| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5505 Zelzah Ave, Encino, CA, 91316, US |
| Region / Metro | Encino |
| Year of Construction | 1978 |
| Units | 27 |
| Transaction Date | 2022-10-04 |
| Transaction Price | $11,554,727 |
| Buyer | SUSSEX SHERMAN WAY 32 LLC |
| Seller | CHARING CROSS CAPITAL LLC |
5505 Zelzah Ave Encino Multifamily Investment
This 27-unit property built in 1978 sits in a neighborhood with 96.8% occupancy and strong rental demand, according to CRE market data from WDSuite.
The Encino neighborhood demonstrates strong fundamentals with occupancy at 96.8%, ranking in the 82nd percentile nationally among neighborhoods. With 62.2% of housing units renter-occupied, the area maintains robust rental demand that supports multifamily investments. The neighborhood earned an A rating and ranks in the top quartile among 1,441 Los Angeles-Long Beach-Glendale metro neighborhoods for overall performance.
Built in 1978, this property aligns with the neighborhood's average construction year of 1973, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. The area's median contract rent of $1,754 has grown 17.7% over five years, while maintaining strong occupancy levels that suggest balanced supply and demand dynamics.
Demographics within a 3-mile radius show household income growth potential, with median household income projected to increase 52.2% to $148,704 by 2028. The renter pool expansion supports long-term demand, as forecast data indicates household formation will increase 32.6% over the next five years. Home values averaging $601,620 in the neighborhood help sustain rental demand by maintaining elevated ownership costs that keep households in the rental market.
The neighborhood offers strong amenity access with 4.07 grocery stores per square mile and substantial childcare availability at 2.03 facilities per square mile, both ranking in the 94th and 93rd percentiles nationally. These amenities enhance tenant retention prospects, while the area's Urban Core designation provides access to employment centers and transit connectivity valued by renters.
The neighborhood demonstrates improving safety trends with property offense rates declining 74.4% year-over-year, ranking in the 96th percentile nationally for crime reduction. Violent offense rates also decreased significantly by 93.3%, placing the area in the 99th percentile for improvement among neighborhoods nationwide.
Current crime metrics show the neighborhood ranking 345th among 1,441 metro neighborhoods for overall crime, placing it in the 76th percentile nationally. Property offense rates of 240.6 per 100,000 residents and violent offense rates of 20.8 per 100,000 residents reflect the area's position above metro median for safety performance, supporting tenant retention and leasing stability.
The property benefits from proximity to major corporate offices and headquarters that provide workforce housing demand from professional tenants seeking convenient commute access.
- Thermo Fisher Scientific — life sciences and laboratory services (4.2 miles)
- Farmers Insurance Exchange — insurance services (4.7 miles) — HQ
- Occidental Petroleum — energy and petroleum (8.9 miles) — HQ
- Live Nation Entertainment — entertainment and media (9.7 miles) — HQ
- AECOM — engineering and construction services (9.8 miles) — HQ
This 27-unit property offers investors exposure to a high-performing Encino neighborhood with 96.8% occupancy and strong rental fundamentals. The 1978 construction year presents value-add renovation opportunities while the area's 62.2% renter-occupied housing base supports consistent demand. Demographic projections show household growth of 32.6% and median income increases of 52.2% through 2028, expanding the qualified renter pool.
According to multifamily property research from WDSuite, the neighborhood ranks in the top quartile among 1,441 metro neighborhoods for overall performance, with rent growth of 17.7% over five years and declining crime rates. The property's location near major employers including Farmers Insurance Exchange headquarters and Thermo Fisher Scientific provides workforce housing appeal for professional tenants.
- Strong occupancy at 96.8% with 82nd percentile national ranking
- Value-add potential from 1978 vintage in improving neighborhood
- Projected household growth of 32.6% supporting rental demand
- Proximity to major employers within 10-mile radius
- Risk: Rent-to-income ratio at 8th percentile may limit pricing power