| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 94th | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2041 N Commonwealth Ave, Los Angeles, CA, 90027, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1973 |
| Units | 42 |
| Transaction Date | 2015-05-12 |
| Transaction Price | $11,150,000 |
| Buyer | Commonwealth, LLC |
| Seller | G F Silverlake LP, Private Investor, Pioneer Industries, Inc. (Frank Chen), PriceCash Equivalent Price/sf |
2041 N Commonwealth Ave Urban-Core Multifamily Investment
Positioned in an A+ Los Angeles neighborhood, the area shows solid occupancy and a high renter-occupied share at the neighborhood level, supporting durable demand according to WDSuite’s CRE market data. Strong amenity access and income fundamentals suggest steady leasing dynamics for a 42-unit asset.
This Urban Core location benefits from deep renter demand drivers and lifestyle convenience. Neighborhood amenity access is competitive among 1,441 Los Angeles-Long Beach-Glendale neighborhoods (amenity rank 178 of 1,441), with dining density near the 99th percentile nationally and cafés at the top end of U.S. neighborhoods. Pharmacies and grocery options also score high nationally, reinforcing day-to-day convenience that supports retention.
At the neighborhood level, occupancy has held in a healthy range and the renter-occupied share is elevated, indicating a broad tenant base for multifamily operators. Median contract rents are high for the metro and have trended upward over the past five years, while rent-to-income metrics remain manageable, giving room for disciplined revenue management rather than aggressive pushes. Elevated home values (near the top of U.S. neighborhoods) signal a high-cost ownership market, which typically sustains reliance on rental housing and can bolster lease stability.
The 1973 vintage is newer than the area’s average construction year of 1960, offering relative competitiveness versus older local stock. Investors should still plan for ongoing systems updates and selective renovations to maintain positioning against newer deliveries.
Demographic statistics aggregated within a 3-mile radius show households have been edging higher and are projected to increase meaningfully over the next five years, even as population growth stays flat to slightly negative. This points to smaller household sizes and a larger tenant pool for rental units, a setup that can support occupancy stability and steady leasing according to CRE market data from WDSuite.
Safety indicators are improving on a year-over-year basis at the neighborhood level, with estimated violent and property offense rates trending down. Overall crime ranks 433 out of 1,441 metro neighborhoods, placing the area above the metro median and in the safer half compared with neighborhoods nationwide.
Nationally, the neighborhood compares favorably on several measures (violent offense levels are better than average), while property offenses sit closer to the middle of the pack. For investors, the recent downward trend is a constructive sign for tenant retention and asset perception, while ongoing monitoring remains prudent.
Nearby corporate offices create a strong white-collar employment base and commute convenience that can support leasing and retention. The immediate area draws talent tied to media, technology, and professional services, including Live Nation, Avery Dennison, Disney, Microsoft, and CBRE Group.
- Live Nation Entertainment — corporate offices (3.4 miles)
- Avery Dennison — corporate offices (3.7 miles) — HQ
- Disney — corporate offices (4.0 miles) — HQ
- Microsoft — corporate offices (4.3 miles)
- CBRE Group — corporate offices (4.4 miles) — HQ
2041 N Commonwealth Ave offers exposure to a high-performing Los Angeles neighborhood where renter-occupied housing is prevalent, amenity access is nationally strong, and neighborhood NOI per unit outperforms most U.S. areas. Elevated ownership costs in the immediate neighborhood reinforce reliance on multifamily rentals, supporting pricing power and lease retention. According to commercial real estate analysis from WDSuite, occupancy at the neighborhood level is healthy and rent-to-income dynamics suggest measured room for revenue optimization rather than overreach.
The 1973 construction is newer than the area’s average vintage, providing relative competitiveness versus older stock while leaving scope for targeted capital projects to refresh systems and finishes. Within a 3-mile radius, household counts are set to rise even if population stays roughly flat, indicating smaller household sizes and a broader renter pool—both supportive of multifamily demand and occupancy stability.
- Amenity-rich Urban Core location with dining and café density near the top nationally, aiding retention and rentability.
- High-cost ownership environment sustains multifamily reliance, supporting steady leasing and pricing power.
- Neighborhood occupancy healthy with elevated renter concentration, indicating depth of tenant demand.
- 1973 vintage is competitive versus older local stock, with value-add potential through selective modernization.
- Risks: household growth may stem from smaller household sizes as population flattens, and safety improvements warrant continued monitoring.