| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 47th | Fair |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 171 S Normandie Ave, Los Angeles, CA, 90004, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1984 |
| Units | 48 |
| Transaction Date | 2003-07-30 |
| Transaction Price | $4,992,000 |
| Buyer | Sterling Family Trust |
| Seller | Stein s Normandie Property |
171 S Normandie Ave Los Angeles Multifamily Investment
This 48-unit property sits in an urban core neighborhood with 92.4% occupancy rates and 85% renter-occupied housing, according to CRE market data from WDSuite.
The property is located in an Urban Core neighborhood that ranks in the top quartile nationally for amenities, with exceptional access to retail and services. The area features nearly 10 grocery stores per square mile and over 50 restaurants per square mile, both ranking in the 99th percentile nationally among 1,441 metro neighborhoods. This high-density commercial environment supports tenant retention through walkable convenience.
Built in 1984, the property predates the neighborhood's 1955 average construction year, presenting potential value-add opportunities through strategic capital improvements. Neighborhood-level occupancy remains stable at 92.4%, while the area maintains an 85% renter-occupied housing share—ranking 25th among metro neighborhoods and in the 99th percentile nationally. Demographics within a 3-mile radius show 87% of housing units are renter-occupied, with projected household growth of 29% by 2028, expanding the potential tenant base.
Median contract rents in the neighborhood reached $1,546, positioning above the 80th percentile nationally. Home values averaging $989,432 reinforce rental demand by maintaining elevated ownership costs that sustain renter reliance on multifamily housing. The rent-to-income ratio suggests affordability pressure that requires careful lease management, though the large renter pool provides depth for tenant replacement.
Schools in the area average 3.0 out of 5 ratings, ranking above metro median among neighborhoods. The combination of urban amenities, stable occupancy trends, and strong renter demographics creates a foundation for consistent leasing activity, though investors should monitor affordability dynamics and renewal rates given income-to-rent relationships.
The neighborhood demonstrates improving safety trends with property crime rates declining 81% year-over-year and violent crime dropping 93% over the same period. Both metrics rank in the 98th and 99th percentiles nationally for improvement, indicating positive momentum in public safety conditions.
Current crime levels position the area competitively among Los Angeles metro neighborhoods, with property offense rates ranking 504th out of 1,441 neighborhoods and violent crime rates at the 50th percentile nationally. While urban core locations typically experience higher baseline activity, the significant recent improvements suggest strengthening fundamentals that can support tenant retention and leasing stability.
The property benefits from proximity to major corporate headquarters and offices that anchor employment demand in the greater Los Angeles market.
- CBRE Group — commercial real estate services (3.0 miles) — HQ
- Microsoft — technology offices (3.1 miles)
- Reliance Steel & Aluminum — industrial materials (3.1 miles) — HQ
- Live Nation Entertainment — entertainment services (3.2 miles)
- Disney — media and entertainment (6.0 miles) — HQ
This 48-unit property built in 1984 presents value-add potential through strategic renovations while operating in a neighborhood with 92.4% occupancy and 85% renter-occupied housing. The urban core location provides exceptional amenity access that supports tenant retention, with grocery stores and restaurants ranking in the 99th percentile nationally for density. Household growth projections of 29% within a 3-mile radius by 2028 indicate expanding rental demand, though elevated rent-to-income ratios require careful lease management and renewal strategies.
Recent safety improvements, including 81% declines in property crime and 93% reductions in violent crime, demonstrate positive neighborhood momentum. The property's 1984 vintage offers renovation upside compared to the area's 1955 average construction year, while proximity to major employers like CBRE Group, Microsoft, and Disney provides employment stability within commuting distance. Multifamily property research indicates strong fundamentals, though investors should monitor affordability pressures and plan for potential capital improvements.
- Stable 92.4% neighborhood occupancy with 85% renter-occupied housing supporting consistent demand
- Value-add opportunity through renovations given 1984 construction versus 1955 neighborhood average
- Exceptional walkable amenities ranking 99th percentile nationally for retail and dining density
- Projected 29% household growth within 3 miles by 2028 expanding potential tenant base
- Risk consideration: Elevated rent-to-income ratios requiring active lease management and renewal focus