| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 56th | Good |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 143 S Berendo St, Los Angeles, CA, 90004, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1974 |
| Units | 40 |
| Transaction Date | 2015-03-27 |
| Transaction Price | $8,750,000 |
| Buyer | STERLING ROCHELLE H |
| Seller | BERENDO PROFESSIONAL ASSOCIATES LTD |
143 S Berendo St Los Angeles 40-Unit Multifamily Investment
Positioned in an Urban Core pocket with dense amenities and deep renter demand, the asset offers stable neighborhood occupancy alongside potential value-add from a 1974 vintage, according to WDSuite’s CRE market data. Strong local foot-traffic drivers and a high renter-occupied housing share in the neighborhood point to a durable tenant base.
The property sits within an Urban Core neighborhood rated A- and ranked 283 out of 1,441 Los Angeles metro neighborhoods, placing it in the top quartile nationally for overall neighborhood quality. Amenity density is a clear strength: neighborhood counts for restaurants, cafes, groceries, childcare, and pharmacies score at or near the highest national percentiles, supporting day-to-day convenience that tends to aid retention and leasing velocity.
Neighborhood occupancy is roughly in line with national norms, and the share of housing units that are renter-occupied is very high, indicating a broad tenant base and steady multifamily demand. Median home values in the neighborhood are elevated versus national benchmarks, which typically sustains reliance on rental options and can support pricing power for well-managed assets. At the same time, rent-to-income levels suggest some affordability pressure, which calls for disciplined lease management and renewal strategies.
Within a 3-mile radius, demographics show a modest population contraction over the last five years but an increase in households, pointing to smaller household sizes and a potentially expanding renter pool. WDSuite’s commercial real estate analysis indicates median household incomes in the radius have risen, and forward-looking projections call for additional household growth and rising incomes, which can underpin absorption even if population trends are flat to slightly negative.
The asset’s 1974 construction slightly predates the neighborhood’s average vintage (mid-1970s). For investors, this suggests planning for targeted capital expenditures and modernization, with potential to capture value-add upside against a backdrop of strong amenity access and a deep renter market.
Safety indicators for the neighborhood compare favorably versus many areas nationwide, with overall crime levels around the 73rd national percentile. Recent trend data shows notable year-over-year improvement in both violent and property offense estimates, according to CRE market data from WDSuite.
Within the Los Angeles metro context (1,441 neighborhoods), the area performs above the metro median on several safety trend measures. While investors should continue to underwrite standard urban-core operating considerations, the improvement trajectory and comparative standing suggest manageable risk relative to similar dense, amenity-rich neighborhoods.
Nearby corporate offices support a sizable commuter workforce, reinforcing renter demand and lease retention for workforce and professional tenants. Key employers within a short drive include CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and Activision Blizzard Studios.
- CBRE Group — real estate services (2.7 miles) — HQ
- Microsoft — technology (2.7 miles)
- Reliance Steel & Aluminum — metals & distribution (2.8 miles) — HQ
- Live Nation Entertainment — entertainment (3.5 miles)
- Activision Blizzard Studios — media & gaming (6.1 miles)
This 40-unit asset combines dense, walkable amenities with a deep renter base and metro-level connectivity. Neighborhood performance ranks among the top quartile of Los Angeles neighborhoods, and occupancy trends are steady, supported by a very high share of renter-occupied housing units. Elevated neighborhood home values point to a high-cost ownership market that typically sustains rental demand and supports pricing power for competitive product. Based on CRE market data from WDSuite, household growth within a 3-mile radius and rising incomes help offset modest population contraction, supporting leasing durability.
Built in 1974, the property is slightly older than the neighborhood average, which signals the need for targeted capital planning but also creates an avenue for value-add improvements. With strong amenity proximity and nearby employment nodes, a focused renovation and operations plan can position the asset competitively versus older stock while managing affordability pressures through thoughtful lease and renewal strategies.
- Deep renter-occupied housing share sustains tenant demand and supports occupancy stability
- Elevated neighborhood home values reinforce reliance on rental housing and pricing power
- Amenity-rich Urban Core location near major employers aids retention and leasing velocity
- 1974 vintage offers value-add potential with targeted modernization and capital planning
- Risk: affordability pressure in the neighborhood warrants conservative underwriting and renewal management