| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 60th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 524 Venice Way, Inglewood, CA, 90302, US |
| Region / Metro | Inglewood |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2015-05-19 |
| Transaction Price | $6,600,000 |
| Buyer | CHLOE S APARTMENTS LLC |
| Seller | BAGNARD COMPANY LLC |
524 Venice Way Inglewood Multifamily Investment Opportunity
Neighborhood renter demand is deep and sustained, with stable occupancy levels in the surrounding area according to WDSuite s CRE market data. High ownership costs in this part of Los Angeles support multifamily leasing durability for well-located assets.
Situated in Inglewood s Urban Core, the property benefits from strong day-to-day convenience: the neighborhood s broader amenity access sits in the upper quartile nationally, with especially dense grocery, caf e9, and dining options. Park access trends above national norms, while limited nearby pharmacies may require residents to travel slightly farther for prescriptions a manageable tradeoff given overall retail depth.
For multifamily investors, the key demand signal is tenure: roughly three-quarters of housing units in the neighborhood are renter-occupied, placing it among the highest renter concentrations metro-wide. That depth of renter households supports a broad tenant base and helps stabilize leasing through cycles, even as neighborhood occupancy has eased modestly in recent years from high levels.
Home values in the surrounding area are elevated by national standards, and the value-to-income relationship is high for Los Angeles. This high-cost ownership context tends to reinforce reliance on multifamily housing, aiding pricing power and lease retention when product is competitive. At the same time, rent-to-income levels point to some affordability pressure, suggesting that disciplined renewal strategies and amenity-driven value propositions matter for retention.
Demographic statistics are aggregated within a 3-mile radius: households have expanded recently and are projected to grow further over the next five years, even as average household size trends lower. This implies a larger pool of renting households over time, which can support occupancy stability and absorption for well-managed communities.
Based on WDSuite s CRE market data, the neighborhood s overall safety profile is competitive among Los Angeles-Long Beach-Glendale neighborhoods (252 of 1,441 overall), with crime conditions that compare favorably to many areas nationwide (upper-third national standing). Within that mix, violent incidents track near the national middle, while property incidents have historically been more active than national averages.
Recent trend data show notable improvement: both violent and property offense rates have declined sharply year over year, placing the area in a strong improvement cohort nationally. Investors should view the trend as constructive for resident perception and retention, while maintaining prudent onsite safety and lighting standards appropriate for an urban core location.
The location taps into a diversified Westside-South Bay employment base that supports renter demand through short commutes and industry breadth. Notable nearby employers include technology, consumer products, and transportation operations referenced below.
- Symantec software & cybersecurity (1.8 miles)
- Southwest Airlines Counter air travel operations (2.7 miles)
- Microsoft Offices The Reserves technology offices (3.6 miles)
- Mattel consumer products (3.9 miles) HQ
- Activision Blizzard video games & media (6.1 miles) HQ
Built in 1987, the 36-unit property at 524 Venice Way offers relatively newer vintage versus the neighborhood s older housing stock, helping it compete against 1970s-era buildings while still allowing room for targeted system upgrades or interior modernization. According to CRE market data from WDSuite, the surrounding neighborhood shows stable occupancy and one of the metro s highest renter concentrations, indicating a deep tenant base. Elevated ownership costs locally further reinforce the role of professionally managed apartments in meeting demand.
Unit sizes average about 1,035 square feet, positioning the asset for retention with households seeking more space. Within a 3-mile radius, households have increased and are projected to expand further, with incomes trending higher and household sizes edging down a setup that typically enlarges the renter pool and supports occupancy stability. The submarket s strong amenity access is an additional leasing advantage, though investors should underwrite for affordability pressure and school quality variability when calibrating rent growth and renewal strategies.
- Newer 1987 vintage versus area average supports competitive positioning with potential value-add upside
- High renter-occupied share indicates deep tenant base and resilient leasing
- Elevated home values in Los Angeles bolster sustained demand for rental housing
- Strong neighborhood amenity access (grocery, dining, parks) aids retention and absorption
- Risks: rent-to-income pressure, uneven school ratings, and urban-core safety considerations warrant prudent underwriting