| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 84th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 722 N Orlando Ave, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1974 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
722 N Orlando Ave West Hollywood Multifamily Investment
This 33-unit property built in 1974 sits in a top-tier West Hollywood neighborhood with 91.6% occupancy and $21,834 average NOI per unit according to CRE market data from WDSuite.
Located in West Hollywood's urban core, this neighborhood ranks 87th among 1,441 metro neighborhoods with an "A" rating. The area demonstrates exceptional investment fundamentals with neighborhood-level NOI averaging $21,834 per unit, placing it in the 99th percentile nationally. Contract rents average $2,462 with 24.4% growth over five years, while occupancy holds steady at 91.6%.
The property's 1974 construction year aligns closely with the neighborhood average of 1965, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to capture upside. With 60% of housing units renter-occupied, the area maintains strong rental demand fundamentals that support multifamily investments.
Demographics within a 3-mile radius show 223,000 residents with median household income of $103,471, though 73.8% of housing units are renter-occupied, reinforcing rental market depth. The area's high home values averaging $1.5 million help sustain rental demand as elevated ownership costs keep households in the rental market. Forecasted population growth of 10.9% through 2028 should expand the tenant base and support occupancy stability.
Amenity density ranks in the 78th percentile nationally, with 54 restaurants per square mile and strong access to cafes and pharmacies. The neighborhood's educated population—54.6% hold bachelor's degrees, ranking first among metro neighborhoods—supports premium rental positioning and tenant quality.
Crime metrics show the neighborhood performing above metro averages, ranking 492nd among 1,441 Los Angeles metro neighborhoods and placing in the 70th percentile nationally. Property offense rates have declined significantly by 80.4% year-over-year, ranking in the 98th percentile for improvement trends. Violent crime rates also decreased 89.6% annually, demonstrating positive safety momentum that supports tenant retention and property values.
These improving safety trends, combined with the neighborhood's urban core location and high-income demographics, create a stable environment for multifamily operations and long-term asset appreciation.
The West Hollywood area benefits from proximity to major entertainment and corporate employers that provide workforce housing demand for the property's tenant base.
- Live Nation Entertainment — entertainment services (1.4 miles)
- Live Nation Entertainment — entertainment services (1.6 miles) — HQ
- Activision Blizzard Studios — gaming and technology (1.9 miles)
- AECOM — engineering and construction (3.1 miles) — HQ
- Occidental Petroleum — energy (4.4 miles) — HQ
This West Hollywood property offers compelling multifamily investment fundamentals anchored by exceptional neighborhood-level performance metrics. The area's $21,834 average NOI per unit places it in the 99th percentile nationally, while 91.6% occupancy and 24.4% rent growth over five years demonstrate market strength. The property's 1974 vintage presents value-add renovation opportunities to capture additional upside in a premium submarket.
Demographic projections support long-term rental demand, with forecasted population growth of 10.9% through 2028 expanding the tenant base. The area's 73.8% renter-occupied housing units and $1.5 million median home values reinforce rental market depth, as elevated ownership costs sustain multifamily demand according to commercial real estate analysis from WDSuite.
- Top-tier neighborhood fundamentals with 99th percentile NOI performance
- Stable occupancy at 91.6% with strong rent growth trajectory
- Value-add renovation potential given 1974 construction
- Projected 10.9% population growth supporting tenant demand
- Risk: Capital expenditure needs typical of 1970s vintage properties