| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 73rd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5416 Corteen Pl, Valley Village, CA, 91607, US |
| Region / Metro | Valley Village |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 2003-03-24 |
| Transaction Price | $2,300,000 |
| Buyer | 5416 CORTEEN LLC |
| Seller | IEC DEVELOPMENT CORP |
5416 Corteen Pl Valley Village Multifamily Position
Neighborhood occupancy in Valley Village has been consistently strong, supporting stable rent rolls according to WDSuite’s CRE market data, with renter demand reinforced by a high-cost ownership market.
Valley Village scores well on livability for renters, with amenity access that is competitive among Los Angeles neighborhoods (111th of 1,441 overall). Cafe and grocery density sit in the top quartile nationally, indicating daily convenience that can aid leasing velocity and resident retention.
The housing stock skews renter-occupied, with roughly three-quarters of units renter-occupied at the neighborhood level. For multifamily investors, this elevated renter concentration points to a deeper tenant base and supports demand durability, particularly for stabilized product.
Occupancy at the neighborhood level has trended healthy and above many national peers, while median contract rents have advanced over the last five years. In a market where median home values are elevated and value-to-income ratios rank near the top nationally, the ownership cost backdrop tends to sustain reliance on multifamily housing, which can underpin pricing power and lease retention.
Within a 3-mile radius, demographics show a modest population pullback recently but an anticipated return to growth alongside a projected increase in households and a decline in average household size. For investors, that mix suggests a larger renter pool over time and supports occupancy stability, even as unit mix and leasing strategies may need to accommodate smaller households. Based on commercial real estate analysis from WDSuite, neighborhood income trends have strengthened, aligning with the area’s rent profile.
The asset’s 1985 vintage is slightly newer than the neighborhood average, which can enhance competitive positioning versus older stock. Even so, prudent capital planning for systems modernization and selective renovations can help capture value-add upside and support long-term performance.
Safety indicators for the neighborhood are stronger than many areas nationwide, with crime metrics positioned in the upper national percentiles. Compared with Los Angeles peers, the neighborhood is competitive, and recent trend data show notable improvement in both property and violent offense rates over the last year.
While no submarket is risk-free, the comparative safety profile can support resident retention and leasing, especially for workforce and professional renter cohorts. As always, investors should evaluate block-level patterns during diligence and monitor local trends over time.
Nearby media, entertainment, and telecom employers anchor a diverse employment base that supports commuter convenience and renter demand for Valley Village. The list below reflects prominent offices and headquarters within a short drive.
- Radio Disney — media & entertainment (3.6 miles)
- Charter Communications — telecom & cable (3.9 miles)
- Disney — media & entertainment (4.5 miles) — HQ
- Live Nation Entertainment — live entertainment offices (6.6 miles) — HQ
- AECOM — engineering & infrastructure (7.7 miles) — HQ
5416 Corteen Pl offers investors a 24-unit, mid-1980s multifamily asset positioned in a renter-heavy pocket of Valley Village. Neighborhood occupancy is healthy and rent growth has been positive, while elevated ownership costs in Los Angeles reinforce renter reliance on multifamily. According to CRE market data from WDSuite, amenity access ranks competitively within the metro and aligns with top-quartile national standings for cafes and groceries, supporting leasing and retention.
Demographic data aggregated within a 3-mile radius point to mixed near-term population trends but a projected increase in households and smaller average household sizes, which can expand the renter pool and support steady absorption. The 1985 vintage is slightly newer than the neighborhood average, offering relative competitiveness versus older stock; targeted system upgrades and light renovations may unlock additional value and operating efficiency.
- Renter-heavy neighborhood and healthy occupancy support demand depth and leasing stability.
- Amenity-rich location with top-quartile national standings for cafes and groceries aids retention.
- High-cost ownership market in Los Angeles sustains multifamily reliance and pricing power potential.
- 1985 vintage offers competitive positioning; selective upgrades can capture value-add upside.
- Risks: limited park access locally and mixed near-term population trends warrant asset-specific diligence.