| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 84th | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 151 Ocean Front Walk, Venice, CA, 90291, US |
| Region / Metro | Venice |
| Year of Construction | 2003 |
| Units | 64 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
151 Ocean Front Walk, Venice CA Multifamily Investment
Deep renter demand and a high-cost ownership landscape support leasing durability in this Venice Urban Core location, according to WDSuite’s CRE market data, even as neighborhood occupancy trends have been softer than the metro.
Located along Venice’s Ocean Front Walk in the Los Angeles-Long Beach-Glendale metro, the neighborhood scores an A with a strong Urban Core profile. Amenity access is competitive among 1,441 metro neighborhoods, and nationally the area sits in the upper tiers for daily necessities and recreation: restaurants are in the 99th percentile nationally, pharmacies around the 97th, and parks near the very top of the national distribution. This translates to day-to-day convenience and lifestyle appeal that can aid marketing and retention.
Neighborhood rents and incomes indicate pricing power with tenant retention considerations rather than severe affordability pressure. The neighborhood’s rent-to-income ratio trends relatively manageable, while elevated home values (top national percentiles) characterize a high-cost ownership market that tends to reinforce reliance on multifamily housing. For investors, this supports depth of demand and potential lease stability, though active lease management remains important at higher price points.
Tenure data points to multifamily demand depth: the share of housing units that are renter-occupied is high (above metro median and in the 95th percentile nationally). That typically broadens the tenant base and supports leasing velocity. At the same time, neighborhood occupancy has trended below the metro with recent softening; owners should underwrite prudent downtime and concessions management while leaning on the area’s strong amenity fundamentals.
Vintage matters: with a 2003 construction year versus a neighborhood average around 1975, the asset is newer than much of the local stock, offering competitive positioning against older buildings. Investors should still plan for mid-life capital items and potential modernization to maintain standing against newer deliveries.
Within a 3-mile radius, demographics show a large, affluent renter pool with smaller household sizes and a renter-occupied share around 70%. Forecasts point to an increase in households by 2028 and rising incomes, which can expand the renter pool and support occupancy stability and rent growth. These trends, based on commercial real estate analysis from WDSuite, align with sustained demand for well-located, professionally managed multifamily assets.
Safety indicators are mixed but improving. Compared with 1,441 Los Angeles-Long Beach-Glendale neighborhoods, overall crime ranks above the metro median (crime rank roughly 634 of 1,441), and nationally the neighborhood sits around the 60th percentile for safety. Year over year, both violent and property offense rates have declined sharply, placing those improvements among the stronger national performers. As always, investors should evaluate micro-location and property operations, but the broader trend suggests moderating risk.
Nearby employers span healthcare, gaming, technology, energy, and cybersecurity, providing commute convenience that supports renter demand and retention for workforce and professional households.
- Abbott Laboratories — healthcare (0.44 miles) — HQ
- Activision Blizzard — gaming & interactive entertainment (2.34 miles) — HQ
- Microsoft Offices The Reserves — technology (3.46 miles)
- Occidental Petroleum — energy (4.89 miles) — HQ
- Symantec — cybersecurity (5.33 miles)
151 Ocean Front Walk offers a 64-unit, 2003-vintage asset in a Venice Urban Core location where elevated ownership costs and a high renter-occupied share support a broad tenant base. The asset’s newer vintage versus the neighborhood average positions it competitively against older stock, while mid-life systems may warrant targeted capital planning to sustain performance. According to CRE market data from WDSuite, neighborhood occupancy has been below metro levels recently, but amenity strength and renter concentration can help underpin leasing and retention.
Within a 3-mile radius, forecasts point to population growth and a meaningful increase in households by 2028 alongside rising incomes, reinforcing renter pool expansion and potential pricing power. Investors should balance these fundamentals against local occupancy volatility, emphasizing operations, renewal management, and product differentiation to capture demand.
- 2003 vintage offers competitive positioning versus older neighborhood stock, with mid-life CapEx planning upside
- High renter-occupied share and affluent 3-mile renter base support demand depth and retention
- Strong amenity environment (restaurants, parks, daily needs) enhances marketing and leasing velocity
- Elevated ownership costs in the area reinforce reliance on multifamily housing and potential pricing power
- Risk: neighborhood occupancy trends have been softer than the metro; underwrite downtime and concessions management