| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 73rd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5531 Corteen Pl, Valley Village, CA, 91607, US |
| Region / Metro | Valley Village |
| Year of Construction | 1984 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5531 Corteen Pl Valley Village Multifamily Investment
This 31-unit property built in 1984 benefits from strong neighborhood fundamentals, with 96.4% occupancy rates and a 75.8% renter share that ranks in the top 15% nationally according to CRE market data from WDSuite.
Valley Village presents compelling fundamentals for multifamily investment, with the neighborhood ranking in the top quartile among 1,441 Los Angeles metro neighborhoods overall. The area maintains a 96.4% occupancy rate and features a robust rental market where 75.8% of housing units are renter-occupied, placing it in the 98th national percentile for rental demand depth.
The property's 1984 construction year aligns with the neighborhood average of 1978, indicating potential value-add opportunities through strategic renovations and unit improvements. Median contract rents of $1,805 have grown 32.8% over five years, while the neighborhood's $15,132 average NOI per unit ranks in the 94th national percentile, demonstrating strong income-generating potential.
Demographics within a 3-mile radius show a stable tenant base with 253,557 residents and household income growth of 85.5% over five years to a median of $83,955. Projections indicate continued rental demand with households expected to increase 36.9% through 2028, expanding the renter pool to support occupancy stability. The area's high home values of $1.1 million and elevated ownership costs sustain rental demand by keeping households in the multifamily market.
Amenity density supports tenant retention with 7.97 grocery stores per square mile (98th national percentile) and strong restaurant and cafe access. While school ratings average 2.66 out of 5, the neighborhood's urban core designation and proximity to major employment centers maintain appeal for working professionals and households prioritizing location convenience.
The neighborhood demonstrates improving safety trends with property crime rates declining 84.6% year-over-year, ranking in the 99th national percentile for crime reduction. Current property offense rates of 178.4 per 100,000 residents place the area above metro median among Los Angeles neighborhoods, while violent crime rates of 22.3 per 100,000 residents also show significant year-over-year improvement with a 92.9% decline.
These safety improvements support tenant retention and property values, with the neighborhood's overall crime ranking placing it in the 78th national percentile. The positive trajectory in both property and violent crime metrics indicates strengthening fundamentals that can enhance long-term investment stability and resident satisfaction.
The Valley Village area benefits from proximity to major entertainment and corporate employers that support diverse workforce housing demand, with several Fortune 500 headquarters within reasonable commuting distance.
- Radio Disney — media and entertainment (3.7 miles)
- Charter Communications — telecommunications (3.8 miles)
- Disney — entertainment and media (4.5 miles) — HQ
- Live Nation Entertainment — entertainment services (5.9 miles)
- Activision Blizzard Studios — gaming and technology (7.2 miles)
This Valley Village property offers strong multifamily fundamentals anchored by exceptional rental market depth and occupancy stability. The neighborhood's 75.8% renter share ranks in the 98th national percentile, while 96.4% occupancy rates and $15,132 average NOI per unit demonstrate consistent income performance. The 1984 construction provides value-add renovation opportunities to capture upside in a market where rents have grown 32.8% over five years.
Demographic projections support sustained demand with household growth of 36.9% expected through 2028, expanding the renter pool within the 3-mile radius. High home values of $1.1 million reinforce rental demand by maintaining elevated ownership costs, while proximity to major entertainment employers including Disney headquarters provides workforce housing appeal according to commercial real estate analysis.
- Top quartile neighborhood ranking with 96.4% occupancy rates and strong NOI performance
- Value-add potential through 1984 vintage property improvements in high-rent growth market
- Projected 36.9% household growth through 2028 expanding tenant base
- High ownership costs sustaining rental demand in competitive Los Angeles submarket
- Risk consideration: School ratings below metro average may limit family tenant appeal