| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 84th | Best |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1620 Venice Blvd, Venice, CA, 90291, US |
| Region / Metro | Venice |
| Year of Construction | 1988 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1620 Venice Blvd Venice Multifamily Investment Opportunity
Neighborhood fundamentals indicate deep renter demand supported by elevated ownership costs and high incomes; according to WDSuite s CRE market data, the area s renter-occupied share is substantial while neighborhood occupancy has moderated toward broader metro norms.
This Urban Core pocket of Venice carries an A- neighborhood rating and ranks in the top quartile among 1,441 metro neighborhoods, signaling durable location quality for workforce and professional renters. Neighborhood-level rents sit well above national norms and have outpaced the past five years, which supports pricing power but also calls for attentive lease management to balance retention. Based on CRE market data from WDSuite, neighborhood occupancy is near the national mid-range and off prior peaks, suggesting a focus on renewal execution and steady leasing cadence.
Livability drivers are strong: grocery access ranks in the upper percentiles nationally, parks and restaurants are plentiful by national comparison, and childcare density is notably high. By contrast, pharmacy and café density within the immediate neighborhood footprint is thinner, so residents may rely on nearby corridors for those needs. Average school ratings trend above the national median, which can aid retention for households seeking stability.
Tenure patterns favor multifamily: at the neighborhood level, the renter-occupied share is high relative to national benchmarks, indicating a deep tenant base and consistent demand for apartments. Within a 3-mile radius, households have grown even as average household size has edged lower, pointing to more one- and two-person renter households that typically support sustained occupancy and turnover-driven value-add strategies. Forecasts within three miles point to increases in population and households over the next five years, expanding the prospective renter pool.
Home values are elevated by national standards, and value-to-income ratios are among the highest in the country. In practice, this high-cost ownership market underpins reliance on rental housing and can reinforce lease-up velocity and renewal stability for well-positioned assets. Neighborhood-level NOI per unit is among the strongest nationally, according to WDSuite s CRE market data, reflecting robust income potential in comparable assets.
The property s 1988 vintage is newer than the neighborhood average housing stock from 1970, offering relative competitiveness versus older inventory while still benefiting from targeted modernization (common areas, energy systems, in-unit finishes) to drive rent premiums and operating efficiency.
Safety indicators compare favorably: the neighborhood s crime ranking places it competitive among Los Angeles neighborhoods (top quartile among 1,441), and national comparisons land above the median for safety. Recent year-over-year trends from WDSuite show estimated declines in both violent and property offenses, which supports resident perception and lease retention without relying on block-level claims.
Investors should continue to monitor trendlines rather than single-year readings, but the directional improvement and comparative standing versus metro peers are constructive for multifamily operations.
Nearby employers span technology, healthcare, cybersecurity, and air travel, providing a diversified white-collar and service employment base that supports renter demand and commute convenience for residents of the area. The list below reflects major offices and headquarters within a short drive.
- Activision Blizzard gaming & interactive entertainment (1.6 miles) — HQ
- Microsoft Offices The Reserves — software (1.9 miles)
- Abbott Laboratories — healthcare & medical devices (2.2 miles) — HQ
- Symantec — cybersecurity (3.4 miles)
- Southwest Airlines Counter — airlines (4.3 miles)
Positioned in a high-cost ownership market with strong incomes and a deep renter base, 1620 Venice Blvd offers exposure to a Venice neighborhood that ranks in the top quartile of the Los Angeles metro. According to commercial real estate analysis using WDSuite data, neighborhood rents and home values sit in upper national percentiles, reinforcing rental demand and supporting pricing discipline. Neighborhood occupancy is near the national mid-range after a multi-year easing, making renewal management and consistent leasing the primary levers of performance.
The 1988 vintage provides a competitive edge over older stock in the area while allowing room for targeted upgrades to enhance rent premiums and operating efficiency. Within a 3-mile radius, projections show growth in population and households alongside shrinking household size, pointing to a larger pool of smaller renter households that can sustain demand over the medium term.
- High-cost ownership market and strong incomes support durable multifamily demand and lease retention.
- Newer-than-neighborhood vintage (1988) with value-add potential through selective modernization.
- Neighborhood rents and income performance compare favorably at the national level, per WDSuite data.
- Risk: neighborhood occupancy has eased from prior highs; active renewal strategy and leasing execution are important.