| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 65th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 S Commonwealth Ave, Los Angeles, CA, 90020, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1985 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
424 S Commonwealth Ave Los Angeles Multifamily Investment
Urban-core positioning with deep renter concentration and strong amenity access suggests durable tenant demand, according to WDSuite’s CRE market data. Steady neighborhood fundamentals and proximity to major employers support income stability potential.
This Urban Core neighborhood ranks 101 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, placing it in the top quartile locally for overall quality. Amenity density is a standout: grocery, restaurants, cafes, parks, and pharmacies all score in the 97th–99th national percentiles, reinforcing lifestyle convenience that helps leasing and retention, based on CRE market data from WDSuite.
Renter concentration in the neighborhood is high (above the 99th national percentile for renter-occupied share), indicating a deep tenant base for multifamily. While neighborhood occupancy is somewhat softer than national norms, the area’s renter orientation typically supports ongoing demand and quicker leasing velocity relative to more owner-heavy submarkets. Average school ratings trend slightly above national midpoints, providing an additional quality-of-life pillar without commanding premier pricing.
Within a 3-mile radius, demographic data indicate modest population contraction over the past five years alongside an increase in total households and a projected rise in households through 2028. This pattern points to smaller household sizes and a broadened renter pool over time — dynamics that can support occupancy stability and a consistent pipeline of prospective tenants. Median contract rents in the 3-mile area have risen over the last five years, signaling intact pricing power, but management should calibrate renewal strategies to local affordability to balance rent growth and retention.
Ownership costs in the neighborhood rate in the 90th+ national percentile for home values, characteristic of a high-cost ownership market. For multifamily investors, elevated values typically sustain reliance on rental housing, reinforcing depth of demand. Neighborhood NOI per unit trends above national norms, and the property’s 1985 vintage is newer than the neighborhood average construction year (1972), indicating competitive positioning versus older stock while leaving room for targeted modernization to enhance yield.
Relative to metro peers, the neighborhood’s safety profile is competitive among Los Angeles-Long Beach-Glendale neighborhoods (crime rank 410 out of 1,441). Nationally, it sits around the 74th percentile for safety, indicating better-than-average conditions compared with neighborhoods across the country.
Recent WDSuite indicators show sharp year-over-year declines in both violent and property offense rates in the neighborhood. While block-level outcomes vary and conditions can change, the directional trend suggests improving safety, which can support leasing confidence and resident retention.
Proximity to diversified corporate offices supports a sizable commuter tenant base and reinforces weekday demand. Notable nearby employers include CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and Avery Dennison.
- 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 offices (4.1 miles)
- Avery Dennison — materials & labeling (6.5 miles) — HQ
424 S Commonwealth Ave offers investors a renter-first urban location with high amenity access and a diversified employment base. The neighborhood ranks in the top quartile locally, and renter-occupied share is among the highest nationally, pointing to a deep tenant pool. Although area occupancy runs below national averages, household growth within a 3-mile radius and rising median rents indicate durable demand that can support income consistency with attentive lease management. The 1985 vintage is newer than the neighborhood’s average build year, suggesting relative competitiveness versus older stock and potential value-add through selective modernization of interiors and systems.
High home values in the neighborhood sustain reliance on rental housing, which can underpin pricing power and leasing velocity. At the same time, rent-to-income readings imply pockets of affordability pressure, a manageable risk that calls for disciplined renewal strategies and amenity-driven retention. According to WDSuite’s commercial real estate analysis, neighborhood NOI per unit trends above national norms, reinforcing the case for long-term cash flow resilience if operations are optimized.
- Urban-core, top-quartile neighborhood with high amenity access supporting lease-up and retention
- Deep renter concentration indicates a broad tenant base and demand durability
- 1985 construction offers competitive positioning with value-add modernization potential
- Nearby diversified employers bolster weekday demand and reduce turnover risk
- Risks: softer neighborhood occupancy and affordability pressure requiring proactive lease and expense management