| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 40th | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1623 E 118th Pl, Los Angeles, CA, 90059, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1990 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1623 E 118th Pl Los Angeles Multifamily Investment
This 49-unit property built in 1990 offers value-add potential in an urban core neighborhood with strong renter demand, supported by 95% neighborhood occupancy rates according to WDSuite's CRE market data.
Located in an urban core neighborhood of Los Angeles, this property sits in an area ranked 805th among 1,441 metro neighborhoods with a B- overall rating. The neighborhood demonstrates strong rental fundamentals with 95% occupancy and 47% of housing units renter-occupied, indicating solid tenant demand within the broader Los Angeles market.
Built in 1990, the property represents newer construction compared to the neighborhood average of 1964, potentially offering reduced near-term maintenance requirements and stronger competitive positioning. Demographics within a 3-mile radius show a stable tenant base with 327,000 residents and average household sizes of 3.9, supporting consistent rental demand.
The area shows mixed affordability dynamics with median household income of $75,474 and contract rents at $1,523. Home values averaging $597,262 in the 89th percentile nationally may help sustain rental demand by keeping ownership costs elevated. However, rent-to-income ratios suggest affordability pressures that require careful lease management and retention strategies.
Amenity access varies significantly, with strong childcare density (98th percentile nationally) and adequate park access (88th percentile), while retail amenities like cafes and pharmacies are limited. The neighborhood benefits from grocery store access and restaurant options that support tenant satisfaction and retention.
Crime metrics show the neighborhood performing near the middle of the Los Angeles metro, ranking 867th among 1,441 neighborhoods with a 48th percentile national rating. Property crime rates of 1,145 incidents per 100,000 residents place the area in the 20th percentile nationally, indicating higher property crime compared to national averages.
Positive trends include notable crime reductions, with property crime declining 44% and violent crime decreasing 37% year-over-year. These improvements suggest ongoing neighborhood stabilization that may support tenant retention and property values over time.
The property benefits from proximity to major corporate employers including industrial and technology companies that provide workforce housing demand.
- Airgas — industrial gases (5.4 miles)
- Coca-Cola Downey — beverage operations (6.9 miles)
- Raytheon Public Safety RTC — defense technology (7.4 miles)
- Air Products & Chemicals — industrial chemicals (7.8 miles)
- Mattel — consumer products (8.4 miles) — HQ
This 49-unit property presents a value-add opportunity in an established Los Angeles neighborhood with stable fundamentals. The 1990 construction year provides a balance of modern systems while offering renovation upside potential. Neighborhood occupancy at 95% and strong renter concentration indicate consistent demand, though affordability pressures require active lease management strategies.
Demographics within the 3-mile radius support long-term rental demand with forecast household growth of 37% over five years and median income projected to increase 46% to $91,623. According to multifamily property research from WDSuite, the area's urban core designation and proximity to major employers provide workforce housing advantages despite mixed crime metrics.
- High neighborhood occupancy (95%) indicates strong rental demand
- 1990 construction offers value-add potential with modern building systems
- Projected 37% household growth supports future tenant demand
- Urban core location provides workforce housing advantages
- Risk: Crime metrics and affordability pressures require active management