| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 23rd | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2420 S Western Ave, Los Angeles, CA, 90018, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1990 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2420 S Western Ave Los Angeles Multifamily Investment
1990-vintage, 40-unit asset positioned in an urban-core renter market with high ownership costs that reinforce apartment demand. Neighborhood occupancy trends and renter concentration suggest durable leasing fundamentals, according to WDSuite’s CRE market data.
This Los Angeles Urban Core location offers daily convenience and tenant-attracting amenities. Neighborhood data indicate dense access to groceries and dining, performing in the top quartile nationally for both categories, which supports leasing and resident retention. Cafés and childcare options are also competitive versus many U.S. neighborhoods, adding to day-to-day livability for renters.
The surrounding housing stock skews older (neighborhood average construction year is 1932 across 1,441 metro neighborhoods), while this property’s 1990 construction is newer than much of the competitive set. That positioning can help with leasing versus older inventory, though investors should still plan for ongoing system updates and common-area refreshes typical of a 1990 asset.
Renter-occupied housing makes up roughly three-quarters of units in the neighborhood (above metro medians and high nationally), signaling a deep tenant base for multifamily. Neighborhood occupancy rates trend below the metro median among 1,441 neighborhoods, so active leasing and retention strategies remain important to sustain performance.
Within a 3-mile radius, demographics show a modest population contraction over the last five years alongside a small increase in total households, with forecasts calling for a sizable household increase and smaller average household sizes by 2028. This dynamic points to a larger renter pool and support for unit absorption even as household composition evolves. Elevated home values (top percentile nationally) indicate a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can aid pricing power and lease retention.
Median contract rents in the neighborhood rose over the past five years and are projected to continue increasing within the 3-mile area, based on CRE market data from WDSuite. While this supports rent growth potential, the neighborhood’s high rent-to-income ratio underscores affordability pressure, suggesting careful lease management and value-oriented amenity upgrades to balance rent positioning with retention.
Neighborhood safety indicators benchmark near the national middle overall, but violent and property offense measures track weaker than national averages. Among 1,441 metro neighborhoods, crime levels place roughly around the metro median, indicating investors should underwrite with prudent security and operating assumptions.
Year-over-year trends are improving: estimated violent offense rates and property offenses both declined notably in the latest year. These directional shifts may support perception and leasing over time, though investors should continue to monitor local data and emphasize resident safety programs.
Proximity to major employers supports commuter convenience and a broad renter base, including roles in commercial real estate services, software, metals distribution, entertainment, and engineering. Nearby anchors include CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and AECOM.
- CBRE Group — commercial real estate services (3.4 miles) — HQ
- Microsoft — software (3.5 miles)
- Reliance Steel & Aluminum — metals distribution (3.5 miles) — HQ
- Live Nation Entertainment — entertainment (5.8 miles) — HQ
- AECOM — engineering (6.4 miles) — HQ
2420 S Western Ave offers a 1990-vintage, 40-unit footprint in an amenity-rich Los Angeles Urban Core setting. The neighborhood’s deep renter concentration and high-cost ownership landscape bolster multifamily demand and potential pricing power. While neighborhood occupancy trends sit below the metro median among 1,441 neighborhoods, dense retail and service amenities, plus proximity to large employers, support resident retention and leasing velocity.
Based on CRE market data from WDSuite, the area’s rent levels have trended upward and are forecast to continue rising within the 3-mile radius, even as household sizes are projected to decline and total households expand—implying a larger renter pool. As a 1990 asset competing against older neighborhood stock, the property can benefit from modernization and targeted value-add to enhance positioning, with attention to affordability pressure and active lease management.
- Newer-than-neighborhood stock (1990) offers competitive positioning versus older assets, with scope for targeted upgrades.
- High renter concentration and top-tier amenity access support demand depth and resident retention.
- Proximity to major employers underpins leasing and reduces commute friction for tenants.
- Directional rent growth and a projected increase in households within 3 miles point to a larger tenant base.
- Risks: neighborhood occupancy below metro median and elevated rent-to-income ratios require disciplined pricing and retention strategies.