Although ferromagnetism is in general a long-range collective phenomenon, it is possible to induce local spatial variations of magnetic properties in ferromagnetic materials. For example, systematic variation of the exchange coupling strength can be used to create systems that behave as if they are comprised of virtually independent segments that exhibit local Curie temperatures. Such localization of thermodynamic behavior leads to boundaries between strongly and weakly magnetized regions that can be controllably moved within the material with temperature. The utility of this interesting functionality is largely dependent on the inherent spatial resolution of magnetic properties - specifically the distance over which the exchange strength and corresponding properties behave locally. To test the degree to which this type of localization can be realized in materials, we have fabricated epitaxial films of Co[1-x]Ru[x] alloy featuring a nanometer scale triangular wave-like concentration depth profile. Continuous nanoscale modulation of the local Curie temperature was observed using polarized neutron reflectometry. These results are consistent with mean-field simulations of spin systems that encompass the possibility of delocalized exchange coupling, and show that composition grading can be used to localize magnetic properties in films down to the nanometer level. Since this is demonstrated here for an itinerant metal, we assert that for virtually any modulated magnetic material system, collective effects can be suppressed to length scales smaller than about 3 nm, so that magnetic behavior overall can be well described in terms of local material properties.