| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 23rd | Poor |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 508 Gulf Ave, Wilmington, CA, 90744, US |
| Region / Metro | Wilmington |
| Year of Construction | 1986 |
| Units | 40 |
| Transaction Date | 1997-08-26 |
| Transaction Price | $910,000 |
| Buyer | FIRST FEDERAL BANK OF CALIFORNIA |
| Seller | WEST ANTHONY W CO TR WEST FAMILY TRUST |
508 Gulf Ave Wilmington Multifamily Investment
Neighborhood metrics point to durable renter demand and above-median occupancy, according to WDSuite s CRE market data, supporting stable cash flow potential. The area 27s high renter concentration reinforces depth of the tenant base for a 1980s garden asset.
Situated in Wilmington within the Los Angeles metro, the property benefits from an Inner Suburb setting where neighborhood occupancy is measured at the neighborhood level and trends above national medians. The local renter-occupied share is high, indicating a deep tenant pool that can support leasing velocity and retention for multifamily assets.
Housing indicators benchmark competitively: neighborhood housing performance sits in the top quartile nationally, and median contract rents are above national norms while rent-to-income levels remain manageable for many local households. In a high-cost ownership market (home values rank well above national averages and value-to-income is elevated), renting remains a practical alternative, which can reinforce pricing power and length of stay for well-managed properties.
Day-to-day access is mixed: parks density is above national averages and restaurants track in the 70s nationally by density, while cafes, groceries, and pharmacies are comparatively limited at the neighborhood scale. Average school ratings sit near the national midpoint, suggesting mainstream family appeal without commanding premium school-driven pricing.
Demographic statistics aggregated within a 3-mile radius show household counts have been rising and are projected to continue increasing even as average household size trends lower. This points to a broader number of leaseholders and supports occupancy stability. Income measures in the 3-mile area have strengthened over recent years, which can underpin rent growth capacity when paired with prudent lease management.
Safety indicators compare favorably versus many U.S. neighborhoods: overall crime sits in the upper third nationally, and violent offense metrics are around midpack. Property offense readings are closer to national averages. Recent year-over-year estimates indicate notable declines in both violent and property offenses, suggesting improving conditions rather than deterioration.
As with any infill Los Angeles submarket, conditions can vary block to block; investors typically underwrite with standard security measures and lighting upgrades, monitoring trends alongside metro benchmarks rather than relying on a single-year snapshot.
Nearby employers span manufacturing, healthcare, consumer products, and industrial gases, providing a diversified employment base that supports renter demand and commute convenience for workforce tenants. The list below reflects notable names within a ~3 14 miles to ~14 miles radius that can influence leasing and retention.
- Air Products & Chemicals — industrial gases (3.5 miles)
- Molina Healthcare — healthcare services (4.2 miles) — HQ
- Airgas — industrial gases (9.5 miles)
- Mattel — consumer products (12.1 miles) — HQ
- Coca-Cola Downey — beverage bottling (13.8 miles)
Built in 1986, the asset is newer than much of the local stock, offering a competitive position versus older 1960s-vintage supply while leaving room for targeted system updates and cosmetic upgrades to enhance rent rolls. Neighborhood-level occupancy is above national medians and renter concentration is high, supporting depth of demand for a 40-unit community with efficient average unit sizes.
According to CRE market data from WDSuite, the surrounding neighborhood scores in the top quartile nationally on housing performance and shows elevated ownership costs relative to incomes, which tends to sustain reliance on multifamily rentals. Within a 3-mile radius, household counts are expanding even as average household size trends down, pointing to a broader base of leaseholders that can support occupancy and renewals.
- 1986 vintage offers relative competitiveness versus older local stock with potential value-add through modernization.
- High renter-occupied share at the neighborhood level supports leasing velocity and retention.
- Household growth within 3 miles expands the renter pool and supports occupancy stability.
- Elevated ownership costs in the metro reinforce multifamily demand and pricing power.
- Risks: amenity retail is thinner for groceries/pharmacies and safety varies by micro-location; underwrite for standard security and convenience enhancements.