| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 83rd | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1321 N Las Palmas Ave, Los Angeles, CA, 90028, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1988 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1321 N Las Palmas Ave Los Angeles Multifamily Investment
In an amenity-rich Hollywood core with deep renter demand, the asset offers durable leasing fundamentals; according to WDSuite’s CRE market data, neighborhood income performance and NOI per unit trends are among the stronger readings in the metro.
Situated in Los Angeles’s Urban Core, the neighborhood rates A+ and ranks 38th among 1,441 metro neighborhoods, placing it firmly in the top quartile locally. Amenity access is a clear strength: restaurants, groceries, pharmacies, parks, and cafés score in the top quartile nationally, reinforcing daily convenience and supporting tenant retention.
Renter-occupied housing accounts for the large majority of units in the area, signaling a deep tenant base and steady turnover for multifamily owners. Median home values sit in very high national percentiles, indicating a high-cost ownership market that tends to sustain multifamily demand and support pricing power. At the same time, rent-to-income ratios are elevated for the neighborhood, which warrants attentive lease management to balance occupancy and renewal growth.
Within a 3-mile radius, demographics show a sizable working-age cohort and rising incomes over recent periods, with forecasts pointing to household growth and smaller average household sizes over the next five years—both consistent with a larger renter pool and diversified unit demand. According to WDSuite’s multifamily property research, the neighborhood’s NOI per unit performance ranks in top national percentiles, reflecting strong location fundamentals, while current neighborhood occupancy trends sit closer to national mid-range, suggesting competitive positioning rather than outsized vacancy tightness.
Built in 1988—newer than the neighborhood’s average stock—the property should remain relatively competitive against older buildings while investors plan for system updates typical of late-1980s construction. Schools in the broader area register modestly above the national midpoint, which, while not a primary driver in this submarket, can aid broader household appeal.
Neighborhood safety indicators are competitive relative to the Los Angeles-Long Beach-Glendale metro, sitting above the metro median (ranked 550 among 1,441 neighborhoods) and around the upper half nationally. According to WDSuite data, both violent and property offense rates have shown notable year-over-year improvement, placing recent trend changes in high national percentiles. For investors, this supports a narrative of stability with improving conditions, while still managing block-level variability typical of dense urban cores.
Proximity to entertainment and professional services employers supports leasing from creatives and office workers seeking short commutes. The following nearby employers underpin local renter demand and retention dynamics.
- Live Nation Entertainment — entertainment (0.6 miles)
- Radio Disney — media & entertainment (4.0 miles)
- Activision Blizzard Studios — gaming & entertainment (4.1 miles)
- Disney — media & entertainment (4.3 miles) — HQ
- AECOM — engineering & infrastructure (5.2 miles) — HQ
This 56-unit, late-1980s vintage asset sits in a top-quartile Los Angeles neighborhood with exceptional amenity density, high renter concentration, and strong income characteristics. Elevated ownership costs in the area reinforce reliance on rental housing, while a projected increase in households within a 3-mile radius points to a larger tenant base over the next five years. According to WDSuite’s commercial real estate analysis, neighborhood NOI per unit is in high national percentiles, highlighting favorable revenue potential even as occupancy trends remain closer to national mid-range.
Vintage 1988 positioning offers competitive footing versus older stock, with practical upside through targeted refreshes and system updates common for this era. Investors should also account for affordability pressure reflected in higher rent-to-income ratios and the submarket’s exposure to entertainment-oriented employment cycles, balancing pricing power with renewal stability.
- Top-quartile neighborhood in the LA metro with exceptional amenity access and deep renter demand
- High-cost ownership market supports rental dependence and pricing power
- 1988 vintage offers competitive positioning versus older stock with targeted value-add potential
- Forecast household growth within 3 miles indicates a larger tenant base and leasing durability
- Risks: elevated rent-to-income ratios and cyclical exposure to entertainment employment warrant careful lease and expense management