| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 77th | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 S Manhattan Pl, Los Angeles, CA, 90004, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 1995-12-11 |
| Transaction Price | $1,150,000 |
| Buyer | CHUNG SUNG NAM |
| Seller | FIRST FEDERAL BANK OF CALIFORNIA |
121 S Manhattan Pl Los Angeles Multifamily Investment
Neighborhood-level occupancy has trended stable and renter demand is reinforced by a high-cost ownership market, according to WDSuite’s CRE market data. This area offers dense amenities and above-median school ratings that support retention at the neighborhood level, not the property.
Positioned in Los Angeles (Urban Core), the neighborhood holding 121 S Manhattan Pl is competitive among Los Angeles–Long Beach–Glendale metro neighborhoods, ranking 65 out of 1,441 (A rating). Amenity access is a clear strength: restaurants and cafes sit in the top decile nationally, with groceries and pharmacies also elevated. These dynamics typically bolster day-to-day convenience and support renter retention.
Neighborhood schools average around a 4 out of 5 rating (about the 84th percentile nationally), which can be a leasing consideration for family-oriented renters. Parks coverage sits in the high-80s percentiles nationwide, adding to overall livability. Importantly, these are neighborhood-level indicators and not specific to the property.
On the housing side, neighborhood occupancy has held in the low-90s and sits above the national median, according to CRE market data from WDSuite. The share of renter-occupied units is among the highest nationally, indicating a deep tenant base for multifamily operators.
Within a 3-mile radius, households increased modestly over the past five years even as population edged down, implying smaller average household sizes and a shift toward more, smaller households. Projections to 2028 point to further household growth alongside a lower average household size, which typically expands the renter pool and supports occupancy stability. Median home values in the neighborhood are very high relative to U.S. norms, reinforcing reliance on rental housing and helping sustain pricing power at the neighborhood level.
Vintage context: the property (1989) is newer than the neighborhood’s average build year (1977). That typically provides a competitive edge versus older stock, though investors should still underwrite for system updates or modernization to match current renter expectations.
Neighborhood safety indicators are generally favorable in a national context. Overall crime trends sit above the national median for safety, while property and violent offense estimates are near the national middle; the latest year shows notable declines in both categories based on CRE market data from WDSuite. These are neighborhood-level measures, not block- or property-specific, and should be weighed alongside standard due diligence.
Proximity to major employers underpins a broad white-collar and creative workforce, supporting renter demand and lease retention. Nearby anchors include entertainment, professional services, technology, and industrial headquarters noted below.
- Live Nation Entertainment — entertainment (2.8 miles)
- CBRE Group — commercial real estate services (3.6 miles) — HQ
- Microsoft — software (3.6 miles)
- Reliance Steel & Aluminum — metals & distribution (3.7 miles) — HQ
- Activision Blizzard Studios — media & gaming (5.1 miles)
121 S Manhattan Pl brings 24 units built in 1989 to a neighborhood with dense amenities, above-median school ratings, and an established renter base. Neighborhood occupancy has held in the low-90s and trends above the national midpoint, and, according to CRE market data from WDSuite, renter-occupied share ranks among the highest nationally—signaling depth in the tenant pool. Elevated neighborhood home values relative to incomes tend to sustain rental demand and support pricing power, while the property’s vintage is newer than the area average, offering a competitive position versus older stock with selective modernization potential.
Within a 3-mile radius, households have grown while population has softened slightly, pointing to smaller household sizes and a broader base of potential renters. Forward-looking projections indicate continued household growth and rising incomes locally, which can aid occupancy stability and rent performance. Risks to underwrite include macro sensitivity in an urban core and sector exposure across the local job base, though recent neighborhood-level offense trends have improved.
- Dense amenities and above-median schools support retention and leasing velocity at the neighborhood level.
- 1989 vintage is newer than the local average, offering competitive positioning with targeted value-add potential.
- High ownership costs reinforce sustained rental demand and pricing power for multifamily.
- 3-mile household growth and smaller household sizes expand the renter pool and support occupancy stability.
- Key risks: urban-core cyclicality and variable micro-location dynamics; continue property-level diligence.