| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 32nd | Poor |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2633 S Normandie Ave, Los Angeles, CA, 90007, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1983 |
| Units | 25 |
| Transaction Date | 2024-11-07 |
| Transaction Price | $11,500,000 |
| Buyer | NORMANDIE VILLAS COMMUNITY PARTNERS LP |
| Seller | NORMANDIE VILLAS |
2633 S Normandie Ave Los Angeles Multifamily Investment
This 25-unit property built in 1983 benefits from strong neighborhood rental demand with 95% occupancy rates and 63% renter-occupied housing units. Commercial real estate analysis shows the area's 28% five-year rent growth outpaces metro trends, according to WDSuite's CRE market data.
The neighborhood ranks in the top quartile nationally for amenity access among 1,441 Los Angeles metro neighborhoods, with strong grocery store density (3.61 per square mile) and restaurant availability (14.44 per square mile) supporting tenant retention. The area maintains a 95.2% occupancy rate with 63.4% of housing units renter-occupied, indicating sustained rental demand in this urban core location.
Demographic data within a 3-mile radius shows 517,674 residents with median household income of $55,709, though forecasts project income growth to $76,182 by 2028. The property's 1983 construction year aligns with the neighborhood's 1934 average vintage, presenting potential value-add opportunities through strategic renovations and unit upgrades.
Median contract rents of $1,384 have increased 28% over five years, while home values averaging $900,370 create affordability barriers that reinforce rental demand. The rent-to-income ratio remains relatively modest, supporting lease retention, though investors should monitor market dynamics as household incomes are projected to rise substantially over the next five years.
The neighborhood's high density of childcare facilities (1.80 per square mile, 91st percentile nationally) and parks (1.80 per square mile, 93rd percentile nationally) appeals to families, while the 82.7% renter-occupied housing stock within the broader 3-mile area demonstrates consistent multifamily demand patterns.
The neighborhood shows improving safety trends with property crime rates declining 71.5% over the past year and violent crime dropping 83.9%. Current property offense rates of 263.4 per 100,000 residents place the area at the median among 1,441 Los Angeles metro neighborhoods, while violent crime rates of 48.3 per 100,000 residents rank in the 43rd percentile nationally.
These substantial year-over-year crime reductions, with both property and violent crime declines ranking in the 96th and 98th percentiles respectively for improvement nationwide, suggest positive neighborhood trajectory that can support tenant confidence and retention rates.
The property benefits from proximity to major corporate offices within the greater Los Angeles employment corridor, providing workforce housing opportunities for professional tenants.
- CBRE Group — commercial real estate services (3.0 miles) — HQ
- Microsoft — technology offices (3.1 miles)
- Reliance Steel & Aluminum — industrial materials (3.1 miles) — HQ
- Live Nation Entertainment — entertainment services (5.4 miles)
- Symantec — cybersecurity technology (5.9 miles)
This 25-unit property presents a value-add opportunity in a stabilizing Los Angeles neighborhood with strong rental fundamentals. The 1983 construction year offers renovation potential while neighborhood occupancy rates of 95.2% and 28% five-year rent growth demonstrate market strength. Multifamily property research indicates the area's 63% renter-occupied housing stock and projected household income growth from $55,709 to $76,182 by 2028 should support continued rental demand.
High home values averaging $900,370 reinforce renter reliance on multifamily housing, while improving safety metrics and strong amenity density enhance tenant appeal. The property's proximity to major employers including CBRE Group and Microsoft provides workforce housing positioning within the broader Los Angeles employment corridor.
- Strong occupancy fundamentals with 95.2% neighborhood rate and 63% renter tenure
- Value-add potential through strategic renovations of 1983-vintage units
- Projected 37% household income growth supports rent growth potential
- High ownership costs ($900K median) reinforce rental demand
- Risk: Monitor rent-to-income ratios as household incomes rise