| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 81st | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1802 N Berendo St, Los Angeles, CA, 90027, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1988 |
| Units | 34 |
| Transaction Date | 1996-11-21 |
| Transaction Price | $1,850,000 |
| Buyer | BERENDO OWNER LLC |
| Seller | ARMSTRONG PROPERTIES LLC |
1802 N Berendo St Los Angeles Multifamily Investment
Renter demand is supported by a high renter-occupied housing base and deep neighborhood amenities, according to WDSuite’s CRE market data. Neighborhood occupancy has been steady, pointing to durable leasing conditions rather than outsized volatility.
This Urban Core location scores A+ overall and ranks 37th out of 1,441 Los Angeles metro neighborhoods, indicating competitive positioning within the metro. Amenity density is a clear strength — restaurants, groceries, pharmacies, parks, and childcare all sit in the top quartile nationally, helping sustain renter appeal and day-to-day convenience for residents.
The neighborhood skews strongly renter-oriented, with 76.6% of housing units renter-occupied. For investors, this indicates a deep tenant base and consistent multifamily demand rather than reliance on a thin pool of renters. Neighborhood occupancy is around the low-90% range, which supports ongoing leasing but still rewards attentive asset management and pricing discipline.
Home values in the area are elevated and in the highest national percentiles, and the value-to-income ratio is among the most stretched nationally. In practice, that high-cost ownership market tends to reinforce reliance on rental housing, supporting retention and pricing power for well-run multifamily assets.
Within a 3-mile radius, demographics point to a stable renter pool: recent years show slight population contraction alongside an increase in total households and a smaller average household size. Forward-looking estimates indicate modest population growth and a sizable increase in households, which typically expands the renter pool and supports occupancy stability. Median incomes have risen meaningfully while contract rents have trended upward, which is constructive for rent collections and renewal strategies when managed against affordability thresholds.
Vintage is a differentiator: the property’s 1988 construction is materially newer than the neighborhood’s older housing stock (average vintage mid-1940s). Newer vintage can enhance competitive position versus older comparables while still warranting selective modernization of building systems and common areas to meet current renter expectations.
Safety metrics compare favorably in context. The neighborhood’s crime profile sits above many Los Angeles peers (338th out of 1,441 metro neighborhoods) and trends as safer than average nationally (around the upper quartiles). Recent year-over-year declines in both property and violent offense estimates are among the strongest improvements nationally, suggesting momentum in the right direction. As always, investors should evaluate property-level security features and block-by-block conditions during due diligence.
The area benefits from proximity to major corporate offices that support a broad professional workforce and steady renter demand. Notable nearby employers include Live Nation Entertainment, Disney, Microsoft, Avery Dennison, and CBRE Group.
- Live Nation Entertainment — corporate offices (2.8 miles)
- Disney — corporate offices (4.1 miles) — HQ
- Microsoft — corporate offices (4.3 miles)
- Avery Dennison — corporate offices (4.3 miles) — HQ
- CBRE Group — corporate offices (4.3 miles) — HQ
Positioned in a top-ranked Los Angeles Urban Core neighborhood, 1802 N Berendo St benefits from a large renter-occupied housing base and strong amenity access that help sustain multifamily demand. According to commercial real estate analysis from WDSuite, neighborhood occupancy has held near the low-90% range while NOI per unit trends for the area are well above national norms — a constructive backdrop for stabilized operations with disciplined lease management.
Built in 1988, the asset is newer than much of the surrounding stock, which can offer a competitive edge versus older comparables. Within a 3-mile radius, household counts have been rising even as average household size declines, and forward estimates point to additional household growth — dynamics that typically expand the renter pool and support occupancy stability. Elevated ownership costs locally further reinforce reliance on rental housing, aiding retention and measured pricing power when balanced against affordability.
- High renter-occupied share supports a deep tenant base and consistent leasing
- Amenity-rich Urban Core location with top-tier metro ranking
- 1988 vintage offers competitive positioning vs. older neighborhood stock; targeted upgrades can unlock value
- Household growth within 3 miles and elevated ownership costs bolster rental demand and retention
- Risks: average-to-moderate neighborhood occupancy and exposure to cyclical sectors call for prudent underwriting and active asset management