| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 84th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1140 Venice Blvd, Venice, CA, 90291, US |
| Region / Metro | Venice |
| Year of Construction | 1986 |
| Units | 40 |
| Transaction Date | 2018-07-28 |
| Transaction Price | $14,000,000 |
| Buyer | VENICE AT LINCOIN LLC |
| Seller | DARLING DAVID D |
1140 Venice Blvd, Venice CA Multifamily Investment
Positioned in Venice’s Urban Core with steady renter demand dynamics, this 40‑unit asset benefits from high-cost homeownership nearby and proximity to major employers, according to CRE market data from WDSuite. Neighborhood fundamentals support pricing power with careful lease management and amenity-driven retention.
Venice’s Urban Core setting provides daily convenience and renter appeal: strong access to groceries (top national tier) and parks supports livability, while restaurants are plentiful. By contrast, pharmacies and cafés are thinner locally, which places a premium on property-level amenities to differentiate. The neighborhood carries an A- rating and ranks 218 out of 1,441 Los Angeles metro neighborhoods — top quartile among metro peers — signaling competitive fundamentals for multifamily.
Vintage matters: built in 1986, the property is newer than the neighborhood’s average 1970 construction year. For investors, that positioning can improve competitive standing versus older stock, though systems are approaching ages where targeted modernization and common-area refreshes may enhance leasing and retention.
Tenure patterns indicate depth of demand: within a 3‑mile radius, an estimated 65% of housing units are renter‑occupied. This renter concentration expands the local tenant base and can support occupancy durability for well‑positioned product. Neighborhood occupancy is 89.3% (below metro median based on rank 1,273 of 1,441), so thoughtful operations and property‑level differentiation remain important for stable performance.
Affordability and incomes reinforce multifamily reliance. Neighborhood median home values are elevated (99th percentile nationally) with a very high value‑to‑income ratio (top national tier), conditions that tend to sustain renter reliance on multifamily housing and support pricing power for well‑maintained assets. At the same time, a rent‑to‑income ratio near the neighborhood level of 0.27 suggests manageable but present affordability pressure, implying the need for disciplined lease management and unit‑level value delivery.
Demographics within a 3‑mile radius show a modest population dip in recent years alongside growth in households and smaller average household sizes. Forecasts point to rising household counts over the next five years, which would expand the renter pool and support occupancy stability for properties offering modern finishes and convenient access to employment corridors.
Safety indicators for the neighborhood are comparatively favorable versus many Los Angeles areas. Overall crime ranks 328 out of 1,441 metro neighborhoods, which is above the metro median and in the 77th percentile nationally — a positive comparative standing for investors evaluating tenant retention and leasing velocity.
Recent trend signals are also constructive: estimated violent and property offense rates both show sharp year‑over‑year improvements (both in the 98th percentile for improvement nationally). Current estimated levels sit around the national mid‑range (violent and property offense percentiles in the mid‑50s), suggesting conditions that are competitive among metro peers without indicating block‑level guarantees. As always, investors should pair these neighborhood trends with property‑specific security design and management practices.
Nearby corporate offices anchor a diversified employment base that supports renter demand and short commutes for residents. Key employers include gaming and software, healthcare products, and airlines operations outlined below.
- Activision Blizzard — interactive entertainment (1.7 miles) — HQ
- Microsoft Offices The Reserves — software & cloud offices (1.9 miles)
- Abbott Laboratories — healthcare products (2.0 miles) — HQ
- Symantec — cybersecurity offices (3.6 miles)
- Southwest Airlines Counter — airline operations (4.3 miles)
1140 Venice Blvd offers a Venice Urban Core location with high-income demographics, elevated ownership costs, and proximity to blue‑chip employers — factors that typically sustain multifamily renter demand. Based on CRE market data from WDSuite, the neighborhood sits in the top quartile among Los Angeles metro neighborhoods overall, with strong amenity access and nationally high home values that reinforce renter reliance on apartments. The property’s 1986 vintage is newer than much of the local stock, creating an opportunity to compete effectively with targeted upgrades to common areas and in‑unit finishes as systems age.
While neighborhood occupancy trends run below the metro median, a sizable renter base within a 3‑mile radius and forecast growth in household counts point to a larger tenant pool ahead. Investors who pair disciplined lease management with modernization and amenity programming are positioned to capture stable occupancy and pricing power relative to older comparables.
- Urban Core location with top‑quartile neighborhood standing in the Los Angeles metro
- Newer 1986 vintage versus local average, with practical value‑add via targeted system and finish updates
- High-cost ownership market supports rental demand and potential pricing power
- Expanding household counts within 3 miles increase the prospective renter pool
- Risk: neighborhood occupancy below metro median requires strong operations and asset differentiation