| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5221 Zelzah Ave, Encino, CA, 91316, US |
| Region / Metro | Encino |
| Year of Construction | 1977 |
| Units | 35 |
| Transaction Date | 2013-11-13 |
| Transaction Price | $2,948,029 |
| Buyer | BLUE SKY RAINBOW LP |
| Seller | THE UROV FAMILY LLC |
5221 Zelzah Ave Encino Multifamily Investment Fundamentals
Neighborhood occupancy remains resilient and renter demand is deep, according to WDSuite s CRE market data, supporting steady income potential for well-managed assets in Encino.
Encino s immediate neighborhood scores in the top quartile among 1,441 Los Angeles metro neighborhoods (A-rated), indicating strong fundamentals for multifamily. Neighborhood occupancy is above national norms with stable performance, and local rents trend higher than much of the country, which supports pricing power for competitive assets while rewarding disciplined operations.
Daily needs are well served: grocery and pharmacy access ranks high nationally, with a healthy mix of restaurants and cafes that sustains convenience-oriented living. School quality trends mid-range, which can still appeal to a broad renter base seeking access to the West Valley s education options. Park density is limited immediately nearby, so outdoor access often relies on private amenities or short drives to regional recreation.
Within a 3-mile radius, households have inched up even as population edged lower, pointing to smaller household sizes and a gradually expanding renter pool. Forward-looking estimates indicate additional household growth, which should support occupancy stability and lease-up efficiency for well-located properties.
Ownership costs are elevated relative to incomes in this part of Los Angeles, which tends to reinforce renter reliance on multifamily housing and can aid retention. Neighborhood renter concentration is high (share of housing units that are renter-occupied), signaling a deep tenant base for a 35-unit property when product quality and management align with local expectations.
Safety indicators are competitive among Los Angeles neighborhoods and sit in the top quartile nationally, based on WDSuite s CRE market data. Recent year-over-year trends show notable decreases in both violent and property offenses, which supports operational stability and resident retention without overreliance on intensive security measures.
As with any urban core location, conditions can vary by block and over time. Investors should incorporate routine monitoring and property-level practices, but the broader neighborhood trajectory compares favorably versus many U.S. areas.
The employment base spans life sciences, insurance, energy, entertainment, and engineering providing diverse white-collar demand drivers and commute convenience that can support leasing and retention for nearby multifamily.
- Thermo Fisher Scientific life sciences instrumentation (4.2 miles)
- Farmers Insurance Exchange insurance (4.8 miles) HQ
- Occidental Petroleum energy (8.6 miles) HQ
- Live Nation Entertainment entertainment (9.5 miles) HQ
- AECOM engineering & infrastructure (9.6 miles) HQ
5221 Zelzah Ave offers exposure to an A-rated Los Angeles neighborhood with above-average occupancy and a high share of renter-occupied housing units at the neighborhood level factors that typically underpin demand depth and lease stability. Built in 1977, the asset is slightly newer than the local average vintage, which can be competitively positioned versus older stock, while prudent capital planning for system modernization or light renovations can enhance its appeal. According to CRE market data from WDSuite, ownership costs remain elevated relative to incomes in the area, a dynamic that tends to sustain multifamily demand.
Regional employment anchors across insurance, life sciences, energy, entertainment, and engineering provide diverse white-collar demand drivers. Looking ahead, a gradual increase in households within a 3-mile radius and smaller average household sizes suggest a larger tenant base and support for occupancy stability, though lease management should account for affordability pressure in parts of the renter base.
- A-rated neighborhood with occupancy and renter concentration supporting steady tenant demand
- 1977 vintage competitive against older stock with potential value-add via modernization
- Diverse nearby employers (insurance, life sciences, energy, entertainment, engineering) bolster leasing and retention
- Household growth and smaller household sizes within 3 miles support a larger renter pool over time
- Risks: affordability pressure for some renters and typical aging-system capex needs for 1970s assets