| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 95th | Best |
| Amenities | 40th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3016 Waverly Dr, Los Angeles, CA, 90039, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1973 |
| Units | 45 |
| Transaction Date | 1998-05-04 |
| Transaction Price | $1,302,500 |
| Buyer | 7400 SEPULVEDA INVESTORS LP |
| Seller | 3016 WAVERLY INVESTORS LTD |
3016 Waverly Dr Los Angeles Multifamily Investment
Positioned in a high-cost ownership pocket of Los Angeles, this 45-unit asset benefits from deep renter demand and a strong neighborhood profile, according to WDSuite’s CRE market data. Neighborhood statistics point to durable pricing power supported by top-tier schools and park access, while monitoring occupancy trends remains important for underwriting.
The property sits within an Urban Core neighborhood rated A- and ranked in the top quartile among 1,441 metro neighborhoods, signaling competitive fundamentals for multifamily investors. Neighborhood-level rents benchmark high nationally, while home values are elevated, reinforcing reliance on rental housing and supporting lease retention and pricing discipline.
Livability indicators are mixed but generally favorable. Park access scores in the 98th percentile nationally and grocery availability is above average (80th percentile), while cafes and pharmacies are relatively limited nearby. The average school rating ranks first among 1,441 metro neighborhoods (100th percentile nationally), a differentiator that can support family-oriented demand and longer tenures.
Tenure patterns indicate depth in the renter base: the neighborhood 7s share of renter-occupied housing units is high (well above the national average), which supports demand stability for multifamily. At the same time, neighborhood occupancy is below national medians, suggesting investors should underwrite to careful lease-up and renewal strategies rather than assuming rapid absorption.
Within a 3-mile radius, households have increased even as overall population has edged lower, and forecasts point to further growth in household counts alongside smaller average household sizes. For investors, this implies an expanding pool of renters and ongoing demand for professionally managed apartments. Income levels in the 3-mile area have risen meaningfully, and rent growth is projected to continue, which can sustain collections and reduce turnover risk when paired with prudent affordability management.
Safety indicators are comparatively favorable versus national benchmarks. Neighborhood crime measures align with roughly the top quartile nationally, and both property and violent offense rates have posted substantial year-over-year decreases, according to WDSuite 7s CRE market data. While safety can vary block to block in any large city, the directional trend and relative positioning suggest supportive conditions for resident retention and leasing.
Proximity to major corporate offices underpins a diverse employment base and commuter convenience, supporting renter demand and retention for workforce and professional households. Nearby anchors include Avery Dennison, Microsoft, CBRE Group, Reliance Steel & Aluminum, and Live Nation Entertainment.
- Avery Dennison — materials & labeling (3.3 miles) — HQ
- Microsoft — technology offices (4.1 miles)
- CBRE Group — commercial real estate services (4.2 miles) — HQ
- Reliance Steel & Aluminum — metals & distribution (4.2 miles) — HQ
- Live Nation Entertainment — entertainment & media (4.4 miles)
3016 Waverly Dr offers a mid-1970s vintage, 45-unit footprint with large average unit sizes, creating clear value-add pathways through interior upgrades and systems modernization. The surrounding neighborhood combines strong school quality and park access with a high renter concentration and elevated ownership costs, factors that can support occupancy stability and measured rent growth.
According to CRE market data from WDSuite, neighborhood-level rents sit high nationally while ownership remains expensive relative to incomes, bolstering the renter pool. Forward-looking 3-mile demographics point to rising household counts and smaller household sizes, which typically expand the tenant base for well-managed apartments. Investors should note that neighborhood occupancy trends are softer than national medians, making disciplined leasing, renewal management, and unit-by-unit repositioning important to the thesis.
- Mid-1970s vintage with large average unit sizes supports targeted value-add and modernization
- High-cost ownership market reinforces rental reliance and potential pricing power
- Top-tier schools and strong park access enhance livability and retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: Neighborhood occupancy trails national medians; plan for disciplined leasing and renewals