Antione Jordan was convicted of kidnapping and sexually assaulting several women at knife point near the University of Southern California in the 1980s.
Jordan moved to Fullerton last month and registered with local police, as he is required to do.
Authorities put up flyers to warn residents.
"I am very stressed out over it. It's a dangerous situation to put our children in," said one resident. "We have a lot of children who walk in and out of the neighborhood."
Jordan was released in 2005 after serving 22 years in prison.