| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 32nd | Poor |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2505 Hancock St, Los Angeles, CA, 90031, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1985 |
| Units | 28 |
| Transaction Date | 1995-12-21 |
| Transaction Price | $600,000 |
| Buyer | KJW INVESTMENTS INC |
| Seller | WONG MARGIE Y K |
2505 Hancock St, Los Angeles – 28-Unit Urban Core Multifamily
Neighborhood occupancy trends sit in the mid-90s and renter concentration is high, pointing to durable leasing fundamentals, according to WDSuite’s CRE market data. Newer 1985 vintage relative to nearby stock supports competitive positioning with potential to enhance returns through targeted upgrades.
This Urban Core neighborhood carries a B+ rating and ranks 401 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods—competitive within the metro while benefiting from strong convenience retail and daily-needs access. Grocery, pharmacy, and dining density track in the top national quartile, supporting resident retention and day-to-day livability.
For investors, the depth of the tenant base is a key advantage: approximately three-quarters of housing units are renter-occupied at the neighborhood level, indicating a sizable pool for multifamily absorption and renewal activity. Neighborhood occupancy is about 95% with a positive five-year trend, suggesting stable leasing and limited downtime between turns.
Within a 3-mile radius, households have grown even as population edges lower, signaling smaller household sizes and a larger number of housing decisions—conditions that typically support multifamily demand. Elevated home values (high nationally) and a high value-to-income environment create a high-cost ownership market, which tends to sustain renter reliance and bolster lease retention for well-managed assets.
Vintage matters here. The subarea’s average construction year skews older (1930), while this property’s 1985 vintage offers relative competitiveness versus older stock. That positioning can reduce near-term obsolescence risk while still allowing value-add through system modernization and unit finishes—an angle that can be evaluated through disciplined commercial real estate analysis using WDSuite as a data reference point.
Safety indicators are favorable in comparative terms: the neighborhood sits in the top quartile nationally for overall crime safety and is competitive among the 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Recent data also shows notable year-over-year declines in both property and violent offense rates, a trend that can support renter retention and reduce turnover-related costs over time.
As always, investors should underwrite with current, property-level diligence and consider management practices and lighting/security enhancements to align with tenant expectations and sustain positive trends.
Nearby corporate employers provide a diversified white-collar employment base that supports renter demand and lease stability. Key nodes within commuting range include Microsoft, Reliance Steel & Aluminum, CBRE Group, Avery Dennison, and Edison International.
- Microsoft — corporate offices (2.9 miles)
- Reliance Steel & Aluminum — corporate offices (2.9 miles) — HQ
- CBRE Group — corporate offices (3.1 miles) — HQ
- Avery Dennison — corporate offices (6.2 miles) — HQ
- Edison International — corporate offices (7.6 miles) — HQ
Positioned in an amenity-rich Urban Core pocket with high renter concentration and mid-90s neighborhood occupancy, 2505 Hancock St offers durable demand drivers for a 28-unit asset. The 1985 vintage stands newer than much of the surrounding stock, giving the property competitive footing while leaving room for targeted value-add to elevate rents and retention without over-extending capital plans. Based on CRE market data from WDSuite, the local ownership market remains high-cost, which typically sustains reliance on rental housing and supports pricing power for well-managed communities.
Within a 3-mile radius, household counts are rising even as population trends soften, implying smaller households and a broader renter pool making housing decisions—conditions that can underpin occupancy stability. Near-term strategy can focus on unit modernization and operating efficiency, while underwriting should acknowledge demographic shifts and school quality as factors in leasing velocity and tenant mix.
- High renter-occupied share at the neighborhood level supports a deep tenant base and steady renewals.
- 1985 vintage is newer than area norms, offering competitive positioning plus value-add potential via targeted upgrades.
- Amenity-rich location with strong daily-needs access reinforces retention and reduces leasing friction.
- High-cost ownership market tends to sustain rental demand and pricing power for well-run assets.
- Risks: softening population and below-median school ratings may temper leasing velocity; capex planning for system modernization remains important.