It's safe, provided you:
1) Try not to walk alone... its better off getting a friend to walk with you or to call Campus Cruiser, which is perhaps the best way to get anywhere.
2) Don't go past the Coliseum, cuz that's where the real ghetto starts.
3) Don't start flashing your phones, mp3 players, wallets, keys, etc. You don't want to attract unnecessary attention to yourself.
4) Keep your eyes and ears open and be aware of what's going on. After all, it IS South Central so stuff is bound to happen. But if you keep your wits about you, you should be fine.
5) Have an idea where you're headed if you're going somewhere off-campus or out of the neighborhood.