| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 83rd | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1353 N Martel Ave, Los Angeles, CA, 90046, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1988 |
| Units | 87 |
| Transaction Date | 1995-06-07 |
| Transaction Price | $5,100,000 |
| Buyer | PRINCE CONFETTI PROPERTY LLC |
| Seller | BERKELEY FEDERAL BANK & TRUST FSB |
1353 N Martel Ave Los Angeles Multifamily Investment
Renter-occupied housing is concentrated in this urban core location, supporting a deep tenant base even as leasing conditions shift, according to WDSuite's CRE market data. High-cost homeownership and strong amenity access help sustain demand across cycles.
Positioned in Los Angeles’s Urban Core near West Hollywood/Hollywood, the neighborhood ranks 38 out of 1,441 metro neighborhoods—competitive among Los Angeles-Long Beach-Glendale submarkets (A+ neighborhood rating). Amenity access is a standout: restaurants, groceries, cafes, parks, and pharmacies are in the upper national percentiles, placing daily conveniences firmly in the top quartile nationally.
For multifamily investors, the depth of renter demand is notable. Roughly 77% of neighborhood housing units are renter-occupied (very high nationally), which supports a broad tenant pool and renewal prospects. Median contract rents benchmark well above national norms (92nd percentile), reflecting location value and the area’s lifestyle appeal. Elevated home values (98th percentile) indicate a high-cost ownership market that often reinforces multifamily reliance and supports pricing power for well-positioned assets.
Operationally, occupancy for the neighborhood trails the national median by percentile and has softened over five years, pointing to the need for active leasing and renewal strategies. School ratings average around 3.0 out of 5 (above the national median), a neutral-to-modest contributor to demand in a primarily lifestyle- and employment-driven renter market.
Demographic indicators aggregated within a 3-mile radius show smaller average household sizes and an affluent renter cohort. While the recent period showed modest population softness, forecasts point to household growth and an expanding renter base—supportive of occupancy stability and rent management over time, based on CRE market data from WDSuite.
Safety levels are comparatively better than many urban neighborhoods nationwide by percentile, and recent estimates indicate meaningful year-over-year declines in both violent and property offenses—placing the area among stronger improvers nationally. Within the Los Angeles-Long Beach-Glendale metro, a crime rank of 550 out of 1,441 suggests performance that is competitive among urban Los Angeles neighborhoods, with recent momentum trending favorably.
Access to nearby entertainment, media, and engineering employers supports workforce housing demand and lease retention through commute convenience. Notable nearby employers include Live Nation, Activision Blizzard Studios, Disney, and AECOM.
- Live Nation Entertainment — entertainment (0.5 miles)
- Live Nation Entertainment — entertainment (3.1 miles) — HQ
- Activision Blizzard Studios — media & gaming (3.4 miles)
- Disney — media & entertainment (4.5 miles) — HQ
- AECOM — engineering & infrastructure (4.6 miles) — HQ
Built in 1988, the 87-unit asset with roughly 852 sq. ft. average unit sizes is newer than the neighborhood’s mid-century vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization to support rent positioning. The location’s strong amenity access, elevated home values, and high renter concentration underpin durable demand, while neighborhood occupancy sits below the national median by percentile—requiring disciplined leasing and renewal execution. According to CRE market data from WDSuite, neighborhood income and rent benchmarks sit well above national norms, supporting pricing power for quality product as household growth is projected within a 3-mile radius.
Investor attention should focus on balancing premium location fundamentals with affordability pressures (rent-to-income levels are elevated by percentile) and maintaining occupancy through active management. The asset’s relative vintage and unit sizes provide a practical platform for value-add scopes that enhance retention and capture lifestyle-driven demand.
- Newer 1988 vintage vs. local average supports competitive positioning with selective modernization potential
- High renter concentration and elevated home values reinforce multifamily demand depth
- Top-tier amenity access (food, retail, services) enhances leasing velocity and retention
- Below-median neighborhood occupancy by percentile calls for hands-on leasing and renewal management
- Affordability pressure (higher rent-to-income by percentile) warrants careful pricing and retention strategy