| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Poor |
| Demographics | 12th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7621 S Figueroa St, Los Angeles, CA, 90003, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2012 |
| Units | 35 |
| Transaction Date | 2011-08-09 |
| Transaction Price | $500,005 |
| Buyer | FIGUEROA 7621 L P |
| Seller | THE CENTURY COMMUNITY LENDING COMPANY LL |
7621 S Figueroa St, Los Angeles — 35-Unit Multifamily
Positioned in a renter-heavy South Los Angeles neighborhood, the asset benefits from steady local occupancy and a deep tenant base, according to WDSuite’s CRE market data. The 2012 vintage offers competitive positioning versus older area stock while leaving room for targeted modernization over time.
The property sits within an Urban Core pocket of Los Angeles where neighborhood occupancy trends are in the mid-90s, placing the area above many locations nationwide and around metro norms (ranked against 1,441 Los Angeles-Long Beach-Glendale neighborhoods). A high renter-occupied share at the neighborhood level (nationally in the upper percentiles) signals depth of tenant demand and supports leasing stability for multifamily owners.
Street-level amenities skew toward daily convenience and food service. Restaurant and cafe densities benchmark in the higher national percentiles, while grocery access is solid relative to many urban areas. However, neighborhood data indicate limited nearby parks, pharmacies, and childcare facilities; owners should anticipate residents relying on broader trade-area options and consider on-site services where feasible.
Home values in the surrounding area are elevated by national standards and the value-to-income ratio sits in a very high national percentile. In practice, this high-cost ownership market reinforces reliance on rental housing and can aid pricing power and retention for well-managed communities, while still requiring attention to rent-to-income thresholds to manage affordability pressure.
The asset’s 2012 construction is newer than the neighborhood’s average vintage (measured across 1,441 metro neighborhoods). That recency can be a competitive edge against older local stock; investors should still plan for ongoing systems maintenance and potential interior refreshes to meet current renter expectations. Within a 3-mile radius, recent history shows modest population and household growth with incomes trending upward, and forward-looking projections suggest smaller household sizes with households increasing even if the population softens—dynamics that can expand the renter pool but warrant monitoring for absorption and turnover management, based on CRE market data from WDSuite.
Neighborhood safety signals are mixed and should be evaluated in a metro context. Relative to 1,441 Los Angeles-Long Beach-Glendale neighborhoods, current crime positioning indicates areas of concern compared with the metro median, while national benchmarking shows property offenses around average and violent offenses below national averages. Importantly, one-year trend data indicate sharp declines in both violent and property offense estimates, placing the neighborhood in top improvement tiers nationally; investors may want to underwrite continued caution while acknowledging recent directional progress.
Proximity to diverse employers within roughly 6–7 miles supports workforce housing demand and commute convenience. Notable nearby employment nodes include commercial real estate services, metals distribution, technology, cybersecurity, and airline operations.
- CBRE Group — commercial real estate services (5.9 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (5.9 miles) — HQ
- Microsoft — technology (6.0 miles)
- Symantec — cybersecurity (6.2 miles)
- Southwest Airlines Counter — airline operations (7.0 miles)
This 35-unit, 2012-vintage asset offers relative competitiveness versus older local inventory in a renter-dense Urban Core location. Neighborhood occupancy levels hover in the mid-90s, and elevated ownership costs in the area reinforce sustained reliance on multifamily housing. Within a 3-mile radius, recent growth in households alongside rising incomes points to a larger tenant base, while projections of smaller household sizes suggest continued demand for professionally managed apartments, according to commercial real estate analysis from WDSuite.
Key underwriting considerations include mixed but improving safety trends, lower-performing local schools, and limited nearby parks/pharmacies/childcare, which place a premium on on-site services and operational execution. With thoughtful capital planning, the property’s newer construction can be leveraged through targeted updates to support rent and retention outcomes.
- 2012 vintage provides a competitive edge versus older neighborhood stock with manageable modernization needs
- High neighborhood renter concentration and mid-90s occupancy support leasing stability
- Elevated ownership costs underpin rental demand and potential pricing power
- Diverse employers within ~6–7 miles bolster the local workforce renter base
- Risks: mixed safety relative to metro, service gaps (parks/pharmacies/childcare), and school ratings require conservative underwriting