| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 39th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2404 Wilshire Blvd, Los Angeles, CA, 90057, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2002 |
| Units | 71 |
| Transaction Date | --- |
| Transaction Price | $25,500,000 |
| Buyer | Current Listing |
| Seller | 2404 Wilshire LTD |
2404 Wilshire Blvd Los Angeles Multifamily Investment
Positioned in an Urban Core pocket with steady neighborhood occupancy and a very high share of renter-occupied units, this asset benefits from durable renter demand, according to WDSuite’s CRE market data. Newer construction for the area supports competitive positioning versus older stock while proximity to employment and amenities aids leasing resilience.
The property sits in Los Angeles’s Urban Core and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (rank 559 of 1,441). Amenity access is a clear strength: restaurant and cafe density ranks near the top nationally, and grocery and pharmacy access are similarly strong. Green space is limited in this micro-location (parks rank 1,441 of 1,441), a typical urban tradeoff investors should consider for resident appeal.
Neighborhood rents trend above national medians, and occupancy in the neighborhood has remained stable in the low-90s in recent years, supporting predictable cash flow at the submarket level. Importantly, the share of housing units that are renter-occupied is extremely high, indicating a deep tenant base for multifamily product. These dynamics point to consistent leasing velocity and fewer seasonal swings than ownership-heavy areas.
Within a 3-mile radius, households have increased even as total population edged down, reflecting smaller average household sizes and a broadening renter pool. Forward-looking projections show continued growth in household counts alongside rising incomes, which supports demand for quality rental housing and helps sustain occupancy stability.
Ownership is a high-cost proposition locally relative to incomes, and elevated home values reinforce reliance on multifamily housing rather than ownership. For investors, this tends to support pricing power and lease retention, although monitoring rent-to-income levels remains prudent for renewal strategy and risk management.
Safety indicators are mixed but improving. Overall crime levels benchmark above the national median (70th percentile nationwide) and are competitive among Los Angeles-Long Beach-Glendale neighborhoods (crime rank 486 of 1,441). Violent incident benchmarks sit below national medians, while property crime aligns closer to national averages; both categories show meaningful year-over-year improvement trends based on WDSuite’s CRE market data.
As with any Urban Core location, investors should underwrite sensible on-site measures and resident experience, and compare trends against nearby submarkets rather than block-level assumptions.
The location draws from a diversified employment base that supports multifamily renter demand and commute convenience, notably in commercial real estate services, software, metals distribution, live entertainment, and media.
- CBRE Group — commercial real estate services (1.6 miles) — HQ
- Microsoft — software (1.6 miles)
- Reliance Steel & Aluminum — metals distribution (1.7 miles) — HQ
- Live Nation Entertainment — live entertainment (4.6 miles)
- Disney — media & entertainment (7.2 miles) — HQ
Built in 2002, the property is materially newer than the surrounding neighborhood’s older housing stock, offering competitive positioning versus prewar and mid-century assets and potential to capture tenants prioritizing modern construction. Based on CRE market data from WDSuite, neighborhood occupancy has been steady with modest improvement, and a very high share of renter-occupied housing units signals a deep, resilient tenant base.
Household growth within a 3-mile radius, alongside rising incomes and high ownership costs, supports ongoing demand for rentals and contributes to lease-up and retention durability. Investors should balance this with prudent rent-to-income management and awareness of limited nearby green space and below-average school ratings for family-oriented renters.
- 2002 vintage offers competitive positioning versus older neighborhood stock with limited near-term structural capex
- Stable neighborhood occupancy and very high renter-occupied share underpin demand depth and leasing resilience
- Strong urban amenity access and proximity to major employers support retention and pricing power
- High-cost ownership market reinforces reliance on rental housing and supports long-term multifamily demand
- Risks: affordability pressure (rent-to-income), limited green space, and school ratings below national medians