| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 45th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2911 Leeward Ave, Los Angeles, CA, 90005, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 1996-07-11 |
| Transaction Price | $594,000 |
| Buyer | HALF MOON N2 ASSOCIATES LP |
| Seller | 2911 LEEWARD AVE |
2911 Leeward Ave 24-Unit Los Angeles Multifamily
Amenity-rich Urban Core location with a deep renter base supports durable demand, according to WDSuite’s CRE market data. High neighborhood renter concentration and proximity to jobs help offset some occupancy softness.
Located in Los Angeles’s Urban Core, the property sits amid exceptional daily-needs and lifestyle access. The neighborhood ranks in the top tier nationally for restaurants, cafés, groceries, and pharmacies, providing convenience that supports leasing velocity and retention. Limited park access is a known trade-off in dense cores, but walkable services tend to underpin steady renter interest.
For investors, this submarket shows a high share of renter-occupied housing units (neighborhood renter concentration near the top of national comparisons), indicating a broad tenant base for multifamily. Neighborhood occupancy trails national norms, which points to more competitive leasing; however, strong amenity density and transit-oriented living typical of central Los Angeles help sustain traffic and absorption.
The median home value in the neighborhood sits well above most areas nationwide, a high-cost ownership context that can reinforce reliance on rental housing and support pricing power for well-positioned properties. Rent-to-income metrics suggest affordability pressure for some households, making prudent lease management and renewal strategies important to sustain occupancy stability.
Within a 3-mile radius, demographics indicate a modest population dip alongside an increase in total households and smaller average household sizes. This combination often expands the renter pool, supporting multifamily demand even as population edges lower. Income measures have been rising and are projected to continue growing, which can support rent levels for competitive product.
Vintage matters here: the average neighborhood construction year skews older (late 1960s). With a 1990 build, the asset is newer than much of the surrounding stock, which can improve its competitive position versus older properties; investors should still plan for system upgrades and selective modernization to capture value and reduce long-term capital risk.
Neighborhood safety trends are comparatively favorable versus many urban cores. The area’s crime standing is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 460 out of 1,441 metro neighborhoods), and it performs better than most neighborhoods nationally (around the 72nd percentile). Year-over-year shifts show notable improvement, with both property and violent offense rates declining materially, placing the neighborhood’s trend in a strong improvement tier compared with areas nationwide.
As with any dense, transit-served district, investors should underwrite standard urban security measures and consider lighting, access control, and property management practices as part of the operating plan. The trajectory, rather than isolated snapshots, is the more relevant signal for investment underwriting here.
Proximity to major corporate offices supports a steady renter pipeline and commute convenience for residents, including roles in real estate services, technology, and diversified industrials: CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and Avery Dennison.
- CBRE Group — real estate services (2.0 miles) — HQ
- Microsoft — technology (2.0 miles)
- Reliance Steel & Aluminum — metals & distribution (2.1 miles) — HQ
- Live Nation Entertainment — entertainment (4.4 miles)
- Avery Dennison — materials & labeling (7.0 miles) — HQ
This 24-unit, 1990-vintage asset benefits from a central Los Angeles location with exceptional amenity access and a renter-dense housing landscape, supporting a broad tenant base and ongoing leasing activity. Neighborhood occupancy runs below national norms, but household formation within a 3-mile radius is trending upward even as population inches lower, signaling smaller households and a potentially expanding renter pool. Elevated ownership costs in the area further reinforce reliance on multifamily housing.
The property’s vintage is newer than the neighborhood average, offering relative competitiveness against older stock while allowing for targeted value-add through common-area refreshes, in-unit updates, and building systems planning. Based on commercial real estate analysis from WDSuite, amenity density and nearby employers provide demand support, while rent-to-income levels suggest investors should prioritize retention and prudent rent setting to manage affordability pressure and stabilize occupancy over the hold.
- Urban Core location with top-tier access to restaurants, cafés, groceries, and pharmacies supports leasing and retention.
- High neighborhood renter-occupied share signals deep tenant demand for multifamily units.
- 1990 construction is newer than local averages, with targeted value-add and capital planning opportunities.
- Household growth within 3 miles and rising incomes underpin rent levels for competitive product.
- Risks: below-median neighborhood occupancy and rent-to-income pressure call for disciplined pricing, renewal focus, and amenity-driven differentiation.