| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 70th | Good |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1255 N Orange Dr, Los Angeles, CA, 90038, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1987 |
| Units | 33 |
| Transaction Date | 2015-10-15 |
| Transaction Price | $5,761,500 |
| Buyer | ORANGE LUXURY INVESTMENTS LLC |
| Seller | NNC APARTMENT VENTURES LLC |
1255 N Orange Dr Los Angeles Multifamily Investment
This 33-unit property built in 1987 sits in a neighborhood ranking in the top quartile nationally for net operating income per unit, according to CRE market data from WDSuite.
The property's Hollywood-adjacent neighborhood ranks in the 80th percentile nationally for housing metrics, reflecting strong fundamentals for rental demand. With 83% of housing units occupied by renters within a 3-mile radius, the area sustains a deep tenant pool that supports occupancy stability. The neighborhood's median contract rent of $1,975 positions units competitively within the broader Los Angeles market.
Demographics within the 3-mile radius show 274,000 residents with a median household income of $86,770, while forecasts project household growth of 35% through 2028. This expansion translates to approximately 49,000 additional households entering the rental market, supporting long-term tenant demand. The area's 80% renter share reinforces multifamily fundamentals, as elevated home values maintain rental reliance among area households.
Built in 1987, the property predates the neighborhood's average construction year of 1963, potentially offering value-add opportunities through targeted renovations and unit upgrades. The location provides strong amenity access, ranking in the 66th percentile nationally, with particularly dense grocery and pharmacy options that enhance tenant retention appeal.
The neighborhood's crime metrics show mixed trends that warrant monitoring in lease management decisions. While property crime rates rank in the lower quartile among the metro's 1,441 neighborhoods, recent data indicates a 44% year-over-year decline in property offenses. Violent crime rates also decreased 62% over the past year, suggesting improving conditions that could support tenant retention and leasing velocity.
Overall crime performance places the area near the metro median, requiring standard due diligence around security measures and tenant screening protocols. The improving trend trajectory provides a more favorable outlook for long-term stability compared to static crime environments.
The property benefits from proximity to major entertainment and corporate headquarters that anchor local employment demand, supporting workforce housing needs for area renters.
- Live Nation Entertainment — entertainment services (0.5 miles)
- Live Nation Entertainment — entertainment services (3.3 miles) — HQ
- Activision Blizzard Studios — gaming & technology (3.8 miles)
- Radio Disney — media & broadcasting (4.1 miles)
- Disney — entertainment & media (4.4 miles) — HQ
This 33-unit property leverages strong neighborhood fundamentals, including top-quartile NOI performance and an 83% renter-occupied housing base that sustains consistent tenant demand. The 1987 construction year provides value-add potential through strategic renovations, while the area's projected 35% household growth through 2028 supports long-term absorption and renewal rates.
Commercial real estate analysis indicates the neighborhood's improving safety trends and proximity to major entertainment employers create favorable leasing conditions. However, investors should monitor the area's below-average school ratings and elevated rent-to-income ratios when evaluating tenant retention strategies and renewal pricing.
- Top-quartile NOI performance nationally with 83% renter occupancy supporting demand
- 1987 vintage offers value-add renovation opportunities in appreciating market
- Projected 35% household growth through 2028 expands tenant pool
- Proximity to Disney, Live Nation, and entertainment industry employers
- Risk consideration: Below-average school ratings and elevated rent-to-income ratios require careful lease management