| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 91st | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4215 Mary Ellen Ave, Studio City, CA, 91604, US |
| Region / Metro | Studio City |
| Year of Construction | 1973 |
| Units | 22 |
| Transaction Date | 1997-03-20 |
| Transaction Price | $464,500 |
| Buyer | PB LIVING TRUST |
| Seller | ADELHEID CODER |
4215 Mary Ellen Ave Studio City Multifamily Investment
In a high-cost ownership pocket of Studio City, renter demand is supported by strong neighborhood incomes and upper-tier rents nationally, according to WDSuite’s CRE market data. The submarket’s stability favors well-managed assets targeting lease retention over aggressive lease-up.
Studio City’s neighborhood fundamentals are investor-friendly: cafes and restaurants are dense for the area (cafes rank near the top nationally and restaurants test well above average), while parks register in a strong national percentile. Day-to-day retail like groceries and pharmacies is thinner inside the immediate neighborhood, which can modestly lengthen resident trips but also concentrates demand around existing corridors.
The property’s 1973 vintage is older than the neighborhood’s average construction year (1982 across 1,441 Los Angeles metro neighborhoods), pointing to potential value-add and capital planning needs. For investors, modernizing interiors, common areas, and building systems can sharpen the competitive set against newer supply while supporting rent positioning.
Within a 3-mile radius, renter-occupied housing accounts for a majority of units, indicating a deep tenant base for multifamily. Population has been relatively steady recently, and WDSuite data indicates households in the same 3-mile radius are projected to increase over the next five years, implying a larger renter pool and support for occupancy stability.
Ownership costs are elevated (home values sit in a very high national percentile), which tends to reinforce reliance on multifamily rentals. At the same time, incomes benchmark high and rent-to-income is moderate for the area, which can aid lease retention and limit affordability pressure compared with many coastal submarkets.
Relative to neighborhoods nationwide, this Studio City location trends in the safer direction, landing in the top quartile nationally on overall and violent offense comparisons based on WDSuite data. For context, it also sits competitively among Los Angeles neighborhoods, with recent readings indicating improvement in both property and violent offense rates year over year.
As always, safety can vary by block and over time; investors should underwrite to current conditions and monitor trend lines alongside property-level security measures and resident feedback.
Proximity to entertainment and media employers underpins renter demand and commute convenience for workforce and creative professionals. Nearby anchors include Radio Disney, Live Nation, Disney, Activision Blizzard Studios, and Charter Communications.
- Radio Disney — media offices (4.5 miles)
- Live Nation Entertainment — entertainment HQ & offices (5.1 miles) — HQ
- Disney — studios & corporate (5.5 miles) — HQ
- Activision Blizzard Studios — gaming & media (5.6 miles)
- Charter Communications — telecommunications offices (5.7 miles)
This 22-unit, 1973-vintage asset sits in a high-income Studio City neighborhood where elevated ownership costs bolster multifamily demand and a majority-renter 3-mile radius supports depth of the tenant base. According to CRE market data from WDSuite, neighborhood rents benchmark in the upper national tier and occupancy has held within a stable band, suggesting a leasing environment that rewards operational execution over heavy concessions.
The vintage is older than the local average, which flags capital planning but also creates clear value-add pathways through unit renovations, common-area upgrades, and system modernization. With strong employer proximity in entertainment and media and household growth projected within 3 miles, the location offers durable demand drivers with manageable affordability pressure for professionally managed communities.
- High-income, renter-heavy 3-mile trade area supports tenant depth and retention
- Upper-tier rent positioning nationally with stable neighborhood occupancy
- 1973 vintage offers value-add upside via renovations and system upgrades
- Demand supported by nearby entertainment and media employers
- Risks: older building capex, thinner grocery/pharmacy options nearby, and normal leasing volatility