| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 62nd | Good |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 510 Landfair Ave, Los Angeles, CA, 90024, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2013 |
| Units | 36 |
| Transaction Date | 2013-08-01 |
| Transaction Price | $23,800,000 |
| Buyer | Regents of University of |
| Seller | LIVSORAYA LLC |
510 Landfair Ave Los Angeles Multifamily Investment
2013 vintage with larger unit footprints positions this 36-unit asset competitively in an Urban Core pocket where elevated ownership costs sustain renter reliance, according to CRE market data from WDSuite. Neighborhood-level occupancy trends should be monitored, but renter demand depth and amenity access support long-term leasing potential.
The property sits in a high-amenity Urban Core location within the Los Angeles-Long Beach-Glendale metro. Amenity access is competitive among 1,441 metro neighborhoods (amenity rank near the top decile), with neighborhood measures for restaurants, cafes, groceries, and pharmacies comparing favorably to national peers (many in the mid-to-high 90s percentiles). This concentration of daily-needs retail and dining helps support leasing velocity and resident retention for multifamily assets.
Relative positioning within the metro is strong overall (top quartile among 1,441 Los Angeles-Long Beach-Glendale neighborhoods by composite rating). At the same time, neighborhood occupancy is lower than national norms, and investors should underwrite to market-level lease-up and renewal dynamics rather than assuming property-stabilized performance. These occupancy references reflect neighborhood measures, not the subject property.
Housing tenure skews toward renter-occupied units at the neighborhood level (renter concentration sits in the low-90s national percentile), indicating a deeper tenant base that can support steady demand for apartments. Median contract rents in the neighborhood track toward the high end nationally, reinforcing the need for attentive lease management and value articulation at renewal.
Within a 3-mile radius, demographics point to a sizable, higher-income renter pool and continued demand signals. Households have been stable to modestly expanding and are projected to increase further over the next five years, which supports occupancy stability and absorption. Elevated home values locally compare to the top tier nationally, which typically sustains rental demand and can provide pricing power for well-positioned properties.
Safety indicators are mixed when viewed against national benchmarks. Overall crime sits modestly better than the national midpoint, while violent-offense measures are below the national median and property-related offenses are comparatively elevated. These figures describe neighborhood conditions rather than the subject property.
Recent trend data shows notable year-over-year improvement in both violent and property offense rates, outpacing many neighborhoods nationally. Investors should continue to monitor local trends and property-level controls, using regional context rather than block-level conclusions.
- Occidental Petroleum — energy (0.7 miles) — HQ
- AECOM — engineering & infrastructure (2.1 miles) — HQ
- Activision Blizzard Studios — entertainment & gaming (2.9 miles)
- Live Nation Entertainment — entertainment (3.0 miles) — HQ
- Activision Blizzard — gaming (3.4 miles) — HQ
A concentration of corporate offices within a short commute underpins renter demand and supports retention for workforce and professional tenants. Nearby employers include energy, engineering, entertainment, and gaming firms listed below.
Built in 2013, the property offers a newer construction profile versus a neighborhood average vintage from the 1970s, which supports competitive positioning against older stock. Larger average unit sizes create potential appeal to renters seeking space, while the area’s elevated home values tend to sustain reliance on multifamily rentals. According to CRE market data from WDSuite, neighborhood renter concentration is high and amenity access ranks competitively within the metro, both of which can support absorption and rent durability.
Underwriting should account for neighborhood occupancy running below national norms and for rent-to-income pressures common in high-cost ownership markets. However, within a 3-mile radius, households are projected to grow meaningfully, pointing to a larger tenant base that can help support long-run leasing stability. As systems age, targeted modernization can further differentiate the asset relative to older comparables.
- 2013 construction offers competitive positioning versus older neighborhood stock
- Large average unit sizes support renter appeal and retention
- High neighborhood renter concentration and strong amenity access support demand
- Elevated ownership costs in the area reinforce rental demand and pricing power
- Risk: neighborhood occupancy below national norms and rent-to-income pressure warrant conservative underwriting