| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 90th | Best |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1409 E Venice Blvd, Venice, CA, 90291, US |
| Region / Metro | Venice |
| Year of Construction | 1989 |
| Units | 29 |
| Transaction Date | --- |
| Transaction Price | $1,507,500 |
| Buyer | CALIFORNIA FEDERAL BANK FSB |
| Seller | CAL FED SERVICE CORP |
1409 E Venice Blvd Venice Multifamily — 1989 Vintage
In a high-cost ownership pocket of Venice, neighborhood data points to durable renter demand and strong incomes, according to WDSuite’s CRE market data. Neighborhood occupancy is measured for the surrounding area, where lease-up has been stable but competitive, supporting disciplined operations.
Located in Venice within the Los Angeles-Long Beach-Glendale metro, the neighborhood earns an A rating and ranks 199 out of 1,441 metro neighborhoods, placing it above the metro median and competitive among Los Angeles neighborhoods. This Urban Core setting combines strong household incomes with established housing stock and steady renter interest.
The property’s 1989 construction is newer than the neighborhood’s average vintage (1953), suggesting relative competitiveness versus older inventory while leaving room for targeted modernization and value-add planning over the hold.
Local amenity access skews practical: groceries and pharmacies rank in the mid-to-high national percentiles, while restaurants are plentiful relative to many areas. Parks and cafes are less dense nearby, which places more weight on property-level common areas and walk-to conveniences along Venice Boulevard.
Ownership costs are elevated here (home values sit in the top national percentile), which tends to reinforce reliance on multifamily rentals and can aid pricing power and lease retention. Median contract rents in the neighborhood benchmark near the top nationwide as well, while the rent-to-income ratio trends relatively manageable, implying households have capacity that can support collections.
Tenure data indicates depth in the renter base: within a 3-mile radius, roughly two-thirds of housing units are renter-occupied, expanding the prospect pool for a 29-unit asset. Over the last period, population was essentially flat within 3 miles but households increased and average household size edged lower; forward-looking projections indicate additional household growth and smaller household sizes, which generally supports multifamily demand and occupancy stability.
Safety indicators compare favorably in context. The neighborhood’s overall crime rank sits above the metro average (296 out of 1,441), and nationally it falls into stronger percentiles relative to peers. Recent trend data shows notable improvement: both property and violent offense estimates declined year over year, with reductions placing in the top tiers nationally. These are neighborhood-level measures and may continue to evolve.
Interpreting the mix: national percentiles indicate comparatively safer conditions (higher percentiles are better), while metro ranks frame how the area stacks up within Los Angeles. For underwriting, investors may treat the improving trend as supportive for retention, while continuing to monitor street-level patterns and property security needs.
Proximity to major tech, entertainment, and corporate offices supports a deep commuter renter base and can aid retention through convenience to job centers. Notable nearby employers include Activision Blizzard, Microsoft offices, Abbott Laboratories, Symantec, and Southwest Airlines.
- Activision Blizzard — interactive entertainment (1.6 miles) — HQ
- Microsoft Offices The Reserves — software & cloud offices (1.9 miles)
- Abbott Laboratories — healthcare & devices (2.1 miles) — HQ
- Symantec — cybersecurity offices (3.5 miles)
- Southwest Airlines Counter — aviation services (4.3 miles)
1409 E Venice Blvd is a 29-unit 1989-vintage asset positioned in a high-income, renter-heavy pocket of Venice. Elevated ownership costs in the neighborhood reinforce reliance on rental housing, while a manageable rent-to-income profile supports collections and lease retention. According to CRE market data from WDSuite, the surrounding neighborhood ranks above the metro median and benefits from strong access to daily-needs amenities, with nearby employment nodes in tech and corporate services providing a steady commuter tenant base.
Relative to older local stock, the 1989 vintage offers competitive positioning with potential to capture value through targeted updates. Neighborhood occupancy trends have been competitive but call for active lease management; pairing operational discipline with demand from nearby employers can help stabilize performance through cycles.
- High-cost ownership market sustains multifamily demand and supports pricing power
- Strong incomes and manageable rent-to-income dynamics aid collections and retention
- 1989 vintage competitive versus older stock with clear value-add upgrade pathways
- Proximity to major employers underpins a broad commuter renter pool
- Risk: neighborhood occupancy requires active leasing strategy and amenity programming