| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 70th | Good |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1237 N Sycamore Ave, Los Angeles, CA, 90038, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1988 |
| Units | 68 |
| Transaction Date | 1993-09-30 |
| Transaction Price | $3,200,000 |
| Buyer | ST TROPEZ PROPERTY CORP |
| Seller | COMMONWEALTH LAND TITLE COMPANY |
1237 N Sycamore Ave Los Angeles Multifamily Investment
This 68-unit property benefits from strong renter demand in an urban core neighborhood with 83% rental occupancy. Neighborhood-level occupancy trends show stability at 90.6%, according to CRE market data from WDSuite.
The property sits in an A- rated urban core neighborhood that ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for overall investment appeal. Built in 1988, the asset is newer than the neighborhood average construction year of 1963, positioning it competitively within the local rental market with reduced near-term capital expenditure needs.
Demographic data aggregated within a 3-mile radius shows a mature rental market with 79.5% of households renting versus owning. The area attracts educated professionals, with 38.3% of residents holding bachelor's degrees—ranking in the 95th percentile nationally. Median household incomes within the 3-mile radius reach $87,600, with projections indicating 37.5% growth to $120,426 by 2028, supporting tenant retention and rent growth potential.
High-density amenities strengthen tenant appeal, with the neighborhood ranking 10th among metro areas for grocery store access and 22nd for pharmacy density. Restaurant concentration ranks in the 98th percentile nationally. However, childcare availability significantly exceeds metro norms, which may indicate family-oriented demand despite smaller average household sizes. Contract rents average $1,975 in the neighborhood, representing a 46% increase over five years.
Home values averaging $1.12 million create substantial barriers to ownership, with a value-to-income ratio of 12.9 ranking in the 99th percentile nationally. This affordability gap keeps many households in the rental market longer, though investors should monitor renewal rates given the high rent-to-income burden affecting lower-income segments.
The neighborhood demonstrates mixed safety metrics that require balanced consideration. Overall crime levels rank 788th out of 1,441 metro neighborhoods, placing it near the middle of the distribution and in the 52nd percentile nationally—indicating moderate safety relative to other urban areas.
Recent crime trends show improvement, with property offenses declining 43.5% year-over-year and violent crimes dropping 62.1%. These reductions place the area in the 84th and 90th percentiles respectively for crime improvement, suggesting positive momentum in public safety initiatives. However, absolute crime rates remain elevated compared to suburban alternatives, which is typical for dense urban core locations.
The property benefits from proximity to major entertainment and technology employers that support consistent professional renter demand in the Hollywood-adjacent market.
- Live Nation Entertainment — entertainment services (0.5 miles)
- Live Nation Entertainment — entertainment services (3.3 miles) — HQ
- Activision Blizzard Studios — gaming & technology (3.7 miles)
- Radio Disney — media & broadcasting (4.1 miles)
- Disney — entertainment & media (4.5 miles) — HQ
This 68-unit urban core asset capitalizes on strong rental fundamentals in a neighborhood where 83% of residents rent rather than own. The 1988 construction year provides a competitive edge over the area's 1963 average building vintage, reducing immediate capital requirements while maintaining market positioning. Demographics within a 3-mile radius project 35% household growth and 37.5% income increases through 2028, expanding the potential tenant base and supporting rent growth.
High median home values of $1.12 million create substantial ownership barriers, with multifamily market research from WDSuite indicating a value-to-income ratio in the 99th percentile nationally. This affordability gap sustains long-term rental demand, though investors should monitor the rent-to-income burden that currently pressures lower-income segments. Proximity to entertainment industry employers provides employment stability, while dense amenity access supports tenant retention.
- Neighborhood occupancy at 90.6% indicates stable rental absorption
- 35% projected household growth within 3-mile radius through 2028
- High ownership barriers with $1.12M median home values sustain rental demand
- Risk: High rent-to-income ratios may pressure renewals among cost-sensitive tenants