| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 83rd | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1602 Ivar Ave, Los Angeles, CA, 90028, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2006 |
| Units | 104 |
| Transaction Date | 2005-07-12 |
| Transaction Price | $4,700,000 |
| Buyer | THE COMMUNITY REDEVELOPMENT AGENCY OF TH |
| Seller | CITY OF LOS ANGELES |
1602 Ivar Ave Los Angeles Multifamily Opportunity
Positioned in an urban core with exceptional amenity access and a deep renter base, this 2006 asset offers competitive positioning versus older neighborhood stock; according to WDSuite’s CRE market data, neighborhood occupancy trails metro norms, but elevated ownership costs support steady renter reliance.
Livability is a clear strength for this Urban Core location. Restaurants and cafes are dense compared with most U.S. neighborhoods (restaurants near the 100th percentile and cafes near the 99th percentile nationally), and grocery and park access also test in high national percentiles. In the Los Angeles-Long Beach-Glendale metro, the neighborhood ranks 179th of 1,441 for overall amenities, positioning it as competitive for convenience-driven renters.
The property’s 2006 vintage is newer than the neighborhood’s average construction year (1956). That relative youth can reduce near-term capital needs versus older peers while allowing targeted modernization to sharpen competitive positioning and support rent achievement.
Tenure patterns favor multifamily demand: renter-occupied housing accounts for a high share of local units, placing the neighborhood in the upper tier nationally for renter concentration. In context with a high-cost ownership market (home values near the top percentile nationwide), this dynamic typically sustains a larger tenant base and supports lease retention.
Within a 3-mile radius, demographics show a modest population pullback in the prior period but expanding households and smaller average household size, pointing to a broader renter pool over time. Forecasts indicate population and household growth through 2028, which should expand the addressable renter base and help stabilize occupancy as new supply is absorbed. Median incomes have been trending upward locally, supporting rentability, though the rent-to-income profile suggests some affordability pressure that will require disciplined lease management.
Operationally, neighborhood occupancy is below metro norms at present and has softened over the past five years. For investors, that implies the need for proactive leasing, pricing, and amenity activation; however, strong amenity fundamentals and a deep renter base create a path to durable demand as conditions normalize, based on commercial real estate analysis from WDSuite.
Safety indicators are mixed but improving. The neighborhood’s overall crime profile sits modestly better than the U.S. average (around the 62nd percentile for safety nationally), which is competitive among Los Angeles neighborhoods. Property crime levels benchmark weaker (around the 20th percentile nationally), while violent incidents benchmark below average (about the 31st percentile).
Trend-wise, recent year-over-year changes show notable improvement, with double-digit declines in both property and violent offense estimates. Within the region, that directional movement places the area above metro average for improvement, suggesting risk conditions have been easing rather than worsening. Comparisons reference ranks among 1,441 metro neighborhoods and national percentiles across neighborhoods nationwide.
Nearby employers in entertainment and media provide a sizable professional workforce and short commutes that can support renter demand and leasing stability. The list below focuses on close-in anchors that align with the tenant base implied by the submarket.
- Live Nation Entertainment — entertainment (0.9 miles)
- Radio Disney — media (3.7 miles)
- Disney — media & entertainment (3.9 miles) — HQ
- Live Nation Entertainment — entertainment (4.4 miles) — HQ
- Activision Blizzard Studios — gaming & media (4.7 miles)
1602 Ivar Ave combines a central, amenity-rich location with a renter-heavy neighborhood and ownership costs that encourage long-term reliance on multifamily housing. The 2006 vintage is competitive versus older local stock, offering potential to capture demand through selective modernization and professional operations. According to CRE market data from WDSuite, neighborhood occupancy benchmarks below metro norms today, but strong amenity density and a deep tenant base position assets to maintain leasing velocity as household growth resumes.
Investor considerations center on converting location advantages into stabilized performance: high national percentiles for restaurants, cafes, and daily needs support pricing power when paired with effective asset management, while rent-to-income dynamics suggest careful underwriting for renewals and concessions. Forecast household growth within 3 miles and sustained renter concentration should support demand depth through the cycle.
- 2006 vintage offers competitive positioning versus older neighborhood stock with targeted value-add potential
- Amenity-rich Urban Core location (top national percentiles for dining and daily needs) supports tenant retention
- High renter concentration and elevated ownership costs reinforce depth of the multifamily tenant base
- Forecast household growth within 3 miles expands the renter pool and supports lease-up over time
- Risk: neighborhood occupancy currently below metro norms and affordability pressure requires disciplined lease management