| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 33rd | Poor |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1131 Elden Ave, Los Angeles, CA, 90006, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1988 |
| Units | 22 |
| Transaction Date | 2002-08-26 |
| Transaction Price | $1,825,000 |
| Buyer | FEDORA MANAGEMENT LLC |
| Seller | WONGS PARTNERSHIP |
1131 Elden Ave Los Angeles Urban Core Multifamily
Positioned in Los Angeles’s urban core, the asset benefits from deep renter demand and amenity density that support occupancy stability, according to WDSuite’s CRE market data.
Located in an A- rated Urban Core neighborhood, the property sits within one of Los Angeles’s more competitive areas for multifamily performance (ranked 369 among 1,441 metro neighborhoods). Amenity access is a clear strength, with restaurants, groceries, and pharmacies in very high national percentiles, providing daily-life convenience that supports leasing and retention.
The neighborhood’s housing stock skews older, but this asset’s 1988 vintage is newer than the area’s average construction year (1967). For investors, that generally implies comparatively lower near-term capital needs than pre-1970s buildings, while still leaving room for targeted modernization to enhance competitive positioning and push rents through value-add execution.
Renter concentration is among the highest in the metro: 86.5% of housing units are renter-occupied (ranked 16 of 1,441), indicating a deep tenant base and durable demand for multifamily. At the neighborhood level, occupancy sits near the national mid-range, which suggests operational stability with scope for gains via renovations, marketing, or unit-mix optimization.
Within a 3-mile radius, demographic data show households increasing even as population edges down, pointing to smaller household sizes and a larger renter pool entering the market. Median contract rents have risen over the past five years while incomes have also increased, reinforcing demand for professionally managed apartments; however, rent-to-income readings indicate some affordability pressure, which calls for disciplined lease management and renewals.
Home values in the neighborhood are elevated relative to national benchmarks, characteristic of a high-cost ownership market in Los Angeles. For multifamily operators, that context tends to sustain renter reliance on apartments and can support pricing power and lease retention, particularly where renovated units differentiate from older local stock. Average school ratings in the area are lower, which can modestly narrow family demand profiles but has less impact on the sizable young-adult renter cohort typical of the urban core.
Safety metrics compare favorably to many neighborhoods nationwide, with overall crime readings in the upper third nationally. Within the Los Angeles-Long Beach-Glendale metro, the area is competitive among 1,441 neighborhoods, while year-over-year trends indicate notable declines in both property and violent offense estimates. These directional improvements are supportive of renter retention and leasing, though conditions can vary by block and property operations.
Investors should underwrite with neighborhood-level comparisons rather than block-specific assumptions and continue standard measures such as lighting, access control, and community engagement to sustain the improving trend.
Proximity to major employers such as CBRE Group, Microsoft, Reliance Steel & Aluminum, and Live Nation Entertainment supports commuter convenience and a broad white-collar renter base in the immediate area.
- CBRE Group — commercial real estate services (2.0 miles) — HQ
- Microsoft — technology offices (2.1 miles)
- Reliance Steel & Aluminum — metals & distribution (2.1 miles) — HQ
- Live Nation Entertainment — entertainment corporate offices (4.8 miles)
This 22-unit, 1988-vintage asset offers a balanced value-add story in a neighborhood with strong amenity density, deep renter concentration, and occupancy near the national mid-range. Newer-than-area-average construction provides a platform for targeted upgrades to drive rent premiums versus older local stock, while the high-cost ownership landscape in Los Angeles continues to reinforce reliance on multifamily housing.
According to CRE market data from WDSuite, neighborhood NOI-per-unit performance trends strong versus national benchmarks and renter share is among the highest in the metro, supporting a broad tenant base and durable leasing. Forward-looking 3-mile demographics indicate more households even as population contracts, implying smaller household sizes and continued renter pool expansion—a constructive backdrop for stabilization and renewal strategies.
- 1988 vintage is newer than the area average, with potential to capture premiums through modernization
- Amenity-rich urban core location supports leasing velocity and retention
- High-cost ownership market reinforces sustained renter demand and pricing power
- Risk: affordability pressure and lower school ratings warrant careful lease management and unit positioning