| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 70th | Good |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1210 N Las Palmas Ave, Los Angeles, CA, 90038, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1989 |
| Units | 36 |
| Transaction Date | 1995-03-24 |
| Transaction Price | $1,609,100 |
| Buyer | WELLS FARGO BANK NATIONAL ASSN |
| Seller | LAS PALMAS DEVELOPMENT CO |
1210 N Las Palmas Ave Los Angeles 36-Unit Multifamily
Renter demand is reinforced by a high renter-occupied share and elevated ownership costs in the surrounding neighborhood, according to WDSuite’s CRE market data. Investors should view this as a steady leasing backdrop with pricing power tempered by tenant affordability considerations.
The property sits in an Urban Core pocket of Los Angeles where the neighborhood ranks 327 out of 1,441 metro neighborhoods—competitive among Los Angeles-Long Beach-Glendale neighborhoods and within the top quartile. Local dynamics favor multifamily: the renter-occupied share of housing units is high (neighborhood-level), supporting a deep tenant base and consistent leasing velocity.
Daily needs are well covered nearby, with high densities of grocery and pharmacy options compared with national norms, while restaurants are plentiful. Parks and cafes are less concentrated in this immediate neighborhood, which may modestly limit lifestyle appeal relative to other core areas, but proximity to services still supports renter retention.
Neighborhood-level rent is positioned in the upper range nationally and has grown meaningfully over the last five years, signaling durable demand. Occupancy in the neighborhood is around the metro middle with only a slight five-year drift, suggesting stable, though not overheated, conditions that support underwriting for steady operations based on CRE market data from WDSuite. Average school ratings in the area score lower relative to national comparisons, an important consideration for family-oriented renter segments.
Within a 3-mile radius, the current population has been relatively flat to slightly down over the last five years, while household counts edged up and are projected to expand further, indicating smaller average household sizes and a broader renter pool over time. Elevated home values relative to incomes in the neighborhood place the area among the more expensive ownership markets nationally, which typically sustains multifamily demand and supports lease-up and renewal prospects, while requiring attention to rent-to-income ratios for retention risk management.
Safety indicators for the neighborhood compare roughly around the national middle overall, with recent year-over-year improvements. While offense rates have historically been higher than many U.S. neighborhoods, both property and violent incident estimates have shown notable declines in the latest year, a constructive trend for long-term operators.
Within the Los Angeles-Long Beach-Glendale metro, the neighborhood’s rank places it around the middle of the pack among 1,441 neighborhoods. For investors, the key takeaway is to underwrite routine security and lighting upgrades and monitor trend lines, while recognizing the directional improvement that may support leasing confidence over time.
The area draws from a concentrated entertainment and media employment base that supports renter demand through short commutes and industry clustering, including Live Nation Entertainment, Activision Blizzard Studios, Radio Disney, and Disney.
- Live Nation Entertainment — entertainment (0.7 miles)
- Live Nation Entertainment — entertainment (3.8 miles) — HQ
- Activision Blizzard Studios — media & gaming (4.1 miles)
- Radio Disney — media (4.1 miles)
- Disney — entertainment (4.5 miles) — HQ
Built in 1989, the asset is newer than much of the surrounding neighborhood stock, which can provide a competitive edge versus older properties while still warranting targeted system updates and modernization over a typical hold. Neighborhood fundamentals point to a deep renter base, elevated ownership costs, and service-rich amenities that support demand; underwriting should balance this with measured exposure to tenant affordability pressure and modestly variable occupancy at the neighborhood level.
Within a 3-mile radius, household counts have inched up and are projected to expand further, implying a larger tenant base ahead and potential support for occupancy stability. According to CRE market data from WDSuite, neighborhood rents sit in a higher national bracket, reinforcing revenue potential but calling for disciplined lease management to protect retention.
- 1989 vintage offers a relative competitive position versus older local stock, with clear value-add pathways through modernization.
- High neighborhood renter concentration supports leasing depth and tenant replacement efficiency.
- Elevated neighborhood rents and strong service access underpin revenue potential with prudent pricing strategies.
- Growing household counts within 3 miles suggest a larger renter pool that can support occupancy over time.
- Risks: tenant affordability pressure, variable school quality, and the need for ongoing security and asset upkeep.