| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 94th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 852 Palm Ave, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1989 |
| Units | 29 |
| Transaction Date | 2013-08-01 |
| Transaction Price | $12,323,123 |
| Buyer | MLT IX LLC |
| Seller | BEVERLY NMS LLC |
852 Palm Ave West Hollywood Multifamily with Value-Add Upside
Renter demand is reinforced by a high-cost ownership market and small-household demographics, according to WDSuite’s CRE market data, while amenity density supports leasing velocity.
Situated in West Hollywood’s Urban Core, the neighborhood scores A+ overall and ranks 12th among 1,441 Los Angeles metro neighborhoods, indicating competitive fundamentals versus most of the metro. Amenity access is a clear strength: restaurants and pharmacies are in the top tier nationally, with cafes and groceries also placing in the top percentiles. These lifestyle conveniences typically translate to stronger touring activity and fewer concession-driven lease-ups.
Local schools benchmark strongly, landing in the top percentile nationwide by average rating. Household sizes are among the smallest in the metro, which aligns with demand for smaller formats and supports consistent turnover-driven rent resets. Neighborhood renter-occupied share is high (above the 90th percentile nationally), signaling a deep tenant base for multifamily.
By contrast, neighborhood occupancy trends sit in the lower third nationally, indicating more variability in lease-up and renewal outcomes than in tighter submarkets. Investors should plan for active leasing management and focused retention programs to stabilize through seasonality. Median contract rents are elevated versus national norms, consistent with the location’s premium positioning and amenity set.
Within a 3-mile radius, demographics show a large, income-rich renter pool (current renter-occupied share near three-quarters of housing units) and a projected increase in households over the next five years. This points to a larger tenant base and supports long-term absorption. Elevated home values relative to incomes (top national percentiles) define a high-cost ownership market, which generally sustains rental demand and supports pricing power more than in lower-cost metros.
The property’s 1989 vintage is newer than the neighborhood’s average 1969 construction year. That positioning can be competitively favorable versus older stock, though investors should still evaluate building systems, unit finishes, and common areas for targeted modernization to enhance rentability and retention.
Safety indicators are mixed when viewed against broader benchmarks. Compared with neighborhoods nationwide, this area trends below national safety norms, and within the Los Angeles metro it tracks in the lower cohort among 1,441 neighborhoods. Investors should underwrite prudent security, lighting, and access-control measures, especially for common areas and garages.
On a positive note, recent data show property crime trending down year over year, which can support perception and retention when combined with on-site practices. Positioning amenities and management protocols to emphasize visibility and controlled access can help mitigate risk and sustain leasing performance over time.
Proximity to regional employers in entertainment, gaming, engineering, and energy broadens the resident employment base and supports lease retention for workforce and professional renters. Notable nearby employers include Live Nation Entertainment, Activision Blizzard Studios, AECOM, and Occidental Petroleum.
- Live Nation Entertainment — entertainment (1.19 miles)
- Live Nation Entertainment — entertainment (1.28 miles) — HQ
- Activision Blizzard Studios — media & gaming offices (1.69 miles)
- AECOM — engineering & infrastructure (2.78 miles) — HQ
- Occidental Petroleum — energy (4.0 miles) — HQ
852 Palm Ave offers exposure to a West Hollywood micro-location with top-tier amenities, strong school benchmarks, and a deep renter-occupied housing base. The asset’s 1989 vintage positions it newer than the neighborhood norm, suggesting competitive standing versus older inventory with potential for targeted value-add to align finishes and systems with tenant expectations. Elevated home values and a high value-to-income landscape reinforce reliance on rental housing, supporting pricing power and lease retention.
According to CRE market data from WDSuite, neighborhood occupancy sits below the national middle, so active leasing and renewal management remain important. Within a 3-mile radius, projections indicate growth in households and incomes over the next five years, expanding the tenant base and supporting long-term absorption. Investors should balance these strengths with prudent underwriting around safety and capex to stabilize operations and capture rent premiums tied to location and amenities.
- Amenity density and top-tier schools underpin leasing velocity and support premium positioning.
- High renter-occupied share and a high-cost ownership market sustain demand and pricing power.
- 1989 vintage enables targeted value-add to enhance rentability versus older local stock.
- Risks: below-median neighborhood occupancy and safety require active management and capex planning.