| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 28th | Poor |
| Amenities | 49th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2202 Michigan Ave, Los Angeles, CA, 90033, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1985 |
| Units | 28 |
| Transaction Date | 2022-12-20 |
| Transaction Price | $6,500,000 |
| Buyer | HEBISH SHAHID LIVING TRUST |
| Seller | MICHIGAN HEIGHTS APARTMENTS LLC |
2202 Michigan Ave Los Angeles Multifamily Investment
Positioned in an Urban Core pocket with renter concentration and above-median neighborhood occupancy, this asset offers durable tenant demand and potential pricing power, according to WDSuite’s CRE market data.
The property sits in Los Angeles s Urban Core where daily conveniences are close at hand. Caf e9 and grocery density ranks among the highest nationally, supporting walkable living and broad renter appeal, while parks and pharmacies are less prevalent nearby. Average school ratings trend near the national midpoint, useful for workforce housing positioning rather than family-oriented premium strategies.
With a high share of renter-occupied units at the neighborhood level and a deeper 3-mile tenant base (statistics aggregated within a 3-mile radius), demand for multifamily housing is reinforced by the area s high-cost ownership market. Elevated home values and a high value-to-income ratio sustain reliance on rentals, which can support retention and occupancy stability for well-managed properties.
The asset s 1985 construction is newer than the neighborhood s older housing stock. Investors can evaluate value-add upside from contemporary interior and systems upgrades relative to nearby prewar inventory, while planning for mid-life capital items typical of 1980s vintage assets (e.g., building systems modernization and common-area refresh).
Neighborhood data show occupancy above the national median and contract rents that have risen over the past five years, per WDSuite. Within a 3-mile radius, households have increased even as population has been roughly flat to slightly down, indicating smaller household sizes and a gradually expanding renter pool factors that can support leasing velocity and stabilize occupancy over time.
Safety indicators for the surrounding neighborhood compare favorably on several property and overall crime measures, landing around the top quartile nationally, while violent-offense metrics sit closer to the national middle. According to WDSuite s data, the most recent year also shows meaningful declines in both property and violent offense estimates versus the prior year. As with any Urban Core location in the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods), conditions can vary block to block, so investors typically underwrite with comparative, submarket-level benchmarks and recent trend data rather than isolated snapshots.
Proximity to diversified employers supports a broad renter base and short commutes, notably in metals distribution, software, real estate services, electric utilities, and labeling/packaging the same employers listed below.
- Reliance Steel & Aluminum metals distribution (2.34 miles) HQ
- Microsoft software (2.41 miles)
- CBRE Group commercial real estate services (2.45 miles) HQ
- Edison International electric utility (7.54 miles) HQ
- Avery Dennison labeling & packaging (8.09 miles) HQ
2202 Michigan Ave is a 28-unit, 1985-vintage multifamily in Los Angeles s Urban Core, surrounded by top-tier food and grocery access and a deep renter pool. The neighborhood shows above-median occupancy and strong renter concentration, while elevated ownership costs help sustain reliance on rentals and support lease retention. According to CRE market data from WDSuite, rents have trended upward in recent years and the surrounding 3-mile area is experiencing growth in household count even as average household size declines a setup that can expand the tenant base and underpin stabilized occupancy.
Relative to the area s older housing stock, a mid-1980s build offers competitive positioning with potential value-add through unit and common-area updates. Key underwriting considerations include mixed but improving safety trends, uneven access to parks and pharmacies, and household income dispersion that calls for thoughtful rent-to-income management.
- Deep renter concentration and above-median neighborhood occupancy support demand durability and leasing stability.
- High-cost ownership environment reinforces renter reliance, aiding retention and pricing power for well-managed assets.
- 1985 vintage is newer than nearby stock, with value-add potential via modernization and systems upgrades.
- Amenity-rich food and grocery scene enhances livability and supports renter appeal in an Urban Core setting.
- Risks: safety perceptions can vary by micro-location; limited park/pharmacy access; income dispersion requires careful lease and affordability management.