| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 94th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 724 N West Knoll Dr, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1973 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
724 N West Knoll Dr West Hollywood Multifamily Investment
Amenity-rich West Hollywood location with a deep renter base supports durable leasing even as neighborhood occupancy trends run below the metro average, according to WDSuite s CRE market data.
Situated in West Hollywood s Urban Core, the property benefits from a top-tier neighborhood profile. The area ranks 49th out of 1,441 Los Angeles metro neighborhoods for amenities easily within the top quartile with dense access to restaurants, cafes, pharmacies, parks, and grocery options. This concentration of daily conveniences underpins renter appeal and reduces friction for lease retention.
Neighborhood rents are positioned in the upper tier nationally (top quartile), while home values sit near the high end of national comparisons. In a high-cost ownership market, elevated home values tend to reinforce renter reliance on multifamily housing, supporting demand depth and pricing power for well-located assets. Rent-to-income levels are consistent with a professionally managed leasing strategy rather than entry-level affordability, which suggests attention to renewal management but does not preclude growth.
Tenure dynamics are favorable for multifamily: an estimated 62.4% of housing units in the neighborhood are renter-occupied (ranked 319 of 1,441 in the metro, within the top quartile). This renter concentration indicates a broad tenant base and supports ongoing leasing velocity. By contrast, neighborhood occupancy is ranked 1,363 of 1,441 below the metro median which argues for hands-on operations and potential value creation via unit upgrades, amenity refreshes, and targeted marketing to capture share.
Within a 3-mile radius, demographics skew toward smaller households and higher incomes relative to national norms, with households and incomes projected to grow over the next five years. Forecast increases in households point to a larger tenant base and support steady demand for rental units, based on CRE market data from WDSuite. The neighborhood also posts strong school quality indicators (top national percentiles), which can enhance livability and reduce turnover among long-term renters.
Vintage context: built in 1973, the asset is older than much of the competitive new supply. Investors should underwrite capital planning for building systems and common-area modernization; the upside is the ability to reposition finishes and amenities to better compete against newer stock while leveraging the location s fundamentals.
Safety indicators show a mixed picture. Compared with neighborhoods nationwide, this area scores in lower safety percentiles, and within the Los Angeles-Long Beach-Glendale metro it ranks 1,229 out of 1,441 neighborhoods below the metro average. Recent trends show property-related offenses declining year over year, which is a constructive directional signal, but overall levels remain elevated versus national benchmarks.
For underwriting, investors typically account for higher-security operating practices (access control, lighting, and monitoring) and may see insurance and operating assumptions trend above suburban benchmarks. Ongoing monitoring of neighborhood trends is advisable, as directional improvements can support leasing stability over time.
The immediate employment base blends entertainment, engineering, and energy headquarters nearby, supporting commute convenience and a steady renter pool. Key nodes include Live Nation, Activision Blizzard Studios, AECOM, and Occidental Petroleum.
- Live Nation Entertainment entertainment (1.2 miles)
- Live Nation Entertainment entertainment (1.4 miles) HQ
- Activision Blizzard Studios entertainment & gaming (1.8 miles)
- AECOM engineering & infrastructure (2.9 miles) HQ
- Occidental Petroleum energy (4.2 miles) HQ
724 N West Knoll Dr offers investors a West Hollywood Urban Core location with top-quartile amenity access and a deep renter base. Neighborhood rents trend in the upper national tier while home values are elevated, reinforcing multifamily reliance and supporting pricing power for updated product. According to CRE market data from WDSuite, renter-occupied share is high, which helps sustain leasing velocity even as neighborhood occupancy ranks below the metro median a setup conducive to value-add execution.
Built in 1973, the asset merits capital planning for systems and finish updates, creating a clear path to reposition against newer competitive supply. Within a 3-mile radius, higher-income, smaller-household demographics and projected household growth point to a larger tenant base over time, supporting occupancy stability and renewal performance with disciplined operations.
- Amenity-rich West Hollywood location with top-quartile access to daily services and dining.
- High renter-occupied share supports depth of demand and leasing velocity.
- 1973 vintage offers value-add potential via system upgrades and finish modernization.
- Elevated ownership costs in the area reinforce reliance on multifamily, aiding pricing power.
- Risk: Neighborhood occupancy ranks below metro median; success depends on execution and targeted operations.