| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 88th | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9632 Lucerne Ave, Culver City, CA, 90232, US |
| Region / Metro | Culver City |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9632 Lucerne Ave Culver City Multifamily Investment
This 32-unit property sits in a neighborhood ranking in the top 5% of Los Angeles metro areas for amenities and demographics, with commercial real estate analysis from WDSuite showing strong renter demand fundamentals in this urban core location.
Located in Culver City's urban core, this neighborhood ranks 33rd among 1,441 Los Angeles metro neighborhoods with an A+ rating. The area demonstrates exceptional amenity density, ranking in the 96th percentile nationally with over 52 restaurants per square mile and strong access to grocery stores, childcare, and parks. School ratings average 4.0 out of 5, placing the area in the 84th percentile nationally.
Demographics within a 3-mile radius show a stable, affluent renter base with median household income of $177,352 - ranking 96th among metro neighborhoods. The neighborhood maintains 60.9% of housing units as renter-occupied, significantly above the metro average and supportive of sustained rental demand. Current median contract rent of $2,573 reflects the area's premium positioning while maintaining reasonable affordability relative to local income levels.
The 1972 construction year positions this property among older building stock in a neighborhood where average construction dates to 1955. This vintage presents potential value-add opportunities through strategic renovations and unit improvements. Five-year demographic projections indicate household growth of 40.1% within the 3-mile radius, expanding the potential tenant base and supporting occupancy stability for well-positioned multifamily assets.
Neighborhood-level occupancy currently sits at 91.1%, though this has declined 5.8 percentage points over five years, warranting attention to local competitive dynamics. The area's high home values - with median prices of $1.48 million representing the 99th percentile nationally - reinforce rental demand by keeping many households in the multifamily market rather than pursuing homeownership.
The neighborhood demonstrates favorable safety metrics compared to regional and national benchmarks. Violent crime rates rank 87th among 1,441 Los Angeles metro neighborhoods, placing the area in the 87th percentile nationally for low violent crime. Notably, violent crime has decreased 77.2% year-over-year, ranking in the 96th percentile for improvement trends nationwide.
Property crime rates show a mixed profile, with current levels ranking 76th among metro neighborhoods (81st percentile nationally), though property crimes increased 52.7% over the past year. Investors should monitor these trends as part of ongoing asset management and consider how security measures may influence tenant retention and leasing velocity in this otherwise strong demographic market.
The property benefits from proximity to major corporate employers that support professional workforce housing demand, with technology, entertainment, and energy companies providing employment stability within commuting distance.
- Symantec — technology services (2.1 miles)
- AECOM — engineering & infrastructure services (3.2 miles) — HQ
- Activision Blizzard Studios — gaming & entertainment (3.4 miles)
- Activision Blizzard — gaming & entertainment (3.7 miles) — HQ
- Live Nation Entertainment — entertainment services (3.9 miles) — HQ
This 32-unit property built in 1972 offers value-add potential in one of Los Angeles' strongest multifamily submarkets. The neighborhood's A+ rating and top 5% demographic ranking provide fundamental support for rental demand, while the property's vintage creates opportunities for strategic improvements to capture higher rents. CRE market data from WDSuite confirms the area's 60.9% renter occupancy rate significantly exceeds metro norms, indicating sustained multifamily demand even as household growth of 40.1% over five years expands the tenant pool.
High local home values exceeding $1.48 million reinforce renter reliance on multifamily housing, while proximity to major employers like AECOM and Activision Blizzard supports professional workforce demand. However, investors should monitor the recent 5.8 percentage point decline in neighborhood occupancy and 52.7% increase in property crime when evaluating competitive positioning and operational strategies.
- Top 5% neighborhood demographics with A+ rating among 1,441 Los Angeles metro areas
- Value-add opportunity through 1972 vintage property improvements in premium location
- Strong renter demand supported by $1.48M median home values and 40.1% household growth
- Proximity to major corporate employers including multiple headquarters within 4 miles
- Risk factor: Recent occupancy decline and property crime increase require active management