The Equitable Life Building at 3435 Wilshire Blvd is located in the Koreatown neighborhood of Los Angeles, CA. Koreatown is a vibrant area known for its diverse culture, dining options, and entertainment venues. The neighborhood is centrally located with easy access to Downtown Los Angeles, Hollywood, and other parts of the city via public transportation and major roads.
The crime rate in Koreatown is generally higher than the national average, as is common in many urban areas. However, it varies by specific area, and there are safer parts within the neighborhood. The Los Angeles Unified School District serves the area, with mixed ratings for schools depending on the specific institution, often ranging from below average to above average. For amenities, you'll find a host of Korean barbecue restaurants, karaoke bars, and cultural landmarks. Nearby, the Wilshire/Vermont metro station offers convenient access to other parts of LA. Grocery stores, parks like Lafayette Park, and attractions such as the Wiltern Theatre add to the locale's appeal.
The average household income in Koreatown is generally lower than some of the more affluent areas of Los Angeles but reflects the diversity of the population. Nearby neighborhoods like Downtown LA and Westlake have varying income levels, with Downtown typically seeing higher averages. Job growth in the Koreatown area has been steady, with many opportunities in retail, food service, and entertainment due to the area's dense commercial activity. Overall, Koreatown is a lively and culturally rich neighborhood with much to offer in terms of amenities and opportunities.
Read lessNeighborhood Summary
Nestled in an area defined by a unique blend of cultural diversity and economic challenges, this neighborhood presents a fascinating profile for potential homebuyers and investors. With a median household income of $34,056, the area falls below the national average, highlighting the economic constraints faced by many residents. This is further underscored by the 18% of individuals living under the poverty line, which exceeds national levels and suggests a community grappling with financial inequalities. Housing dynamics in the neighborhood reflect these economic pressures, where a striking 83% of residents are renters compared to just 1% who own their homes, a significant contrast to the national homeowner ratio. With 16% of housing units reported as vacant, there appears to be an abundance of unoccupied properties, which could indicate opportunities for real estate acquisition and development for those willing to invest in revitalization efforts.
The neighborhood's educational attainment, with 28% of residents holding a college degree, is slightly below the national average, yet it represents a considerable proportion of the community's workforce potentially contributing to the local economy. Moreover, the unemployment rate stands at a relatively low 3%, aligning favorably with national trends, suggesting that despite economic challenges, employment opportunities do exist. The presence of a diverse population is highlighted by the fact that the dominant racial demographic is Asian, accompanied by a significant 16% of residents who are non-U.S. citizens, reflecting a rich multicultural fabric that might appeal to those seeking a vibrant community life.
Living conditions are further characterized by a median contract rent of $1,245, which is fairly competitive depending on the local housing market, though the exact figure compared to national averages would require additional context. With a relatively low percentage (27%) of married-couple families, the neighborhood's demographic skew implies a variety of household types, possibly favoring singles, shared living arrangements, or non-traditional family structures. Interestingly, 100% of homeowners are without mortgages, which is an anomaly that may intrigue potential buyers or investors seeking stable long-term tenants or partners.
However, for those discouraged by the higher poverty rates or the rental-dominated landscape, exploring alternative neighborhoods with similar median home prices but improved metrics could prove worthwhile. Areas known for higher incomes, more balanced owner-renter ratios, and lower vacancy rates might provide a more promising investment climate for those prioritizing economic stability and long-term growth potential. In conclusion, while this neighborhood presents distinct challenges, it also offers unique opportunities for those willing to embrace its diversity and untapped potential, making it well worth consideration for the discerning investor or homebuyer.
Median Home Price
Walk Score
Bike Score
Median Household Income
Percent Under Poverty
Median Contract Rent
Owners vs Renters
Vacant Housing Units
Unemployment Rate
College Degree
Dominant Race
Married-Couple Families
Owners Without Morgages
Mortgage ≥ 30% Income
Rent ≥ 30% Income
Non-US Citizens
MacArthur Park
park
Good Samaritan Hospital
hospital
Ralphs
grocery store
The Boiling Crab
restaurant
LA Fitness
gym
Los Angeles International Airport
international airport
Robert Louis Stevenson Middle School
school
The Wiltern
main attraction
Dynamic Insights
Custom Narratives
Green Flags
Red Flags
Flood Zone
Flood zone information is not available for this property at this time.
Historical Flooding
Historical flood damage records are not available for this property.
Upgrade to Starter Plan
Access to 15 property reports per month
Detailed neighborhood demographics and lifestyle data
School ratings and educational opportunities
Crime statistics and safety assessment
Property value trends and investment potential
Flood risk analysis and FEMA zone information
AI-powered recommendations and insights
Monthly subscription. Download and save reports, access interactive features, and receive monthly market updates.
Cancel anytime. No long-term commitment required.