| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 17th | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 960 W 62nd Pl, Los Angeles, CA, 90044, US |
| Region / Metro | Los Angeles |
| Year of Construction | 1995 |
| Units | 79 |
| Transaction Date | 2011-02-09 |
| Transaction Price | $6,362,784 |
| Buyer | THE LOS ANGELES HOUSING DEPARTMENT |
| Seller | PLAZA VERMONT LIMITED PARTNERSHIP |
960 W 62nd Pl Los Angeles Multifamily Investment
Neighborhood occupancy in the mid‑90s and a deep renter‑occupied housing base support durable demand, according to WDSuite’s CRE market data. The location’s urban amenities and renter concentration position the asset for steady leasing fundamentals.
This Urban Core location in Los Angeles offers day‑to‑day convenience that supports renter retention. Grocery access is strong (high national percentile), with restaurants and pharmacies also plentiful relative to neighborhoods nationwide. Park access is limited, which may temper outdoor amenity appeal, but it can be offset at the property level with on‑site or nearby private amenities.
At the neighborhood level, occupancy is Above metro median among 1,441 Los Angeles neighborhoods, indicating stable absorption and fewer prolonged vacancies. The renter‑occupied share is high, reflecting a deep tenant base for multifamily leasing rather than ownership turnover. Median home values are elevated for the area, which tends to sustain reliance on rental housing and can support pricing power when managed carefully.
Vintage matters for competitive positioning: the property was built in 1995 in a neighborhood with older average construction. Being newer than much of the local stock can reduce near‑term capital intensity versus pre‑war assets while still leaving room for targeted modernization (systems, common areas) to enhance rentability.
Demographics within a 3‑mile radius show modest population growth in the prior period and a larger increase in households, with projections indicating smaller household sizes ahead. A shift toward more households—despite some population softening—typically enlarges the renter pool for well‑managed units and can support occupancy stability. Neighborhood NOI per unit trends are above national medians, reinforcing the area’s income‑generation potential for efficient operators.
Affordability requires active lease management. Elevated ownership costs bolster rental demand, but rent‑to‑income metrics indicate some pressure for residents. Operators who focus on renewals, unit mix alignment, and measured renovations can balance retention with rent growth.
Safety conditions are competitive among Los Angeles neighborhoods (ranked within the stronger 40% of 1,441 metro neighborhoods), with overall safety standing above the national median. According to WDSuite, violent‑offense measures sit below national norms while property‑offense levels track near the national midpoint. Notably, both violent and property categories show substantial year‑over‑year improvement, which supports a constructive near‑term trend without implying block‑level outcomes.
Proximity to major employers supports a steady renter pipeline and commute convenience, particularly to corporate services and technology roles at CBRE Group, Reliance Steel & Aluminum, Microsoft, Symantec, and Southwest Airlines.
- CBRE Group — real estate services (5.2 miles) — HQ
- Reliance Steel & Aluminum — metals & industrial distribution (5.3 miles) — HQ
- Microsoft — technology offices (5.3 miles)
- Symantec — cybersecurity offices (5.6 miles)
- Southwest Airlines Counter — airline operations (6.8 miles)
960 W 62nd Pl presents a workforce‑oriented location with stable neighborhood occupancy and a deep renter‑occupied housing base. The asset’s 1995 construction is newer than much of the surrounding stock, offering relative competitiveness versus older properties while leaving room for targeted value‑add upgrades. Elevated home values in the area tend to reinforce renter reliance on multifamily housing, aiding renewal strategy and pricing discipline. According to CRE market data from WDSuite, neighborhood occupancy trends are above the metro median, and amenity access—particularly groceries and daily needs—supports leasing durability.
Forward‑looking fundamentals are characterized by a shift toward more households within a 3‑mile radius and smaller household sizes, expanding the potential renter pool even if population growth moderates. Operators should balance renovation scope with income positioning, given rent‑to‑income dynamics, limited park access, and school quality signals that warrant careful underwriting.
- Neighborhood occupancy above metro median supports leasing stability
- 1995 vintage is competitively newer than area stock with selective value‑add potential
- Elevated ownership costs reinforce multifamily demand and renewal leverage
- 3‑mile trends point to more households and a broader renter pool
- Risks: affordability pressure, limited park access, and uneven school ratings