| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 95th | Best |
| Amenities | 40th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2975 W Waverly Dr, Los Angeles, CA, 90039, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | 2017-11-30 |
| Transaction Price | $13,000,000 |
| Buyer | TAYLOR EQUITIES 20 LLC |
| Seller | KELLEHER JAMES D |
2975 W Waverly Dr Los Angeles Multifamily Investment
This 36-unit property sits in a neighborhood with 88.6% occupancy and strong rental fundamentals, according to CRE market data from WDSuite.
The property is located in an Urban Core neighborhood with an A- rating, ranking in the top quartile among 1,441 metro neighborhoods. The area demonstrates solid rental demand fundamentals with 56.4% of housing units occupied by renters, supporting multifamily property performance. Median contract rent of $2,152 reflects the neighborhood's positioning in the 94th national percentile, indicating strong pricing power relative to national markets.
Built in 1985, this property aligns with the neighborhood's average construction year of 1962, offering potential value-add opportunities through targeted capital improvements. The area benefits from exceptional school ratings averaging 5.0 out of 5, ranking 1st nationally, which supports tenant retention and appeals to family renters. Demographics within a 3-mile radius show a balanced age distribution with 29.4% of residents aged 18-34 and 40.6% aged 35-64, providing a stable renter base for multifamily properties.
The neighborhood demonstrates strong affordability fundamentals with rent-to-income ratios in the 31st national percentile, suggesting manageable housing costs that support tenant retention. Home values at $1.6 million median reinforce rental demand, as elevated ownership costs keep households in the rental market. The area's amenity profile includes 3.42 parks per square mile, ranking in the 98th national percentile, enhancing tenant appeal and supporting lease renewals.
The neighborhood demonstrates improving safety trends with property crime rates declining 80.7% over the past year, ranking in the 98th national percentile for improvement. Violent crime rates also decreased 82.3% annually, placing the area in the 97th national percentile for safety improvements nationwide. Current crime metrics position the neighborhood competitively within the Los Angeles metro area, with property offense rates at 203 per 100,000 residents and violent crime at approximately 21 per 100,000 residents.
The property benefits from proximity to major corporate employers that support workforce housing demand, including entertainment, technology, and industrial headquarters within commuting distance.
- Avery Dennison — industrial materials (3.3 miles) — HQ
- Microsoft — technology offices (4.1 miles)
- CBRE Group — commercial real estate services (4.1 miles) — HQ
- Reliance Steel & Aluminum — industrial materials (4.2 miles) — HQ
- Disney — entertainment media (4.6 miles) — HQ
This 36-unit property built in 1985 presents value-add potential through strategic capital improvements while benefiting from strong neighborhood fundamentals. The Urban Core location demonstrates rental market stability with 88.6% occupancy and median rents of $2,152, positioning in the top quartile nationally for rental performance. Demographics within a 3-mile radius support long-term demand with 261,000 residents and household growth projected through 2028, expanding the potential renter pool.
The property's vintage offers renovation upside to capture higher rents, while the neighborhood's exceptional school ratings and park amenities support tenant retention. Proximity to major employers including Disney, Microsoft, and Avery Dennison headquarters provides workforce housing appeal within reasonable commuting distance.
- Strong rental fundamentals with 88.6% neighborhood occupancy and top-quartile rent performance
- Value-add potential through 1985 vintage property improvements in appreciating market
- Proximity to major corporate employers supporting workforce housing demand
- Risk consideration: Monitor occupancy trends as neighborhood rates declined 0.8% over five years