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    AI-Generated Neighborhood Summary

    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.

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    StreetView
    Neighborhood Insights
    Key metrics about this location

    Neighborhood 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

    $NaN

    Walk Score

    -

    Bike Score

    -

    Median Household Income

    $34,056
    Nat'l Avg: $69,021

    Percent Under Poverty

    18%
    Nat'l Avg: 12%

    Median Contract Rent

    $1,245
    Nat'l Avg: $988

    Owners vs Renters

    1% / 83%
    Nat'l Avg: 57% / 31%

    Vacant Housing Units

    16%
    Nat'l Avg: 11%

    Unemployment Rate

    3%
    Nat'l Avg: 3%

    College Degree

    28%
    Nat'l Avg: 21%

    Dominant Race

    Asian
    Nat'l Avg: 68%

    Married-Couple Families

    27%
    Nat'l Avg: 48%

    Owners Without Morgages

    100%
    Nat'l Avg: 38%

    Mortgage ≥ 30% Income

    0%
    Nat'l Avg: 27%

    Rent ≥ 30% Income

    N/A
    Nat'l Avg: 46%

    Non-US Citizens

    16%
    Nat'l Avg: 7%
    Location Map
    Overview of the neighborhood
    Nearby Places
    Essential locations and points of interest in the area

    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

    Neighborhood Assessment
    Key advantages and considerations for this area

    Dynamic Insights

    Completed in 1969, the Equitable Life Building at 3435 Wilshire Blvd is a 34-story, 138-meter-tall skyscraper designed by Welton Becket & Associates.
    Originally housing the Equitable Life Insurance Company, the building has transitioned through various ownerships and tenants over the decades.
    In 2024, the building faced financial challenges, with an $87.5 million loan sent to special servicing due to an imminent maturity default.
    As of 2025, the building's occupancy rate has declined, reflecting broader trends in the Los Angeles office market. These insights highlight the building's architectural significance, historical transitions, recent financial difficulties, and current market positioning.

    Custom Narratives

    Equitable Life Building, completed in 1969, is a 34-story office tower located at 3435 Wilshire Boulevard in Los Angeles' Koreatown neighborhood.
    The building has experienced a decline in occupancy, dropping from 67% in 2021 to 57% in 2023, leading to financial challenges for its owner, Jamison Properties.
    Koreatown is known for its vibrant nightlife, diverse community, and historic architecture, contributing to the area's unique cultural appeal.
    The building's proximity to major freeways and public transportation offers convenient access for tenants and visitors, enhancing its attractiveness as a commercial property. These insights highlight the building's architectural significance, current market challenges, and the dynamic community attributes of its Koreatown location.

    Green Flags

    Prime location with easy access to downtown LA
    Modern amenities and high-quality facilities
    Diverse dining and shopping options nearby
    Proximity to public transportation hubs

    Red Flags

    High traffic congestion in the area
    Noise from nearby bustling streets
    Limited parking availability
    Higher cost of living due to location
    Flood Risk Assessment
    FEMA flood zone information and historical flooding data

    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.

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