| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 94th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1156 Hacienda Pl, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1990 |
| Units | 21 |
| Transaction Date | 1998-03-06 |
| Transaction Price | $474,000 |
| Buyer | COLLIS RICHARD J |
| Seller | WH AND P LIMITED |
1156 Hacienda Pl West Hollywood Multifamily Investment
This 21-unit property benefits from West Hollywood's strong renter demand, with 74% of 3-mile radius housing units occupied by renters. Neighborhood-level occupancy trends indicate potential for improved operational performance according to WDSuite's CRE market data.
Located in West Hollywood's Urban Core, this neighborhood ranks among the top quartile nationally for amenities and demographics, positioning it competitively among 1,441 Los Angeles metro neighborhoods. The area features exceptional amenity density with 91 restaurants and 8 pharmacies per square mile, supporting tenant retention through walkable convenience.
Demographics within a 3-mile radius show a mature rental market with 201,000 residents and strong income fundamentals. Median household income of $104,300 provides solid rent-paying capacity, while projections indicate household growth of 37% through 2028, expanding the potential tenant base. The area's 74% renter-occupied housing units reinforce sustained rental demand, particularly given median home values of $1.1 million that keep many households in the rental market.
Built in 1990, this property is newer than the neighborhood's 1969 average construction year, potentially reducing near-term capital expenditure needs compared to older area stock. Neighborhood-level occupancy of 84.8% suggests room for operational improvements, while median rents of $2,089 indicate pricing power in this high-amenity location. The rent-to-income ratio presents affordability considerations that warrant attention to lease management and retention strategies.
Safety metrics indicate challenges that require consideration in investment analysis. The neighborhood ranks in the lower tier among Los Angeles metro areas for overall crime, with property crime rates significantly above national averages. However, recent trends show a 25% decrease in property crime rates year-over-year, suggesting improving conditions.
Violent crime rates also exceed typical benchmarks, though this reflects broader urban core dynamics common to high-density entertainment districts. Investors should factor security considerations into property management strategies and tenant screening processes. The area's strong amenity profile and economic fundamentals may help offset safety concerns for many renters seeking urban convenience.
The surrounding employment base includes major entertainment and technology companies that support professional renter demand in this West Hollywood location.
- Live Nation Entertainment — entertainment services (1.7 miles)
- Live Nation Entertainment — entertainment services (1.8 miles) — HQ
- Activision Blizzard Studios — gaming & technology (2.2 miles)
- AECOM — engineering & construction (3.3 miles) — HQ
This West Hollywood property offers exposure to a high-amenity urban core with strong rental fundamentals and demographic support. The 74% renter-occupied housing units within a 3-mile radius, combined with $1.1 million median home values, create sustained rental demand as ownership remains out of reach for many households. Projected household growth of 37% through 2028 supports long-term tenant pool expansion.
Built in 1990, the property's vintage is newer than the neighborhood average, potentially reducing immediate capital expenditure needs while offering value-add opportunities. According to CRE market data from WDSuite, the area's NOI per unit averages rank in the top tier nationally, indicating strong income potential despite current neighborhood-level occupancy challenges that may present operational upside.
- Strong rental demand supported by 74% renter-occupied units and high ownership costs
- Projected 37% household growth through 2028 expanding tenant base
- Premium amenity density with 91 restaurants per square mile supporting retention
- Risk: Safety metrics and rent-to-income ratios require active management attention