| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 94th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8819 Harratt St, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1989 |
| Units | 21 |
| Transaction Date | 2020-09-24 |
| Transaction Price | $12,025,000 |
| Buyer | KZL WEHO LLC |
| Seller | HARRATT GF LLC |
8819 Harratt St West Hollywood Multifamily Investment
Positioned in an amenity-rich West Hollywood pocket, the neighborhood shows a deep renter base and stable demand drivers; according to WDSuite’s CRE market data, high renter-occupied share and strong location fundamentals support income durability.
West Hollywood’s Urban Core setting delivers exceptional daily convenience. Amenity access ranks 49th among 1,441 Los Angeles metro neighborhoods, indicating a top-tier position locally, with national amenity metrics in the top quartile. Dense restaurant and pharmacy coverage, alongside strong park and grocery access, sustains walkable lifestyle appeal that supports leasing and retention.
Neighborhood educational options benchmark well: the average school rating is competitive at the very top of metro comparisons (ranked 1st of 1,441), translating to top percentile performance nationally. For investors, stronger school ratings can help stabilize family-oriented tenancy and reduce turnover risk in larger floor plans.
Vintage context: the asset was built in 1989, newer than the neighborhood’s average vintage of 1969 (ranked 764th of 1,441 metro neighborhoods). The comparatively newer construction can be more competitive versus older stock, while investors should still budget for modernization of aging systems to elevate rents and reduce ongoing maintenance.
Tenure and demand: the neighborhood’s share of renter-occupied housing units is elevated (ranked 319th of 1,441, top quartile nationally), signaling a deep tenant base for multifamily. Within a 3-mile radius, WDSuite data indicates a large renter pool as well, reinforcing leasing depth for professionally managed assets.
Demographics within a 3-mile radius show smaller average household sizes and high-income concentrations today, with forecasts calling for growth in population and a sizable increase in households by 2028. This projected renter pool expansion supports occupancy stability and potential absorption, even as near-term population trends have been mixed.
Ownership costs are among the highest nationally (home values in the top percentile range), which typically sustains reliance on rental housing and can support pricing power. Rent-to-income levels benchmark favorably for lease management, suggesting manageable affordability pressure that can aid renewal retention strategies.
Operating backdrop: neighborhood net operating income per unit benchmarks near the top of metro comparisons (ranked 39th of 1,441; top national tier), while reported occupancy in the broader neighborhood cohort has been softer in recent comparisons. For underwritten returns, that mix argues for product differentiation and asset quality upgrades to capture demand drawn by the submarket’s lifestyle strengths.
Safety indicators benchmark below many Los Angeles neighborhoods (crime rank 1,229 out of 1,441), and national comparisons place the area in lower percentiles for both property and violent offenses. For investors, this calls for attention to onsite security, lighting, access controls, and insurance assumptions during underwriting.
Trend context matters: according to WDSuite data, estimated property offenses have declined over the last year, a constructive signal even as overall levels remain elevated versus national averages. Framing safety in resident communications and maintaining proactive operations can help support leasing and retention.
Nearby corporate offices in media, entertainment, engineering, and energy provide diverse white-collar employment and commute convenience that supports renter demand and retention, including Live Nation, Activision Blizzard Studios, AECOM, Occidental Petroleum, and Disney.
- Live Nation Entertainment — entertainment (1.3 miles)
- Activision Blizzard Studios — media & gaming (1.8 miles)
- AECOM — engineering & infrastructure (2.9 miles) — HQ
- Occidental Petroleum — energy (4.0 miles) — HQ
- Disney — entertainment (5.7 miles) — HQ
8819 Harratt St is a 21-unit multifamily asset with notably large average floor plans, positioned in a top-tier West Hollywood location where amenities, schools, and income profiles rank among the strongest in the Los Angeles metro. According to CRE market data from WDSuite, the neighborhood maintains a high renter concentration and nationally strong amenity access, supporting leasing depth and potential pricing power in a high-cost ownership market.
Built in 1989, the property is newer than the area’s average vintage, offering an edge versus older stock, while still presenting value-add potential through selective modernization of interiors, common areas, and building systems. Near-term, investors should underwrite for neighborhood occupancy variability and safety-focused operating practices; medium term, forecasted growth in households within a 3-mile radius points to a larger tenant base that can support steady absorption.
- Amenity-rich, top-tier West Hollywood location that supports tenant retention and rent performance.
- High renter-occupied share and deep 3-mile renter pool underpin demand resilience.
- 1989 vintage with larger unit sizes offers competitive positioning and value-add upgrade upside.
- Household growth projected within 3 miles, supporting future leasing and occupancy stability.
- Risks: below-metro safety benchmarks and softer neighborhood occupancy require prudent underwriting and active management.