| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 97th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2245 S Beverly Glen Blvd, Los Angeles, CA, 90064, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2001 |
| Units | 53 |
| Transaction Date | 2023-03-29 |
| Transaction Price | $66,100,000 |
| Buyer | XENON INVESTMENT CORPORATION |
| Seller | ERP OPERATING LIMITED PARTNERSHIP |
2245 S Beverly Glen Blvd Los Angeles Multifamily Investment
Newer 2001 construction in an A+ West LA neighborhood offers durable renter demand and competitive positioning versus older stock, according to WDSuite’s CRE market data. Amenities, incomes, and elevated ownership costs in the area support leasing fundamentals and tenant retention.
Located in an Urban Core pocket of West Los Angeles, this address sits in one of the metro’s highest-rated areas, with the neighborhood ranked among the top performers out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Dining, cafes, groceries, parks, and pharmacies score in the top tier nationally, signaling strong day-to-day convenience that supports renter appeal and leasing stability.
The property’s 2001 vintage is newer than the neighborhood’s average construction year, indicating competitive positioning versus older buildings nearby; investors can plan for selective modernization to keep systems current while benefiting from relatively newer base systems.
Within a 3-mile radius, a high share of housing units are renter-occupied, pointing to a deep tenant base and steady multifamily demand. Forecasts call for population growth and a meaningful increase in households over the next five years, expanding the renter pool and helping support occupancy stability.
Area home values are elevated relative to incomes, creating a high-cost ownership market that tends to reinforce reliance on multifamily rentals and support pricing power. At the same time, rent-to-income levels appear manageable for many local households, which can aid lease retention and reduce turnover risk, based on CRE market data from WDSuite.
Neighborhood safety trends compare favorably in context. The area is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked against 1,441 in the metro) and sits above the national median for safety, indicating relatively lower reported crime than many U.S. neighborhoods.
Recent year-over-year data show notable declines in both property and violent offense estimates, suggesting improving conditions. As always, investors should monitor submarket-level trends over time rather than relying on a single period, but current directionality is supportive of renter confidence and retention.
Proximity to major corporate offices in media, energy, and engineering provides a strong professional employment base and convenient commutes that can underpin multifamily leasing and retention. Nearby anchors include AECOM, Occidental Petroleum, Activision Blizzard, Live Nation Entertainment, and Symantec.
- AECOM — engineering & infrastructure (0.69 miles) — HQ
- Occidental Petroleum — energy (1.54 miles) — HQ
- Activision Blizzard — interactive entertainment (2.76 miles) — HQ
- Live Nation Entertainment — entertainment (2.12 miles) — HQ
- Symantec — cybersecurity offices (4.57 miles)
The investment case centers on a 2001-vintage asset positioned in a top-performing West LA neighborhood with exceptional amenity access and strong household incomes. Elevated ownership costs locally tend to sustain rental demand, while a large, renter-occupied housing base within 3 miles provides depth to the tenant pool. Forward-looking demographics indicate population growth and a notable increase in households, supporting occupancy stability and lease-up resilience.
According to CRE market data from WDSuite, neighborhood-level rent and income dynamics, combined with high-quality amenities, are consistent with steady demand and pricing power. Given the property’s relatively newer construction versus much of the surrounding stock, investors can focus on targeted upgrades and operational execution to enhance NOI while remaining attentive to neighborhood occupancy trends and broader Los Angeles cyclicality.
- Newer 2001 construction versus older neighborhood stock supports competitive positioning and reduced near-term capital intensity.
- High-cost ownership market reinforces renter reliance on multifamily, aiding pricing power and lease retention.
- Strong amenity density and professional employment core support sustained demand and occupancy stability.
- 3-mile forecasts show population growth and more households, expanding the renter pool over the next five years.
- Risks: neighborhood occupancy levels warrant monitoring, and Los Angeles macro cycles could influence rent growth and turnover.