| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 60th | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1616 N Serrano Ave, Los Angeles, CA, 90027, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1990 |
| Units | 27 |
| Transaction Date | 2014-03-20 |
| Transaction Price | $4,912,049 |
| Buyer | SERRANO 1 LP |
| Seller | KHURI ENTERPRISE 1616 SERRANO LLC |
1616 N Serrano Ave, Los Angeles CA Multifamily Investment
High renter concentration and a high-cost ownership market point to durable renter demand in this Urban Core location, according to WDSuite’s CRE market data.
This Los Angeles Urban Core neighborhood carries an A rating and ranks 186 out of 1,441 metro neighborhoods — a top quartile position that signals competitive fundamentals within the Los Angeles-Long Beach-Glendale region. Amenity access is a standout: restaurant, grocery, and pharmacy density sit in the 99th percentile nationally, supporting renter convenience and day-to-day livability that can aid retention.
Renter concentration is high in the immediate area, with roughly four-fifths of housing units renter-occupied within a 3-mile radius, indicating a deep tenant base for multifamily operators. Neighborhood occupancy has trended down over the past five years and sits below metro norms, so leasing strategy and renewal management remain important to stabilize cash flow.
Home values in the neighborhood are elevated (near the 99th national percentile), creating a high-cost ownership market that tends to sustain demand for rental housing and can support pricing power where product quality and location justify it. Median contract rents have risen over the past five years, while the rent-to-income ratio near 0.30 suggests some affordability pressure to monitor for lease management and renewal pacing.
Within a 3-mile radius, households have grown modestly over the past five years and are projected to expand further alongside smaller average household sizes, which can translate to a larger renter pool and support occupancy stability. Average school ratings trail national averages, which may matter for family-oriented unit mixes, but proximity to jobs and amenities strengthens the appeal for workforce and young professional renter segments.
Safety indicators are comparatively favorable versus national benchmarks: the neighborhood sits around the 76th percentile nationally for overall safety, and violent offense measures are in the 62nd percentile nationwide, according to WDSuite. Within the Los Angeles-Long Beach-Glendale metro, the area ranks 369 out of 1,441 neighborhoods, placing it above the metro median and competitive among Los Angeles neighborhoods.
Year-over-year trends show notable improvement, with both violent and property offense rates declining materially in recent data. As always, investors should underwrite with submarket-level comps and recent police blotter trends rather than block-by-block assumptions.
Nearby employment anchors span entertainment, technology, and corporate services — a base that supports renter demand through commute convenience and diversified job exposure. Notable employers include Live Nation, Disney, Radio Disney, Microsoft, and CBRE Group.
- Live Nation Entertainment — entertainment (2.1 miles)
- Disney — media & entertainment (4.0 miles) — HQ
- Radio Disney — media (4.1 miles)
- Microsoft — technology offices (4.5 miles)
- CBRE Group — commercial real estate services (4.6 miles) — HQ
The 27-unit property at 1616 N Serrano Ave was built in 1990, making it newer than much of the surrounding housing stock. That positioning can enhance competitive standing versus older inventory while still leaving room for targeted modernization to drive rent premiums and reduce near-term capital surprises. According to commercial real estate analysis from WDSuite, the neighborhood is top quartile in the metro with strong amenity access, high renter concentration, and per-unit NOI performance that trends favorably against national peers.
Demand drivers include a high-cost ownership market that sustains reliance on rentals, deep employment nearby across entertainment and tech, and household growth within a 3-mile radius that points to renter pool expansion. Counterbalancing factors include below-metro occupancy and a rent-to-income profile that warrants disciplined lease management and thoughtful unit positioning to support retention.
- Newer 1990 vintage relative to area stock, with potential to capture premiums via selective upgrades
- Amenity-rich Urban Core location supports renter appeal and retention
- High-cost ownership market reinforces depth of rental demand and pricing power where warranted
- Proximity to diversified employment nodes underpins leasing stability
- Risk: neighborhood occupancy below metro norms and affordability pressure require focused leasing and renewal strategy