| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 62nd | Good |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 428 Veteran Ave, Los Angeles, CA, 90024, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
428 Veteran Ave Los Angeles Multifamily Investment
This 20-unit property anchors a neighborhood where renter-occupied units represent 59% of housing stock and median rents reach $2,536—placing the area in the 97th national percentile according to CRE market data from WDSuite.
Located in the Los Angeles-Long Beach-Glendale metro, this neighborhood earns an A rating and ranks 118th among 1,441 metro neighborhoods, reflecting top-quartile fundamentals in housing and amenities. The area's renter-occupied share of 59.3% ranks in the 93rd national percentile, underscoring a deep and sustained tenant base for multifamily properties. Median contract rent of $2,536 places the neighborhood in the 97th percentile nationally, signaling robust pricing power and above-average revenue potential relative to both metro and national benchmarks.
Within a 3-mile radius, demographic statistics reveal a population of approximately 159,000 with household incomes averaging $195,179 and a median of $124,079. Over the past five years, median household income has grown 27.8%, while median rents have increased 31.2%, outpacing income gains and reinforcing the area's premium positioning. Forward projections through 2028 anticipate a population increase to roughly 172,500, household growth of 38.9%, and median rent rising to $3,213—dynamics that support continued multifamily demand and occupancy stability.
The property was built in 1986, older than the neighborhood's average construction year of 1976. Investors should budget for potential capital expenditures related to building systems and unit interiors, though the vintage also presents value-add and renovation upside in a high-rent submarket. Amenity density is strong: the neighborhood counts 5.09 grocery stores per square mile (96th national percentile), 34.07 restaurants per square mile (98th percentile), and 3.56 cafés per square mile (98th percentile), all of which enhance tenant appeal and retention.
Neighborhood-level occupancy stands at 81.0%, ranking in the 20th national percentile and indicating softer absorption relative to other metros. This occupancy figure reflects the immediate submarket and warrants careful lease management and competitive positioning. Meanwhile, median home values of $1,446,280 (99th national percentile) limit ownership accessibility and sustain rental demand, as elevated ownership costs reinforce renter reliance on multifamily housing. The rent-to-income ratio of 0.40 ranks in the 2nd national percentile, signaling affordability pressure that may influence tenant retention and lease renewal strategies.
The neighborhood's crime rank of 636 out of 1,441 metro neighborhoods places it near the middle of the distribution, corresponding to the 60th national percentile—a competitive position among Los Angeles-area submarkets. Violent offense rates are estimated at 70.6 incidents per 100,000 residents, ranking 888th (37th national percentile), while property offense rates stand at 1,001.9 per 100,000, ranking 1,109th (23rd national percentile).
Year-over-year trends show meaningful improvement: property offenses declined 46.3% (86th national percentile for rate of change) and violent offenses fell 74.9% (95th national percentile for rate of change). These directional improvements suggest stabilizing conditions that may support tenant confidence and lease retention over time. Investors should monitor ongoing crime trends at the neighborhood and metro level as part of due diligence and risk management.
The surrounding submarket benefits from proximity to several major corporate offices, supporting workforce housing demand and commute convenience. Nearest anchors include Occidental Petroleum, AECOM, and Activision Blizzard.
- Occidental Petroleum — energy & exploration (0.9 miles) — HQ
- AECOM — engineering & infrastructure (2.3 miles) — HQ
- Activision Blizzard Studios — interactive entertainment (3.1 miles)
- Live Nation Entertainment — live events & entertainment (3.2 miles) — HQ
- Activision Blizzard — interactive entertainment (3.4 miles) — HQ
This 20-unit property built in 1986 offers exposure to a top-quartile Los Angeles neighborhood with strong rent fundamentals and projected demographic tailwinds. Median contract rent of $2,536 places the area in the 97th national percentile, while the 59.3% renter-occupied share (93rd percentile nationally) reflects a deep tenant base. According to commercial real estate analysis from WDSuite, forward projections through 2028 anticipate population growth to 172,500 and a 38.9% increase in households within a 3-mile radius, supporting continued multifamily demand. Median rent is forecast to reach $3,213, reinforcing pricing power in a premium submarket.
The property's 1986 vintage presents value-add and renovation upside in a high-rent environment, though investors should plan for capital expenditures related to building systems and unit interiors. Proximity to major employers including Occidental Petroleum (0.9 miles) and AECOM (2.3 miles) strengthens workforce housing appeal. However, neighborhood-level occupancy of 81.0% ranks in the 20th national percentile, signaling softer absorption that requires careful lease management and competitive positioning. The rent-to-income ratio of 0.40 (2nd percentile nationally) indicates affordability pressure that may affect tenant retention and renewal rates.
- Top-quartile rent fundamentals with median contract rent in the 97th national percentile
- Projected household growth of 38.9% and rent increase to $3,213 by 2028 support demand stability
- 1986 vintage offers value-add and renovation upside in a high-rent submarket
- Proximity to major corporate anchors enhances workforce housing appeal and commute convenience
- Neighborhood occupancy of 81.0% and rent-to-income ratio in 2nd percentile warrant careful lease management and retention strategies