| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 65th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 412 S Westmoreland Ave, Los Angeles, CA, 90020, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1989 |
| Units | 74 |
| Transaction Date | 2016-12-28 |
| Transaction Price | $3,780,000 |
| Buyer | YU MICHELLE L |
| Seller | YU SIO ENG |
412 S Westmoreland Ave Los Angeles Multifamily Investment
This 74-unit property benefits from strong renter demand in an urban core neighborhood where 81% of housing units are renter-occupied, according to CRE market data from WDSuite.
Located in Los Angeles' urban core, this neighborhood ranks in the top 10% nationally for amenity access, with exceptional density of cafes, restaurants, and essential services that appeal to urban renters. The area maintains an 89% occupancy rate with 81% of housing units renter-occupied, reflecting strong rental demand fundamentals that support multifamily investments.
Built in 1989, this property represents newer construction compared to the neighborhood average of 1972, potentially reducing near-term capital expenditure needs while maintaining competitive positioning. Median contract rents of $1,817 have grown 46% over five years, indicating sustained pricing power in this rental market.
Demographics within a 3-mile radius show a stable renter base with 88% of housing units occupied by renters and median household income of $62,194. The area's high home values relative to income levels reinforce rental demand, as elevated ownership costs sustain renter reliance on multifamily housing. Forward-looking projections indicate continued household growth supporting the tenant pipeline.
The neighborhood scores above the 75th percentile nationally for housing metrics and ranks in the top quartile among 1,441 metro neighborhoods overall, reflecting its investment-grade fundamentals for commercial real estate analysis.
Safety metrics show mixed trends with property crime rates at moderate levels compared to other Los Angeles neighborhoods, ranking in the middle range among 1,441 metro neighborhoods. However, recent data indicates significant improvement, with both property and violent crime rates declining substantially year-over-year, suggesting positive momentum in neighborhood conditions.
Investors should monitor these improving trends as part of ongoing due diligence, as safety perceptions can influence tenant retention and lease-up velocity in urban multifamily properties.
The property benefits from proximity to major corporate offices and headquarters, providing workforce housing for diverse employment sectors that support rental demand stability.
- CBRE Group — commercial real estate services (2.2 miles) — HQ
- Microsoft — technology offices (2.3 miles)
- Reliance Steel & Aluminum — industrial materials (2.3 miles) — HQ
- Live Nation Entertainment — entertainment services (4.0 miles)
- Activision Blizzard Studios — gaming & technology (6.4 miles)
This 74-unit property leverages strong urban fundamentals in a neighborhood that ranks in the top quartile among Los Angeles metro neighborhoods. With 81% renter occupancy and recent rent growth of 46% over five years, the location demonstrates sustained rental demand and pricing power. The 1989 construction year provides newer building systems compared to the neighborhood average, potentially reducing immediate capital requirements while maintaining competitive appeal.
Demographics within a 3-mile radius support long-term rental stability, with household growth projected to continue and high ownership costs reinforcing renter reliance on multifamily housing. The neighborhood's exceptional amenity density and improving safety trends further enhance tenant retention prospects for multifamily property research considerations.
- Strong rental fundamentals with 81% renter occupancy and 46% rent growth over five years
- Top quartile neighborhood ranking among 1,441 Los Angeles metro areas
- Newer 1989 construction reduces near-term capital expenditure needs
- Proximity to major employers including CBRE Group and Microsoft headquarters
- Risk consideration: Monitor rent-to-income ratios as affordability pressure may impact renewals