| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 39th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 512 S Carondelet St, Los Angeles, CA, 90057, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1977 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
512 S Carondelet St, Los Angeles CA: Urban-Core Multifamily with Deep Renter Base
Positioned in Los Angeles’ Urban Core, the property benefits from a very high neighborhood renter concentration and stable occupancy, according to WDSuite’s CRE market data. Favorable location fundamentals and elevated ownership costs in the area support durable renter demand.
Livability drivers are strong for renters: the neighborhood ranks competitive among 1,441 Los Angeles-Long Beach-Glendale neighborhoods for overall quality (B rating) with dense access to restaurants, groceries, pharmacies, and cafés (nationally in the upper percentiles). Limited park access is a known trade-off for this urban location, but daily conveniences are within close reach.
Multifamily demand is underpinned by a very high share of renter-occupied housing units — top percentile nationally — creating a deep tenant base and supporting lease-up and renewal prospects. Neighborhood occupancy has held near the national midpoint and has edged higher in recent years, indicating steady performance rather than volatility.
Within a 3-mile radius, households have grown even as total population dipped slightly, pointing to smaller household sizes and a larger pool of potential renters. Projections call for further household increases over the next five years, which should expand the renter pool and help support occupancy stability. These dynamics are consistent with commercial real estate analysis that emphasizes tenant-base depth over raw population counts.
Home values are elevated relative to incomes locally (high national percentiles for value-to-income and home values), reinforcing reliance on multifamily rentals and supporting pricing power. At the same time, rent-to-income levels indicate some affordability pressure, suggesting asset management should emphasize retention and thoughtful renewal strategies.
Vintage and asset positioning: Built in 1977, the property is newer than much of the surrounding housing stock (which skews mid-20th century), offering relative competitiveness versus older buildings. Investors should still plan for ongoing system modernization and select renovations to sustain positioning.
Neighborhood safety metrics indicate conditions that are competitive among Los Angeles-Long Beach-Glendale neighborhoods, with overall safety sitting around the 70th percentile nationally (higher percentiles indicate safer conditions). Recent trends are constructive: one-year changes show sharp declines in both violent and property offense rates, placing the area among the strongest improvers nationally, based on WDSuite’s data. As always, safety can vary by block and time of day; investors typically underwrite to neighborhood-level patterns and multi-year trends rather than isolated incidents.
Proximity to a diverse employment base supports renter demand and commute convenience, led by real estate services, software, industrial distribution, entertainment, and materials firms.
- CBRE Group — real estate services (1.6 miles) — HQ
- Microsoft — software (1.6 miles)
- Reliance Steel & Aluminum — metals distribution (1.7 miles) — HQ
- Live Nation Entertainment — entertainment (4.6 miles)
- Avery Dennison — materials & labeling (6.6 miles) — HQ
512 S Carondelet St offers exposure to Los Angeles’ Urban Core with a notably deep renter base and steady neighborhood occupancy. Elevated ownership costs and dense daily amenities bolster multifamily demand, while the 1977 vintage positions the asset competitively versus older local stock, with potential to capture value through targeted system upgrades and interior improvements.
Within a 3-mile radius, household counts have risen despite modest population contraction, and forecasts point to further household growth — a setup that can expand the tenant base and support leasing stability. According to CRE market data from WDSuite, neighborhood safety has improved on a one-year basis and rent levels should be managed with an eye to retention given area rent-to-income dynamics.
- Urban-core location with dense amenities and transit access supporting year-round renter demand
- Very high neighborhood renter concentration provides depth for lease-up and renewals
- 1977 vintage is competitive versus older stock, with value-add potential via selective modernization
- Household growth within 3 miles expands the tenant base and supports occupancy stability
- Risk: elevated rent-to-income ratios and below-average school ratings warrant careful pricing and retention strategy