| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 94th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 708 W Knoll Dr, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
708 W Knoll Dr West Hollywood Multifamily Investment
This 48-unit property sits in an A+ rated neighborhood ranking 12th among 1,441 Los Angeles metro neighborhoods for overall investment attractiveness. Neighborhood-level occupancy remains stable at 84.8% with strong renter demand supported by 72.6% of housing units occupied by renters, according to WDSuite's CRE market data.
West Hollywood's investment fundamentals reflect a mature, amenity-dense urban core with strong renter demand. The neighborhood ranks in the top quartile nationally for demographics and amenities, supported by exceptional access to dining, retail, and services. With 62.4% of housing units renter-occupied, the area maintains consistent multifamily demand despite elevated ownership costs that average over $1.1 million.
Demographics within a 3-mile radius show household income growth of 28.8% over five years, reaching a median of $106,075. Population projections indicate 10.4% growth by 2028, expanding the renter pool to support occupancy stability. The forecast suggests household formation will increase by 36.7%, creating additional rental demand as new residents enter this high-amenity urban market.
The property's 1975 construction year aligns closely with the neighborhood average of 1969, indicating consistent building stock that may present value-add renovation opportunities. Median contract rents have increased 22.3% over five years to $2,089, while neighborhood-level occupancy of 84.8% suggests balanced supply-demand dynamics. High ownership costs relative to income ratios reinforce rental demand, as elevated home values keep households in the multifamily market.
Safety metrics present mixed signals that warrant careful evaluation in lease management and tenant retention strategies. The neighborhood ranks 1,229th out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the lower third for safety performance. Property crime rates are elevated at 4,940 incidents per 100,000 residents, though this represents a 24.6% improvement from the prior year.
Violent crime rates of 748 incidents per 100,000 residents rank in the bottom tier compared to metro neighborhoods, though recent trends show a modest 4.7% increase. These safety considerations may influence tenant demographics, retention rates, and require attention to security measures and property management protocols to maintain competitive positioning in the West Hollywood market.
The surrounding employment base centers on entertainment, technology, and energy sectors, providing diverse workforce housing demand for renters commuting to major corporate offices within the greater Los Angeles region.
- Live Nation Entertainment — entertainment services (1.2 miles)
- Live Nation Entertainment — entertainment services (1.4 miles) — HQ
- Activision Blizzard Studios — gaming & technology (1.7 miles)
- AECOM — engineering & construction services (2.9 miles) — HQ
- Occidental Petroleum — energy (4.2 miles) — HQ
This West Hollywood property offers exposure to one of Los Angeles' most amenity-rich neighborhoods, ranking 12th overall among 1,441 metro neighborhoods. The 1975 vintage presents potential value-add opportunities through strategic renovations, while the neighborhood's 62.4% renter occupancy rate indicates sustained multifamily demand. Demographics within a 3-mile radius project 10.4% population growth and 36.7% household formation by 2028, expanding the tenant base.
High ownership costs averaging over $1.1 million sustain rental demand, as elevated home values keep households in the multifamily market. Based on CRE market data from WDSuite, neighborhood rents have grown 22.3% over five years while maintaining 84.8% occupancy, suggesting balanced supply-demand fundamentals despite competitive pressures in this mature urban core.
- Top-tier neighborhood ranking with exceptional amenity access and renter demographics
- Projected 36.7% household formation growth expanding rental demand through 2028
- Value-add potential through 1975 vintage renovation in high-rent market
- Elevated ownership costs sustaining multifamily demand and tenant retention
- Risk consideration: Safety metrics rank in bottom third of metro neighborhoods requiring security focus