| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 39th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 716 S Carondelet St, Los Angeles, CA, 90057, US |
| Region / Metro | Los Angeles |
| Year of Construction | 2001 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
716 S Carondelet St Urban-Core Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base and steady leasing, with neighborhood occupancy holding relatively stable, according to WDSuite s CRE market data.
Positioned in Los Angeles s Urban Core, the property benefits from a neighborhood rated B and ranked 559 out of 1,441 metro neighborhoods competitive among Los Angeles sub-areas for day-to-day livability. Amenity access is a clear strength: grocery and restaurant densities rank in the top percentiles nationally, and pharmacies and cafes are also robust, which supports renter convenience and lease retention.
The area skews strongly renter-occupied (neighborhood tenure data), indicating substantial depth for multifamily demand and ongoing leasing velocity. Neighborhood occupancy is above the national midpoint, supporting income stability relative to many U.S. locations. Elevated home values relative to incomes signal a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can bolster pricing power when managed prudently.
Within a 3-mile radius, recent years show a slight population dip alongside an increase in total households, with forecasts pointing to further household growth and smaller average household sizes. For investors, that pattern often translates to a larger renter pool and diversified demand across unit types. School ratings track below national averages, which may matter for family-oriented renters but is less determinative for workforce and young professional segments.
Built in 2001, the asset is materially newer than the neighborhood s older housing stock (average vintage 1947). That relative youth can help the property compete against legacy buildings while still leaving room for targeted modernization or systems upgrades as part of a value-add plan. Access to parks is limited locally, so on-site or nearby private amenities may be an advantage in marketing. These dynamics align with investor takeaways commonly highlighted in commercial real estate analysis, with WDSuite s data indicating the submarket s renter demand drivers are anchored by amenity density and urban connectivity.
Neighborhood safety indicators are mixed but improving in ways investors should note. The area is competitive among Los Angeles neighborhoods (ranked 486 out of 1,441) and sits around the 70th percentile for safety compared with neighborhoods nationwide, suggesting comparatively favorable conditions at the national level. Year-over-year, both violent and property offense estimates show sharp declines, according to WDSuite s CRE data, which supports a constructive trend view. That said, violent offense positioning remains weaker than overall safety comparisons, so operators should continue standard security and lighting best practices and monitor local trends.
Proximity to major corporate offices underpins renter demand through short commutes for professional and administrative workforces. Nearby employment nodes include CBRE Group, Microsoft, Reliance Steel & Aluminum, Live Nation Entertainment, and Activision Blizzard Studios.
- CBRE Group - corporate offices (1.65 miles) - HQ
- Microsoft - corporate offices (1.69 miles)
- Reliance Steel & Aluminum - corporate offices (1.77 miles) - HQ
- Live Nation Entertainment - corporate offices (4.67 miles)
- Activision Blizzard Studios - corporate offices (6.83 miles)
716 S Carondelet St offers exposure to Los Angeles s Urban Core with a renter-heavy neighborhood, stable occupancy positioning above the national midpoint, and exceptional access to daily amenities that reinforce leasing velocity. Built in 2001, the asset is newer than much of the surrounding stock, improving competitive standing versus prewar and midcentury product while allowing room for targeted renovations to drive NOI. According to CRE market data from WDSuite, elevated ownership costs in the area help sustain renter reliance on multifamily housing, a tailwind for demand and pricing power when paired with disciplined lease management.
Investors should weigh below-average local school ratings, limited park access, and affordability pressure (high rent-to-income positioning) against the submarket s deep renter base, strong amenity density, and improving safety trends. Within a 3-mile radius, recent and forecast household increases alongside smaller average household sizes point to an expanding renter pool that can support occupancy stability and renewal performance through cycles.
- Renter-heavy neighborhood supports a deep tenant base and consistent leasing.
- 2001 vintage competes well versus older local stock with value-add potential.
- High-cost ownership market reinforces multifamily demand and pricing power.
- Amenity-rich urban location aids retention and day-to-day livability.
- Risks: below-average school ratings, limited parks, and rent-to-income pressure.