| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 28th | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1414 S Gramercy Pl, Los Angeles, CA, 90019, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1986 |
| Units | 38 |
| Transaction Date | 2001-12-03 |
| Transaction Price | $2,650,000 |
| Buyer | CATWOOD APARTMENTS LLC |
| Seller | R & S BABAY I LLC |
1414 S Gramercy Pl, Los Angeles Multifamily Opportunity
Renter demand is supported by a high-cost ownership landscape and strong neighborhood amenities, according to CRE market data from WDSuite. For investors, the key consideration is durable renter depth with operational focus on income-to-rent management and positioning within Los Angeles–Long Beach–Glendale fundamentals.
The property sits in Los Angeles–Long Beach–Glendale’s Urban Core, where amenity access is a differentiator. The neighborhood’s amenity profile ranks 253 out of 1,441 metro neighborhoods (top quartile among 1,441), and cafe and grocery density both sit in the 98th percentile nationally. This level of daily-needs and food-and-beverage access supports leasing appeal and reduces friction for residents.
The area’s housing stock trends older on average, while this asset was built in 1986. That vintage positions the property as newer than much of the surrounding inventory, offering relative competitiveness versus prewar buildings while still leaving room for targeted modernization to drive rent positioning and resident retention.
Renter-occupied housing is prevalent both in the immediate neighborhood and within a 3-mile radius, indicating a deep tenant base for multifamily. Neighborhood occupancy is around the national mid-range, so asset-level performance will hinge on execution: unit quality, management, and amenities that resonate with local renters. Median home values are elevated for the neighborhood relative to national benchmarks, which tends to sustain reliance on rental options and can support pricing power when operations are well-calibrated.
Trade-offs to underwrite include very limited park access locally and below-average school ratings for the neighborhood compared with national peers. These factors may shape the target renter profile more toward adult households and renters prioritizing commute efficiency and amenity access. Even so, the broader demographic mix within 3 miles remains sizable, providing a stable pool of prospective residents.
According to WDSuite’s data, overall crime conditions in the neighborhood test better than the national average (around the 73rd percentile for safety), while violent-offense indicators are closer to the national middle (around the 39th percentile). Recent trend data shows notable year-over-year improvements in both violent and property offenses, placing the neighborhood among the stronger improvers nationally.
Investors should frame these signals comparatively rather than block-by-block: safety outcomes are improving on trend, yet remain mixed by category. Prudent measures—lighting, access control, and resident engagement—can help support leasing and retention.
Nearby corporate offices create a diversified employment base that supports renter demand and retention through short commutes. Key nodes within a few miles include CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and Activision Blizzard Studios.
- CBRE Group — real estate services (3.4 miles) — HQ
- Microsoft — technology offices (3.5 miles)
- Reliance Steel & Aluminum — metals & distribution (3.6 miles) — HQ
- Live Nation Entertainment — entertainment & media offices (4.2 miles)
- Activision Blizzard Studios — entertainment & gaming studios (5.2 miles)
This 38-unit asset, built in 1986, competes favorably against older neighborhood stock while offering value-add upside through targeted modernization of interiors and building systems. Within a 3-mile radius, households have grown even as population edged lower, implying smaller household sizes and a broader renter pool—conditions that can support occupancy stability and steady leasing when operations are tight. Elevated neighborhood home values indicate a high-cost ownership market, which typically sustains multifamily demand and can bolster pricing power when paired with the right finish level and management.
According to CRE market data from WDSuite, the neighborhood’s amenity access is strong by national standards and renter-occupied share is high, both of which reinforce demand depth. The investment case centers on positioning a relatively newer vintage property to capture renters seeking convenience and quality within Los Angeles–Long Beach–Glendale, while actively managing affordability pressure and mixed school ratings.
- 1986 vintage is newer than much of the area’s stock, with room for renovations to lift NOI
- Strong amenity access (cafes/groceries high nationally) supports leasing appeal
- High-cost ownership market reinforces reliance on rentals and can aid pricing power
- Within 3 miles, household growth and smaller sizes expand the renter pool
- Risks: affordability pressure, limited parks, and below-average school ratings require thoughtful positioning