| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 18th | Poor |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1302 E 41st St, Los Angeles, CA, 90011, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 1999-01-07 |
| Transaction Price | $350,000 |
| Buyer | GWEN BOLDEN MANOR LP |
| Seller | CONCERNED CITIZENS OF SOUTH CENTRAL LOS |
1302 E 41st St Los Angeles Multifamily Investment
This 24-unit property built in 1999 sits in a neighborhood with 96.4% occupancy rates and strong rental demand, supported by 81.3% renter-occupied housing according to CRE market data from WDSuite.
The property is located in an urban core neighborhood with strong rental fundamentals, ranking in the 79th percentile nationally for occupancy rates at 96.4%. With 81.3% of housing units renter-occupied within a 3-mile radius, the area demonstrates sustained rental demand that supports multifamily investments.
Built in 1999, this property is newer than the neighborhood average construction year of 1942, positioning it competitively for reduced near-term capital expenditure needs. The neighborhood ranks in the 74th percentile nationally for housing metrics, indicating solid fundamentals relative to comparable markets nationwide.
Demographics within the 3-mile radius show a population of 347,050 with household growth of 10.4% over five years, expanding the potential tenant base. Median household income of $54,880 has grown 50.1% over five years, while contract rents increased 31.8% to $1,330, indicating pricing power in the market. Forecasted data suggests continued household formation with a 34.8% increase projected through 2028.
The area offers strong amenity access with 8.32 grocery stores per square mile (99th percentile nationally) and 16.64 restaurants per square mile (95th percentile nationally), supporting tenant retention. However, childcare availability ranks lower at 2.38 facilities per square mile, and the neighborhood shows limited park access, which investors should consider for family-oriented units.
The neighborhood demonstrates improving safety trends with property crime rates declining 71.4% year-over-year and violent crime dropping 90.0%. Current property offense rates of 180.1 per 100,000 residents rank in the 57th percentile nationally, indicating moderate safety levels compared to neighborhoods nationwide.
The area ranks 387th among 1,441 metro neighborhoods for overall crime metrics, placing it in the top quartile for safety within the Los Angeles metro. These improving trends and competitive regional rankings support tenant retention and property values over time.
The property benefits from proximity to major corporate employers within the greater Los Angeles area, providing workforce housing opportunities for professionals in real estate, technology, and entertainment sectors.
- CBRE Group — commercial real estate services (2.9 miles) — HQ
- Reliance Steel & Aluminum — metals and manufacturing (2.9 miles) — HQ
- Microsoft — technology offices (3.0 miles)
- Symantec — cybersecurity technology (8.0 miles)
- Live Nation Entertainment — entertainment and events (8.3 miles)
This 24-unit property offers stable cash flow potential in a neighborhood with 96.4% occupancy rates and strong rental demand fundamentals. Built in 1999, the property requires less immediate capital investment than the area's average 1942 vintage, while benefiting from 81.3% renter-occupied housing within the 3-mile radius. Household growth of 10.4% over five years and projected 34.8% increase through 2028 supports expanding tenant demand.
According to multifamily property research from WDSuite, the neighborhood ranks in the 74th percentile nationally for housing metrics and demonstrates pricing power with 31.8% rent growth over five years. The area's strong amenity density, including top-percentile grocery and restaurant access, supports tenant retention in this urban core location.
- High occupancy environment with 96.4% neighborhood rates supporting stable cash flow
- Newer 1999 construction reduces near-term capital expenditure needs
- Growing household base with 34.8% projected increase through 2028
- Strong amenity access supports tenant retention and competitive positioning
- Risk: Lower school ratings and limited park access may affect family tenant appeal