| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 94th | Best |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 939 Palm Ave, West Hollywood, CA, 90069, US |
| Region / Metro | West Hollywood |
| Year of Construction | 1990 |
| Units | 41 |
| Transaction Date | 1999-04-15 |
| Transaction Price | $5,720,000 |
| Buyer | BEVERLY HILLS NMS LLC |
| Seller | VILLAS PALM |
939 Palm Ave West Hollywood Multifamily Investment
Positioned in a high-amenity Urban Core with strong renter concentration, the asset benefits from durable tenant demand and premium neighborhood fundamentals, according to WDSuite’s CRE market data. Investors should underwrite for leasing execution while leveraging location-driven pricing power.
Location & livability: The property sits in a top-performing pocket of West Hollywood (A+ neighborhood rating; rank 12 among 1,441 Los Angeles metro neighborhoods), with exceptional access to daily needs and lifestyle amenities. Restaurants rank in the top national percentile, grocery access is competitive nationally, and parks and pharmacies both score near the top of national distributions. These factors support resident retention and lease-up velocity.
Rents, occupancy, and tenure: Neighborhood occupancy is below national norms (ranked toward the lower end of Los Angeles’ 1,441 neighborhoods), so leasing strategy and concessions management matter. At the same time, renter-occupied housing makes up a large share of neighborhood units (62.4%; top decile nationally), indicating meaningful depth in the tenant base. Within a 3-mile radius, renter concentration is higher still (about 71% of units renter-occupied), reinforcing multifamily demand and helping sustain occupancy over the cycle.
Demographics (3-mile radius): Despite recent population softness, WDSuite data indicate projected population growth and a substantial increase in households over the next five years, expanding the local renter pool. Median and mean household incomes are high and trending upward, which, paired with a rent-to-income ratio around one-quarter, supports collections and lease retention for well-managed assets.
Home values and affordability: Home values rank near the top nationally, placing the area firmly in a high-cost ownership market. For multifamily owners, this typically reinforces renter reliance on apartments and can support pricing power, though operators should monitor affordability pressure when pushing rents.
Asset vintage and implications: Built in 1990 compared with a neighborhood average vintage near 1969, the property is newer than much of the local stock. This generally enhances competitive positioning versus older buildings while still warranting capital planning for aging systems and selective modernization to meet current renter expectations.
Safety trends are mixed and should be evaluated at the neighborhood level rather than the block. The area’s crime rank sits in the lower tier among the Los Angeles metro’s 1,441 neighborhoods, indicating relatively higher reported incidents versus many peers. Nationally, the neighborhood falls below average on safety percentiles; however, recent data show an estimated year-over-year decline in property offenses, suggesting some improvement in that category. Operators should incorporate appropriate security measures and underwriting assumptions while benchmarking against comparable Urban Core assets.
Proximity to entertainment and engineering corporate offices supports a steady professional renter base and commute convenience for residents, notably including Live Nation, Activision Blizzard Studios, and AECOM.
- Live Nation Entertainment — corporate offices (1.2 miles)
- Live Nation Entertainment — corporate offices (1.3 miles) — HQ
- Activision Blizzard Studios — corporate offices (1.7 miles)
- Live Nation Entertainment — corporate offices (2.5 miles)
- AECOM — engineering & infrastructure (2.8 miles) — HQ
This 41-unit, 1990-vintage asset in West Hollywood leverages best-in-class neighborhood fundamentals—top-tier amenities, high-cost ownership alternatives, and a deep renter base—to support durable demand. According to CRE market data from WDSuite, the surrounding neighborhood ranks among the metro’s leaders on overall quality, and the 3-mile trade area points to an expanding renter pool with rising incomes, aiding collections and lease retention. The vintage is newer than much of the local stock, offering competitive positioning with targeted modernization potential.
Key underwriting considerations include below-average neighborhood occupancy relative to national benchmarks and safety metrics that trail national percentiles. Active leasing management, calibrated rent growth, and thoughtful capex toward unit and system updates can help capture location-driven pricing while mitigating risk.
- Prime Urban Core location with top-tier amenities and schools supporting resident retention
- Deep renter base locally and within 3 miles, reinforcing multifamily demand and occupancy stability
- 1990 construction offers competitive positioning versus older neighborhood stock with value-add upside
- High-cost ownership market supports pricing power for well-managed assets
- Risks: below-average neighborhood occupancy and safety metrics require disciplined leasing and OPEX planning