| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 91st | Best |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 N Doheny Dr, West Hollywood, CA, 90048, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1992 |
| Units | 28 |
| Transaction Date | 2007-02-12 |
| Transaction Price | $477,454 |
| Buyer | XENON INVESTMENT CORP |
| Seller | DAVIS KYLER |
114 N Doheny Dr West Hollywood Multifamily Investment
This 28-unit property benefits from strong neighborhood-level NOI performance ranking 7th among 1,441 metro neighborhoods. West Hollywood's urban core location supports rental demand with 61% of housing units renter-occupied, according to CRE market data from WDSuite.
West Hollywood represents an urban core neighborhood with strong fundamentals for multifamily investors. The area ranks in the top quartile nationally for demographics (91st percentile) and housing metrics (81st percentile), supported by a highly educated resident base where 39% of adults hold bachelor's degrees. With 61% of housing units renter-occupied, the neighborhood maintains a substantial rental market that reinforces demand for multifamily properties.
Built in 1992, this property aligns with the neighborhood's average construction year of 1984, suggesting consistent building stock that may offer value-add renovation opportunities for investors focused on capital improvements. Neighborhood-level NOI averages $25,998 per unit, ranking 7th among 1,441 Los Angeles metro neighborhoods, indicating strong revenue generation potential in this submarket.
Demographics within a 3-mile radius show a stable tenant base with median household income of $115,000 and projected growth to $153,000 by 2028. The area's high home values (median $1.16 million) and elevated ownership costs reinforce rental demand, as elevated purchase prices keep households in the rental market. However, current neighborhood occupancy of 83% ranks in the lower quartile, requiring attention to lease management and tenant retention strategies.
The neighborhood offers strong amenity density with 27 restaurants per square mile (98th percentile nationally) and 3 cafes per square mile (97th percentile), supporting tenant appeal and retention. This urban core location provides the lifestyle amenities that attract and retain quality tenants in competitive rental markets.
Safety metrics for this West Hollywood neighborhood show moderate performance compared to metro and national benchmarks. Property crime rates rank 1,009th among 1,441 Los Angeles metro neighborhoods, placing it in the lower half of area neighborhoods. However, violent crime trends show improvement with a 33% decrease over the past year, ranking in the 77th percentile nationally for crime reduction.
Current violent crime rates of 38 incidents per 100,000 residents rank 684th among metro neighborhoods, indicating average performance relative to the broader Los Angeles market. Investors should consider these safety trends as part of tenant retention and property management strategies, particularly given the competitive urban rental environment.
The property benefits from proximity to major entertainment and technology employers that support workforce housing demand in West Hollywood's urban core.
- Live Nation Entertainment — entertainment services (0.3 miles)
- Live Nation Entertainment — entertainment services (0.5 miles) — HQ
- Activision Blizzard Studios — gaming and technology (0.8 miles)
- AECOM — engineering and construction services (2.0 miles) — HQ
- Occidental Petroleum — energy sector (3.3 miles) — HQ
This 28-unit West Hollywood property offers investors access to a neighborhood with exceptional NOI performance, ranking 7th among 1,441 metro neighborhoods according to multifamily property research data. The 1992 construction year aligns with area norms while potentially offering value-add renovation opportunities for investors seeking to enhance unit appeal and rental rates. Strong demographic fundamentals include a highly educated tenant base with 39% holding bachelor's degrees and projected household income growth to $153,000 by 2028.
The urban core location benefits from high amenity density and proximity to major employers including Live Nation Entertainment headquarters. However, current neighborhood occupancy of 83% requires focused lease management, and investors should monitor the competitive rental landscape given elevated home values that support rental demand but may pressure affordability metrics for some tenant segments.
- Top-tier NOI performance ranking 7th among 1,441 Los Angeles metro neighborhoods
- Strong demographic profile with projected 33% household income growth by 2028
- Value-add potential from 1992 vintage aligned with neighborhood construction patterns
- High renter concentration (61%) reinforced by elevated ownership costs
- Risk consideration: Below-average neighborhood occupancy requires active lease management