| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 65th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 S Hoover St, Los Angeles, CA, 90020, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1972 |
| Units | 67 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
401 S Hoover St Los Angeles Multifamily Investment
Renter concentration is high at the neighborhood level, supporting depth of demand in an amenity-rich Urban Core location; according to WDSuite’s CRE market data, occupancy has been stable locally despite modest cyclical softening. Elevated ownership costs in Los Angeles bolster reliance on rentals, aiding retention and pricing discipline.
The immediate neighborhood around 401 S Hoover St achieves an A rating and ranks 101 out of 1,441 within the Los Angeles-Long Beach-Glendale metro—placing it in the top quartile among metro neighborhoods. It is an Urban Core setting with dense amenities that matter to renters and property performance.
Amenity access is a standout: neighborhood measures for grocery, restaurant, cafe, and pharmacy density sit around the 99th national percentile, and parks access is near the upper end as well. This concentration supports daily convenience, reduces commute friction for essentials, and tends to reinforce leasing velocity for well-managed assets.
At the neighborhood level, approximately 81% of housing units are renter-occupied, indicating a deep tenant base and durable demand for multifamily. Reported neighborhood occupancy is 89.4%, and while the 5-year trend shows a slight dip, the broader amenity strength and renter concentration provide a supportive backdrop for stabilization and renewal activity.
Within a 3-mile radius, demographics show smaller average household sizes over time and a projected increase in total households by the next five-year window, even as population edges down. For investors, that pattern typically points to renter pool expansion and steadier absorption of well-located units. Median home values in the neighborhood are elevated relative to incomes (high national percentile for value-to-income), which reinforces ongoing reliance on multifamily housing rather than ownership, a dynamic that can support pricing power but requires careful lease management.
Safety indicators compare favorably in a metro context: the neighborhood’s overall crime rank is competitive among Los Angeles neighborhoods and sits above the metro average (ranked 410 out of 1,441). Nationally, the neighborhood’s composite safety position is around the 74th percentile, suggesting relatively better conditions than many urban peers.
Trend data indicate notable year-over-year improvements: property and violent offense rates show substantial declines, placing the neighborhood near the top of national improvement percentiles. Current estimated offense rates register around the national middle, but the improvement trajectory is a constructive signal for long-term operations. As always, investors should underwrite to submarket trends rather than block-level assumptions.
Proximity to major employers in and around Central Los Angeles supports a broad renter base and commute convenience for residents, including roles across real estate services, software, metals distribution, entertainment, and media.
- CBRE Group — real estate services (2.1 miles) — HQ
- Microsoft — software & cloud (2.1 miles)
- Reliance Steel & Aluminum — metals distribution (2.2 miles) — HQ
- Live Nation Entertainment — entertainment (4.2 miles)
- Avery Dennison — materials & labeling (6.4 miles) — HQ
This 67-unit asset sits in a top-quartile Los Angeles Urban Core neighborhood with dense, walkable amenities and a renter-occupied share above 80%, signaling durable multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy is in the high-80s and net operating income per unit trends in the area are strong versus national peers, supporting a case for income stability with thoughtful operations.
Within a 3-mile radius, households are projected to grow while average household size declines, typically expanding the renter pool and supporting absorption. Elevated home values relative to income reinforce reliance on rental housing, aiding pricing power, while a higher rent-to-income ratio suggests prudent focus on retention and renewal strategies.
- Amenity-rich Urban Core location in a top-quartile metro neighborhood supports leasing velocity.
- Deep renter base (high renter-occupied share) underpins sustained multifamily demand.
- Neighborhood NOI per unit and occupancy trends compare well versus national benchmarks, supporting income stability.
- 3-mile area shows household growth and smaller household sizes, indicating renter pool expansion.
- Risk: Elevated rent-to-income ratios call for disciplined lease management and renewal strategies.