| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 80th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1320 N Sierra Bonita Ave, West Hollywood, CA, 90046, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1987 |
| Units | 54 |
| Transaction Date | 2016-01-06 |
| Transaction Price | $18,500,000 |
| Buyer | VILLA SARAH APARTMENTS LLC |
| Seller | 27TH/PICO BOULEVARD LIMITED PARTNERSHIP |
1320 N Sierra Bonita Ave West Hollywood Multifamily Investment
This 54-unit property built in 1987 sits in a top-quartile neighborhood nationally with strong rental demand fundamentals. The area maintains a 77% renter-occupied housing share and ranks in the 96th percentile for net operating income per unit according to CRE market data from WDSuite.
The property occupies a highly-rated West Hollywood neighborhood that ranks 38th among 1,441 metro neighborhoods with an A+ rating and 96th national percentile for amenities. This urban core location benefits from exceptional walkability, with 62.24 restaurants per square mile (99th percentile nationally) and 9.83 grocery stores per square mile (99th percentile), supporting strong tenant retention through convenience and lifestyle appeal.
Demographics within a 3-mile radius show 76.3% of housing units are renter-occupied, creating substantial rental demand depth. The area attracts educated tenants, with 46.4% of residents holding bachelor's degrees (99th percentile nationally), while median household income of $96,934 supports rent collection stability. Forecasted household growth of 37.1% through 2028 indicates expanding renter pool potential.
The 1987 construction year places this asset within the neighborhood's average vintage of 1968, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older area properties. Median contract rent of $2,063 reflects strong pricing power, with 28.7% growth over five years, though rent-to-income ratios suggest monitoring affordability pressures in lease renewal strategies.
Neighborhood-level occupancy of 89.5% indicates stable fundamentals, though this represents a 3.1 percentage point decline over five years, warranting attention to competitive positioning and tenant retention initiatives. The area's high home values (median $1.17 million) reinforce rental demand by keeping many households in the multifamily market rather than transitioning to ownership.
The neighborhood demonstrates improving safety trends with property crime rates declining 72.2% year-over-year and violent crime falling 89.0% annually, both ranking in the 96th and 99th percentiles nationally for improvement. Current property crime rates of 545.6 incidents per 100,000 residents rank 859th among 1,441 metro neighborhoods, placing the area near the middle of regional comparisons.
Violent crime rates of 69.7 incidents per 100,000 residents rank 884th regionally, indicating moderate performance relative to the metro area. The substantial year-over-year crime reductions suggest positive momentum in neighborhood safety conditions, though investors should monitor whether these improvements sustain over longer periods when evaluating tenant appeal and retention factors.
The property benefits from proximity to major entertainment and technology employers that support workforce housing demand, including multiple corporate offices within commuting distance.
- Live Nation Entertainment — entertainment services (0.7 miles)
- Live Nation Entertainment — entertainment services (2.8 miles) — HQ
- Activision Blizzard Studios — gaming & technology (3.3 miles)
- AECOM — engineering & consulting (4.4 miles) — HQ
- Disney — entertainment & media (4.6 miles) — HQ
This West Hollywood multifamily asset combines location strength with operational fundamentals in a top-quartile neighborhood nationally. The property's 1987 vintage positions it favorably within the area's building stock while the 77% renter-occupied housing share and educated tenant base support demand stability. Strong employment proximity to entertainment and technology headquarters provides workforce housing appeal, though investors should monitor occupancy trends and affordability dynamics in renewal strategies.
Forecasted household growth of 37.1% through 2028 within the 3-mile radius indicates expanding renter pool potential, while high ownership costs (median home values of $1.17 million) reinforce multifamily demand. According to multifamily property research from WDSuite, the neighborhood ranks in the 96th percentile for net operating income per unit, demonstrating strong revenue generation capacity relative to comparable markets.
- Top-quartile neighborhood ranking with A+ rating among 1,441 metro areas
- Strong employment base with major entertainment and technology employers nearby
- 37.1% forecasted household growth supporting rental demand expansion
- High ownership costs reinforce multifamily housing demand depth
- Risk: Occupancy declined 3.1 percentage points over five years requiring retention focus