| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 73rd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5331 Corteen Pl, Valley Village, CA, 91607, US |
| Region / Metro | Valley Village |
| Year of Construction | 2003 |
| Units | 67 |
| Transaction Date | 1999-08-05 |
| Transaction Price | $1,080,000 |
| Buyer | CORTEEN VILLAGE LLC |
| Seller | HOWARD BETTY R |
5331 Corteen Pl Valley Village Multifamily Investment
This 67-unit property benefits from Valley Village's top quartile neighborhood rating among 1,441 Los Angeles metro neighborhoods and 96% occupancy rates. The 68% renter-occupied housing stock supports consistent tenant demand according to WDSuite's CRE market data.
Valley Village ranks in the top quartile among 1,441 Los Angeles metro neighborhoods with an A rating, supported by strong amenity density and demographic fundamentals. The neighborhood demonstrates exceptional grocery access with nearly 8 stores per square mile, ranking 123rd metro-wide, alongside robust cafe and restaurant concentrations that enhance tenant appeal and retention.
Built in 2003, the property is notably newer than the neighborhood's 1978 average construction year, positioning it competitively among area housing stock with reduced near-term capital expenditure needs. Neighborhood-level occupancy maintains 96% stability with modest growth over recent years, indicating consistent absorption and renewal activity for multifamily assets.
Demographics within a 3-mile radius show population stability with 245,000 residents, while household formation projects 37% growth to nearly 139,000 households by 2028, expanding the potential renter pool significantly. The area's 68% renter share substantially exceeds national averages, creating a mature rental market with established tenant demand patterns.
Median household incomes of $86,000 align with the property's rental positioning, though home values averaging $1.1 million create substantial barriers to ownership that can support rental market retention. Contract rents have grown 33% over five years to $1,805 median, reflecting pricing power within this urban core submarket.
Valley Village demonstrates above-average safety metrics, ranking 306th among 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 78th national percentile. Both violent and property crime rates have declined substantially over the past year, with property offenses dropping 85% and violent incidents down 93%, indicating improving neighborhood conditions.
Current property crime rates of 178 incidents per 100,000 residents rank competitively within the metro area, while violent crime remains relatively contained at 22 incidents per 100,000 residents. These trends support tenant retention and can contribute to stable occupancy patterns for multifamily properties in the area.
Valley Village benefits from proximity to major entertainment and technology employers that drive regional workforce demand, with several Fortune 500 companies maintaining significant operations within reasonable commuting distance.
- Radio Disney — media and entertainment (3.6 miles)
- Charter Communications — telecommunications (4.0 miles)
- Disney — entertainment and media (4.5 miles) — HQ
- Live Nation Entertainment — live entertainment (5.7 miles) — HQ
- Activision Blizzard Studios — gaming and technology (6.9 miles)
This Valley Village asset capitalizes on strong neighborhood fundamentals, including top quartile metro ranking and 96% occupancy stability that supports consistent cash flow performance. The property's 2003 vintage provides competitive positioning relative to the area's older housing stock while minimizing immediate capital requirements, and projected 37% household growth through 2028 indicates expanding tenant demand within the 3-mile radius.
The submarket's 68% renter concentration creates a mature rental environment, while $1.1 million median home values maintain substantial ownership barriers that support long-term rental demand. According to multifamily property research from WDSuite, the combination of employment proximity to major entertainment companies and strong amenity access enhances tenant retention potential for well-positioned assets.
- Top quartile neighborhood rating among 1,441 Los Angeles metro areas with 96% occupancy stability
- 2003 construction year provides competitive advantage over neighborhood's 1978 average vintage
- Projected 37% household growth through 2028 within 3-mile radius supports expanding tenant base
- Proximity to Disney, Charter Communications, and other major employers within 7-mile radius
- Risk consideration: High home values may face correction pressure affecting rental demand dynamics