| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 95th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 512 Rose Ave, Venice, CA, 90291, US |
| Region / Metro | Venice |
| Year of Construction | 2011 |
| Units | 70 |
| Transaction Date | 2012-10-01 |
| Transaction Price | $56,200,000 |
| Buyer | Archstone Venice LP |
| Seller | 512 Rose LLC |
512 Rose Ave Venice Multifamily Investment Opportunity
Neighboring an amenity-rich Urban Core pocket with strong renter concentration at the neighborhood level, this asset benefits from durable demand drivers and high-cost ownership dynamics, according to WDSuite’s CRE market data. While neighborhood occupancy has softened versus national norms, the area’s depth of high-income households supports lease-up and renewal pricing power.
Venice’s Urban Core setting delivers a dense amenity base and lifestyle access that underpin multifamily leasing. The neighborhood ranks 89th of 1,441 Los Angeles metro neighborhoods for overall amenities (top quartile nationally), with restaurants and cafes among the highest concentrations in the region. Average school ratings sit in the top tier (ranked 1st of 1,441; top nationally), a quality-of-life signal that can aid tenant retention.
For investors, tenure and pricing context are constructive. The neighborhood’s share of renter-occupied housing units is elevated at 53.1%, indicating a sizable tenant base, and within a 3-mile radius renters account for a larger share of occupied units, reinforcing depth for multifamily demand. Elevated home values relative to incomes at the neighborhood level create a high-cost ownership market, which tends to sustain reliance on rentals and support renewal capture.
Operating metrics present a mixed but manageable profile. Neighborhood occupancy is below national norms, suggesting more competitive lease-up in certain sub-pockets; however, neighborhood-level NOI per unit performance ranks among the top quartile nationally, indicating that well-positioned assets can still capture strong operating margins. Median contract rents in the neighborhood sit near the top of national ranges, while rent-to-income levels imply some headroom for professionally managed properties to balance pricing with retention.
Demographic signals, aggregated within a 3-mile radius, point to a higher-income renter pool and a projected increase in both population and households over the next five years. Forecasts show household growth outpacing population growth alongside smaller average household sizes—dynamics that typically expand the pool of renters for mid-size units and support occupancy stability for professionally managed communities.
Safety indicators are comparatively favorable at the neighborhood level. Based on WDSuite’s data, the neighborhood is competitive among 1,441 Los Angeles metro neighborhoods on overall crime rank, and it sits above the national median for safety. Recent year-over-year trends show notable improvement in both violent and property offense rates, which supports leasing confidence and resident retention.
That said, property crime remains a consideration versus the national landscape. Owners typically address this with standard operational measures (access control, lighting, and monitoring) to align with renter expectations in dense urban environments.
The immediate area draws on a diversified employment base spanning healthcare, gaming, technology, and energy—supporting workforce housing demand and commute convenience for renters. Nearby anchors include Abbott Laboratories, Activision Blizzard, Microsoft offices, Occidental Petroleum, and Symantec.
- Abbott Laboratories — healthcare & life sciences (0.7 miles) — HQ
- Activision Blizzard — gaming & interactive entertainment (1.9 miles) — HQ
- Microsoft Offices The Reserves — technology offices (3.1 miles)
- Occidental Petroleum — energy corporate offices (4.6 miles) — HQ
- Symantec — cybersecurity software (4.9 miles)
Built in 2011, the property is materially newer than the neighborhood’s older housing stock, offering competitive positioning against vintage assets while leaving room for targeted modernization of common areas and systems over time. The Venice neighborhood combines high renter concentration and a deep, high-income household base with top-tier amenities and schools—factors that typically support renewal capture and occupancy stability even as leasing conditions ebb and flow.
According to CRE market data from WDSuite, the neighborhood posts strong rent levels and top-quartile NOI-per-unit performance, while metro-relative occupancy has been softer—an execution risk that rewards disciplined leasing and asset differentiation. Within a 3-mile radius, forecasts call for growth in households and incomes alongside smaller household sizes, trends that generally expand the renter pool for mid-size floor plans and support long-term demand.
- 2011 vintage offers competitive positioning versus older stock with selective value-add potential
- High renter concentration and high-income households support demand depth and renewal capture
- Amenity- and school-rich Urban Core location underpins leasing and retention
- Household growth and smaller sizes within 3 miles point to a larger renter pool over time
- Risks: neighborhood occupancy below national norms and urban property-crime considerations require focused operations