| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 40th | Fair |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 212 Lucas Ave, Los Angeles, CA, 90026, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2004 |
| Units | 21 |
| Transaction Date | 2019-01-31 |
| Transaction Price | $3,000,000 |
| Buyer | POST GROUP X EMERALD LP |
| Seller | EMERALD PARK |
212 Lucas Ave, Los Angeles Multifamily Investment
Urban-core location with deep renter demand and proximity to major employers supports durable leasing, according to WDSuite's CRE market data. 2004 construction offers competitive positioning versus older neighborhood stock while allowing room for selective updates.
Situated in Los Angeles's Urban Core, the neighborhood ranks in the top quartile among 1,441 metro neighborhoods (A- rating), with standout amenity access that underpins renter appeal and day-to-day convenience. Dining, groceries, parks, pharmacies, and cafes all register at very high national percentiles, reinforcing walkable lifestyle fundamentals attractive to tenants.
Neighborhood-level occupancy sits around national medians, while the area's renter-occupied share is exceptionally high (among the highest in the metro). For investors, this renter concentration signals a deep tenant base that can support leasing velocity and renewal potential, even as leasing strategies should stay agile to local competition. Based on commercial real estate analysis from WDSuite, average neighborhood NOI per unit trends in the top quartile nationally, indicating healthy income potential at the sub-neighborhood level, though individual asset performance will vary.
The asset's 2004 vintage is newer than the neighborhood's older housing stock (average vintage 1954). That positioning can be accretive versus legacy properties, while investors should still underwrite routine modernization and systems upkeep typical of a 20-year-old building to stay competitive on finishes and efficiency.
Within a 3-mile radius, households have increased even as average household size has contracted, pointing to more, smaller households entering the market. This shift expands the pool of prospective renters and can support occupancy stability. Elevated home values at the neighborhood level—high relative to national norms—suggest a high-cost ownership market that tends to sustain reliance on multifamily rentals, which can aid tenant retention and pricing power when paired with disciplined lease management.
Safety indicators are mixed but improving. At the metro level, the neighborhood is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 564 out of 1,441), and nationally it trends safer than average on composite measures. Violent and property offense rates have shown notable year-over-year improvement, according to WDSuite's CRE data, which supports a constructive trajectory without making block-level claims.
As always, investors should evaluate trends over time and compare them to peer submarkets. National percentile context suggests the area performs better than many neighborhoods nationwide overall, while certain violent crime components still warrant active property-level security and resident-experience planning.
Nearby corporate offices anchor a diverse employment base, supporting workforce housing demand and commute convenience for renters. The list below highlights major employers within an approximately 8-mile radius that can reinforce leasing stability.
- Microsoft — technology offices (0.7 miles)
- CBRE Group — real estate services (0.7 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (0.8 miles) — HQ
- Live Nation Entertainment — entertainment & media (5.6 miles)
- Avery Dennison — materials & manufacturing (6.7 miles) — HQ
212 Lucas Ave offers a 2004-vintage, 21-unit footprint in an amenity-rich Urban Core pocket where the renter-occupied share is among the highest in the metro. This depth of renter demand, combined with a high-cost ownership landscape at the neighborhood level, supports lease-up and retention. Neighborhood occupancy trends around national medians, suggesting stable demand with room to capture share through effective operations and targeted upgrades.
The property's newer-than-average vintage versus surrounding stock provides competitive positioning against older assets, while standard modernization and efficiency improvements can enhance rentability. Nearby corporate employers broaden the daily commuter pool, and, within a 3-mile radius, growth in the number of households alongside smaller household sizes points to a larger tenant base over time. According to CRE market data from WDSuite, neighborhood income performance metrics are solid relative to national benchmarks, reinforcing the long-term case while warranting attentive affordability and renewal management.
- Amenity-dense Urban Core location with top-quartile metro standing
- Deep renter concentration supports tenant base and leasing stability
- 2004 vintage competitive versus older neighborhood stock; selective value-add can enhance positioning
- Proximity to major employers underpins workforce demand and retention
- Risks: affordability pressure and occupancy below top metro tiers require disciplined pricing and renewal management