| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 40th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 206 Union Pl, Los Angeles, CA, 90026, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1991 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
206 Union Pl Los Angeles 20-Unit Multifamily Opportunity
High renter concentration and a high-cost ownership market support durable renter demand in this Urban Core location, according to WDSuite’s CRE market data. Neighborhood occupancy has held in the low-90% range, indicating generally steady tenant absorption at the neighborhood level rather than the property.
Located in Los Angeles’s Urban Core, the surrounding neighborhood carries an A- rating and ranks 306 out of 1,441 metro neighborhoods, placing it in the top quartile among Los Angeles-Long Beach-Glendale sub-markets. Amenity access is a clear strength, with restaurants, groceries, parks, and pharmacies scoring in the high-90s nationally by percentile, and the area is among the highest-ranked in the metro (ranked 18 of 1,441) for overall amenities—an advantage for leasing velocity and resident retention.
The housing stock skews renter-occupied at the neighborhood level, with a renter concentration near the top of national comparisons (99th percentile). For multifamily owners, that depth of renter households typically translates into a broad tenant base and less dependence on in-migration to maintain occupancy.
Within a 3-mile radius, households have increased over the past five years and are projected to expand further even as average household size trends smaller. This points to a larger tenant base and more renters entering the market over time, which can support occupancy stability and unit absorption. Median household income has risen meaningfully and is projected to continue rising, which supports rent collections and renewals as the renter pool matures.
Ownership remains a high-cost proposition in this neighborhood (home values test near the upper end nationally), which reinforces reliance on rental housing and can underpin pricing power for well-positioned assets. Neighborhood occupancy has been steady around the low-90% range over recent years; while not a peak reading, it suggests a stable leasing backdrop relative to many urban submarkets. School ratings in the area trend below the national midpoint, which can moderate family-driven demand but typically has a limited impact on workforce-oriented buildings.
The property’s 1991 vintage is newer than the neighborhood’s mid-20th-century average. That positioning can be competitive versus older stock; investors should still underwrite routine modernization of common areas and building systems to sustain rent performance against renovated comparables.
Safety indicators are mixed but improving. Overall crime compares favorably to many parts of the metro, competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 564 of 1,441), and sits around the 65th percentile nationally. Violent offense levels benchmark lower nationally (around the 28th percentile), signaling that vigilance and property-level security practices remain relevant for renter expectations.
Year-over-year trends are a bright spot: both violent and property offense estimates show substantial declines, placing the neighborhood among the stronger national improvers (upper-90s percentiles for improvement). For investors, this directional momentum can support leasing narratives and resident retention when paired with on-site safety measures and good lighting/visibility.
Proximity to major employers anchors renter demand with short commutes to corporate offices across technology, real estate services, manufacturing, and media. Nearby employment centers include CBRE Group, Microsoft, Reliance Steel & Aluminum, Avery Dennison, and Disney.
- CBRE Group — real estate services (0.98 miles) — HQ
- Microsoft — software (0.98 miles)
- Reliance Steel & Aluminum — metals & distribution (1.07 miles) — HQ
- Avery Dennison — materials & labeling (6.60 miles) — HQ
- Disney — media & entertainment (7.40 miles) — HQ
This 20-unit, 1991-vintage asset benefits from an Urban Core location with exceptional amenity access and a deep renter pool. At the neighborhood level, occupancy has remained around the low-90% range, and the renter share of housing units sits near the top of national comparisons—both supportive of steady leasing and renewal activity for well-maintained product. Elevated home values in the surrounding area reinforce renter reliance on multifamily housing, which can bolster pricing power for units that show well.
According to CRE market data from WDSuite, the neighborhood’s amenity rank is among the metro’s best and national percentiles for restaurants, groceries, parks, and pharmacies are in the mid- to high-90s, a tailwind for demand and retention. The 1991 vintage is newer than much of the local stock, offering a relative quality advantage versus pre-1970 buildings; targeted capital to refresh interiors and common areas can further differentiate the property. Key watch items include below-median school ratings, affordability pressure for renters, and modest softening in neighborhood occupancy over recent years—factors to address through unit mix strategy, measured rent setting, and ongoing asset upkeep.
- Deep renter base and high-cost ownership market support demand and lease retention
- Amenity-rich Urban Core location ranks among metro leaders, aiding absorption
- 1991 vintage out-positions older local stock; value-add upgrades can enhance rents
- Rising incomes within 3 miles expand the tenant pool and support collections
- Risks: below-median school ratings, renter affordability pressure, and recent occupancy softening at the neighborhood level