and leasing strategy