| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 93rd | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4077 Glencoe Ave, Marina Del Rey, CA, 90292, US |
| Region / Metro | Marina Del Rey |
| Year of Construction | 2003 |
| Units | 102 |
| Transaction Date | 2012-03-23 |
| Transaction Price | $37,494,000 |
| Buyer | EQR-Belle Fontaine LP |
| Seller | CLPF-Belle Fontaine LP |
4077 Glencoe Ave, Marina del Rey Multifamily Opportunity
Positioned in a high-income coastal Los Angeles neighborhood with a deep renter-occupied base, this asset benefits from strong tenant demand and premium amenities density. According to WDSuite’s CRE market data, elevated ownership costs in the area help sustain multifamily leasing fundamentals.
Marina del Rey’s Urban Core setting supports renter demand through convenience and lifestyle access. Cafe and restaurant density ranks competitive among 1,441 Los Angeles metro neighborhoods and sits in the top national percentiles, indicating consistent foot traffic and service options that bolster leasing appeal. Grocery access is also competitive locally, while pharmacy density is top quartile among metro peers, helping support daily-needs convenience for residents.
Neighborhood schools average 4.0 out of 5, placing the area above the metro median (121 of 1,441), and in the upper tiers nationally. Amenity strength and school quality reinforce livability factors that can aid retention, particularly for professional households.
Renter concentration is above the metro median (52.8% of housing units are renter-occupied), signaling a sizable tenant base. At the same time, the neighborhood’s occupancy level trails the metro median, so active leasing and renewal management remain important for stability. High household incomes and a low rent-to-income burden by national comparison support effective rents without overextending typical target renters.
Home values in the neighborhood are elevated relative to national benchmarks, which generally sustains reliance on multifamily housing and can support pricing power and lease retention. The property’s 2003 vintage is slightly older than the neighborhood’s average construction year (2006), suggesting modest capital planning and potential value-add or modernization opportunities to enhance competitive positioning versus newer stock.
Demographic indicators aggregated within a 3-mile radius show a modest population dip in recent years alongside growing households and smaller average household sizes—dynamics consistent with more single- and two-person renter households. Forward-looking projections point to an increase in households and incomes, which supports a larger tenant base and reinforces multifamily demand over the medium term.
Safety metrics trend favorable on a national basis. Violent offense rates are positioned in the upper national percentiles (safer relative to many neighborhoods nationwide), and both violent and property offenses show significant year-over-year declines, with improvement among the strongest nationally. These directional trends can support resident retention and leasing confidence, though investors should continue to monitor local conditions as they evolve.
Proximity to major tech, entertainment, and corporate employers underpins renter demand by shortening commutes and broadening the professional tenant pool. Nearby firms include Microsoft, Activision Blizzard, Abbott Laboratories, Symantec, and Southwest Airlines.
- Microsoft Offices The Reserves — software (1.4 miles)
- Activision Blizzard — video games (2.1 miles) — HQ
- Abbott Laboratories — healthcare (2.5 miles) — HQ
- Symantec — cybersecurity (3.1 miles)
- Southwest Airlines Counter — airline services (3.8 miles)
4077 Glencoe Ave combines scale (102 units) with location fundamentals indicative of durable renter demand: high household incomes, competitive amenity access, and an above-median renter-occupied share within the neighborhood. According to CRE market data from WDSuite, the area’s high-cost ownership market and low rent-to-income burden by national comparison reinforce the depth of the tenant base and support rent levels, even as neighborhood occupancy trends warrant attentive leasing and renewal strategies.
Built in 2003, the asset is slightly older than the neighborhood’s average vintage, pointing to manageable capital planning and selective value-add or modernization to sharpen competitiveness versus newer deliveries. Looking ahead, 3-mile demographic projections indicate household growth and rising incomes, which can expand the renter pool and support occupancy stability and pricing power over the medium term.
- Coastal Los Angeles location with strong amenities and schools supports retention and lease-up
- High-income renter base and elevated ownership costs sustain multifamily demand
- 2003 vintage offers value-add and modernization angles to compete with newer stock
- Household growth within 3 miles expands the tenant base and supports occupancy stability
- Risk: neighborhood occupancy sits below the metro median, requiring focused leasing and renewal management