| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 56th | Good |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 445 S Hobart Blvd, Los Angeles, CA, 90020, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1991 |
| Units | 67 |
| Transaction Date | 1996-12-23 |
| Transaction Price | $3,500,000 |
| Buyer | REALTY PARTNERS CORP |
| Seller | KOREA FIRST BANK |
445 S Hobart Blvd, Los Angeles Multifamily Investment
Positioned in an amenity-rich Urban Core pocket with deep renter demand, this asset benefits from neighborhood occupancy stability and high-cost ownership dynamics, according to WDSuite’s CRE market data.
The surrounding neighborhood rates A- and sits in the Urban Core of Los Angeles-Long Beach-Glendale, offering dense retail, dining, and services that support tenant retention. Restaurant, cafe, grocery, and pharmacy densities rank among the strongest locally and are top-tier nationally, signaling daily convenience and walkable lifestyle advantages that multifamily renters value.
Neighborhood occupancy is around the national midpoint yet has trended upward over the past five years, suggesting steadier leasing conditions versus prior periods. Renter concentration is high, with roughly 86.7% of housing units renter-occupied at the neighborhood level, indicating a sizable tenant base and depth for multifamily demand rather than a reliance on owner-occupied turnover.
Within a 3-mile radius, households have grown even as population has edged lower, pointing to smaller household sizes and a larger number of renting households entering the market. Median incomes in the 3-mile area have risen meaningfully, and projected gains alongside a forecast increase in households support ongoing renter pool expansion and occupancy stability. Home values in this neighborhood are elevated versus national benchmarks, which tends to sustain reliance on rental housing and can support pricing power when lease management is disciplined.
Schools in the area average about mid-range performance, and parks are limited within the immediate neighborhood, factors to account for when targeting family-oriented renters. Still, the concentration of amenities and transit-accessible employment nodes keeps the location competitive among Los Angeles neighborhoods for urban workforce housing.
Safety metrics are comparatively favorable versus national norms, with the neighborhood scoring above the national average and competitive among the 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Recent data also indicates year-over-year improvements in both property and violent offense rates, a constructive trend to monitor over additional periods for durability.
As with most urban core locations, conditions can vary by block and time of day. Investors should consider standard security practices and lighting upgrades as part of asset management to support tenant experience and retention.
Proximity to major corporate offices supports workforce renter demand and commute convenience, including CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and Activision Blizzard Studios.
- CBRE Group — commercial real estate services (3.1 miles) — HQ
- Microsoft — technology (3.2 miles)
- Reliance Steel & Aluminum — metals distribution (3.3 miles) — HQ
- Live Nation Entertainment — entertainment (3.3 miles)
- Activision Blizzard Studios — gaming & media (5.4 miles)
Built in 1991 with 67 units, the property is newer than much of the surrounding stock, offering competitive positioning versus older assets while leaving room for targeted modernization to enhance rents and reduce long-term capital surprises. Elevated home values and a high renter-occupied share at the neighborhood level point to a durable tenant base and support for occupancy, while amenity depth underpins leasing velocity. Based on CRE market data from WDSuite, neighborhood occupancy has improved in recent years and sits near national norms, aligning with a steady demand backdrop.
Demographic statistics aggregated within a 3-mile radius indicate household growth and shrinking household sizes, effectively expanding the renter pool even amid slight population decline. Forecasts call for further increases in households and incomes, reinforcing demand for well-located urban multifamily. Key considerations include rent-to-income levels that warrant active renewals management and attention to operating efficiencies to protect margins.
- 1991 vintage offers competitive positioning versus older local stock with potential for targeted value-add and system upgrades.
- High renter-occupied share and elevated ownership costs support rental demand depth and lease retention.
- Amenity-rich Urban Core location supports leasing velocity and tenant convenience.
- 3-mile radius shows household growth and rising incomes, reinforcing a larger tenant base and occupancy stability.
- Risk: rent-to-income levels and midrange occupancy require disciplined pricing, renewals strategy, and expense control.