| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 39th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2218 W Court St, Los Angeles, CA, 90026, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1989 |
| Units | 28 |
| Transaction Date | 2016-10-19 |
| Transaction Price | $8,275,000 |
| Buyer | LA PALOMA 2013 LLC |
| Seller | NHVA1-XXIX LLC |
2218 W Court St, Los Angeles Multifamily Investment
Strong renter concentration and a high-cost ownership market underpin durable demand in this Urban Core location, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady and supported by dense amenities, offering investors a resilient tenant base near Downtown Los Angeles.
The immediate neighborhood around 2218 W Court St rates a B and is competitive among Los Angeles–Long Beach–Glendale submarkets, ranking 559 out of 1,441 metro neighborhoods. It functions as an Urban Core setting with deep renter demand: the share of housing units that are renter-occupied is among the highest in the metro, which supports a broad tenant funnel and consistent leasing activity for small and mid-size multifamily assets.
Amenity access is a key strength. Restaurants, cafes, groceries, and pharmacies benchmark in the top national percentiles, translating to daily convenience within a short radius and helping with tenant retention. By contrast, limited park coverage (bottom tier nationally) reduces access to green space, so properties with usable on-site common areas or nearby private outdoor amenities can differentiate.
At the neighborhood level, occupancy trends sit modestly above national norms but below the metro median, suggesting stable leasing with periodic competition during shoulder seasons. Median contract rents and NOI per unit register around national mid-to-upper tiers, indicating room for revenue management while staying cognizant of tenant price sensitivity. Local schools score below metro and national averages, which may modestly temper demand from family renters relative to young professionals and roommate households.
Home values are elevated (near the top of national rankings), and the value-to-income ratio is among the highest nationwide. For investors, this high-cost ownership market tends to sustain rental demand and support lease retention. However, the rent-to-income ratio signals affordability pressure for some households, requiring disciplined renewals and thoughtful unit positioning. The property’s 1989 vintage is newer than the neighborhood’s older housing stock (average year built 1947), offering relative competitiveness versus prewar assets while still benefitting from targeted modernization.
Safety indicators are mixed but improving. Compared with other Los Angeles metro neighborhoods, the area ranks competitive on overall crime (486 out of 1,441), aligning with roughly top-third performance metro-wide and about the 70th percentile nationally. Recent data also show material year-over-year declines in both violent and property offenses, signaling an improving trendline that can support tenant retention and leasing stability.
Investors should note that violent offense benchmarks track closer to national mid-range while property offenses align near the national midpoint. The trajectory, not just the level, is important: the sharp one-year improvements indicate positive momentum, but prudent property-level measures (lighting, access control, and resident engagement) remain relevant to preserve performance.
Proximity to major employers in Downtown and adjacent corridors supports weekday traffic and steady renter demand, particularly for professionals. Notable nearby employers include Microsoft, CBRE Group, Reliance Steel & Aluminum, Live Nation Entertainment, and Avery Dennison.
- Microsoft — technology offices (1.6 miles)
- CBRE Group — commercial real estate services (1.6 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (1.7 miles) — HQ
- Live Nation Entertainment — entertainment (4.7 miles)
- Avery Dennison — materials & packaging (6.1 miles) — HQ
2218 W Court St sits in a renter-heavy Urban Core pocket where elevated ownership costs help keep households in multifamily housing, supporting occupancy stability and renewal visibility. Based on CRE market data from WDSuite, neighborhood occupancy is steady relative to national norms, while amenity density (food, grocery, and pharmacy access) strengthens day-to-day livability and renter retention. The 1989 construction is newer than much of the surrounding stock, offering competitive positioning against older assets and a manageable path for targeted renovations to capture value-add upside.
Within a 3-mile radius, household counts have increased as average household size trends down, effectively expanding the renter pool even as population growth is flat to modestly negative. Combined with high home values and a high value-to-income environment, the submarket’s fundamentals favor sustained renter reliance on multifamily. Key risks include affordability pressure (elevated rent-to-income), limited park space, and below-average school ratings, which call for careful leasing strategy and asset improvements focused on in-demand renter segments.
- Renter-heavy neighborhood and high-cost ownership market support durable demand and renewals
- Amenity-rich Urban Core location aids leasing velocity and tenant retention
- 1989 vintage offers competitive positioning versus older local stock with targeted value-add potential
- Household growth within 3 miles expands the renter base despite flat population trends
- Risks: affordability pressure (rent-to-income), limited park access, and below-average schools require thoughtful leasing and capital planning