| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 84th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1320 Venice Blvd, Venice, CA, 90291, US |
| Region / Metro | Venice |
| Year of Construction | 1987 |
| Units | 31 |
| Transaction Date | 2003-03-20 |
| Transaction Price | $4,600,000 |
| Buyer | VENICE VIEW LLC |
| Seller | 1320 VENICE PARTNERS LLC |
1320 Venice Blvd Venice Multifamily Investment
This 31-unit property sits in a neighborhood where median household income ranks in the 79th percentile nationally and renter-occupied units represent 56% of housing tenure, supporting sustained rental demand in a high-value coastal market.
1320 Venice Blvd is located in an Urban Core neighborhood rated A- among 1,441 neighborhoods in the Los Angeles-Long Beach-Glendale metro. According to CRE market data from WDSuite, the neighborhood ranks in the 84th percentile nationally for demographics and 80th percentile for housing fundamentals. Within a 3-mile radius, the median household income is $118,699—79th percentile nationally—and forecast to grow 30% by 2028, expanding the renter base and supporting lease retention in a market where 65% of housing units are renter-occupied.
Neighborhood-level median contract rent stands at $2,234, ranking in the 95th percentile nationally, with 40% growth over the past five years. Despite elevated rents, the area maintains a 56% renter-occupied share (92nd percentile nationally), reflecting strong rental demand reinforced by median home values of $1.6 million (99th percentile nationally). These ownership costs sustain reliance on rental housing and limit competition from for-sale inventory, bolstering tenant retention and pricing power for multifamily operators.
Built in 1987, the property is slightly newer than the neighborhood average construction year of 1970 (34th percentile nationally), positioning it competitively within an aging building stock while likely requiring moderate capital planning for systems refresh over the investment horizon. Neighborhood-level occupancy is 89.3%, though this figure has declined 8.2 percentage points over five years, ranking in the 42nd percentile nationally—a signal that absorption dynamics warrant close lease management and competitive positioning.
Amenity density is robust: 6.2 grocery stores per square mile (97th percentile nationally), 3.1 childcare facilities per square mile (96th percentile), and an amenity rank in the 60th percentile nationally. Average school ratings of 3.4 out of 5 (71st percentile nationally) provide adequate appeal for family renters. The combination of high-income demographics, dense urban services, and constrained ownership access underpins durable multifamily demand, though investors should monitor occupancy trends and lease renewal rates closely.
The neighborhood's crime rank of 328 out of 1,441 metro neighborhoods places it in the 77th percentile nationally, indicating safer conditions relative to most U.S. neighborhoods. Property offense rates are estimated at 190 incidents per 100,000 residents (57th percentile nationally), while violent offense rates stand at 23 per 100,000 (56th percentile nationally)—both near or slightly above national medians.
Importantly, both property and violent offense rates declined sharply year-over-year (down 80% and 86%, respectively), ranking in the 98th percentile nationally for improvement. While past trends do not guarantee future performance, the directional improvement supports tenant perception and retention in a competitive coastal submarket. Investors should continue to monitor block-level dynamics and coordinate with local property management on security protocols.
The property benefits from proximity to a diverse base of corporate headquarters and offices that support workforce housing demand and commute convenience for professional renters.
- Activision Blizzard — technology & gaming (1.7 miles) — HQ
- Microsoft Offices The Reserves — technology offices (1.9 miles)
- Abbott Laboratories — healthcare & medical devices (2.1 miles) — HQ
- Symantec — cybersecurity offices (3.5 miles)
- Southwest Airlines Counter — airline operations (4.3 miles)
1320 Venice Blvd offers exposure to a high-income, renter-concentrated Urban Core submarket where elevated ownership costs—median home values exceed $1.6 million—sustain multifamily demand and limit for-sale competition. Within a 3-mile radius, median household income of $118,699 ranks in the 79th percentile nationally and is forecast to rise 30% by 2028, expanding the professional renter base. Neighborhood-level median rent of $2,234 (95th percentile nationally) reflects strong pricing power, though occupancy at 89.3% has softened modestly, signaling the importance of competitive positioning and proactive lease management.
Built in 1987, the property is newer than most neighborhood stock (average 1970) and benefits from proximity to major corporate employers including Activision Blizzard (1.7 miles) and Abbott Laboratories (2.1 miles), supporting tenant demand from knowledge workers. Average NOI per unit in the neighborhood stands at $23,398 (99th percentile nationally), underscoring the submarket's institutional quality and income potential. Crime trends have improved sharply year-over-year (98th percentile nationally for decline), enhancing tenant appeal. Investors should weigh the area's exceptional income and rent fundamentals against occupancy softness and the capital planning requirements typical of properties approaching 40 years of age.
- High-income renter base with median household income in 79th percentile nationally and 30% forecast growth by 2028
- Elevated home values ($1.6M median, 99th percentile) sustain rental demand and limit ownership competition
- Proximity to corporate headquarters (Activision Blizzard, Abbott Laboratories) supports professional tenant demand
- Neighborhood NOI per unit of $23,398 ranks 99th percentile nationally, reflecting strong income potential
- Risk: Neighborhood occupancy at 89.3% has declined 8.2 points over five years; lease management and competitive positioning are critical