| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 65th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12046 Emelita St, N Hollywood, CA, 91607, US |
| Region / Metro | N Hollywood |
| Year of Construction | 1984 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
12046 Emelita St North Hollywood 24-Unit Multifamily
Neighborhood fundamentals point to steady renter demand, with mid-90s occupancy and a renter-occupied share near two-thirds, according to WDSuite’s CRE market data.
Set in North Hollywood’s Urban Core, the neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods (A- rating), signaling competitive fundamentals for multifamily investors. Restaurants and daily services are well represented (restaurants are strong and pharmacies test high nationally), while parks and cafes are thinner locally—tilting convenience toward errands and dining rather than green space or coffee shop density.
Housing performance metrics are favorable: neighborhood occupancy trends have held in the mid-90s and the renter-occupied share is high, which together support depth of tenant demand and leasing stability. Relative purchasing power and costs suggest a durable rental market: home values are elevated (high-cost ownership market), and value-to-income ratios sit near the top nationally, which typically sustains reliance on rental housing. By contrast, rent-to-income benchmarks are more moderate, a combination that can aid retention and reduce turnover risk.
Amenity access is mixed: groceries and pharmacies score above metro norms, while parks and cafes under-index. Average school ratings run on the lower side, which may skew demand toward young professionals and workforce renters rather than families prioritizing top-rated schools—relevant for unit-mix positioning and marketing.
Within a 3-mile radius, the renter-occupied share is roughly two-thirds and households are projected to increase over the next five years even as average household size trends smaller. This dynamic typically grows the pool of leaseholders and supports occupancy stability. Income levels are rising in the near-term outlook, and contract rents are forecast to advance, which can support revenue management in professionally operated buildings.
The property’s 1984 vintage is newer than the neighborhood’s average stock from the early 1970s, suggesting relative competitiveness versus older assets. Investors should still plan for system modernization and selective renovations to strengthen positioning against newer deliveries.
Safety indicators compare favorably versus much of the Los Angeles metro. Neighborhood crime ranks on the safer side of the 1,441-neighborhood metro distribution, and national comparisons place the area around the top quintile for overall safety. Recent trend data also points to meaningful year-over-year declines in both violent and property incidents, indicating improving conditions rather than deterioration.
As always, investors should underwrite at the submarket level and verify on-the-ground patterns across dayparts and corridors, but current readings suggest conditions that are competitive among Los Angeles neighborhoods with improving momentum nationally.
Proximity to major media and telecom employers underpins renter demand, with convenient commutes to Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Activision Blizzard Studios.
- Charter Communications — telecom (3.3 miles)
- Radio Disney — media (3.5 miles)
- Disney — entertainment (4.2 miles) — HQ
- Live Nation Entertainment — live events (7.0 miles) — HQ
- Activision Blizzard Studios — gaming (7.5 miles)
This 24-unit 1984 asset sits in a Los Angeles metro neighborhood that is competitive for multifamily, with steady occupancy, a high renter-occupied share, and elevated ownership costs that reinforce renter reliance on apartments. Based on CRE market data from WDSuite, local income trends and forecast household growth within a 3-mile radius point to a larger tenant base and support for revenue management, while rent-to-income levels remain moderate enough to aid retention.
The vintage is newer than the area’s early-1970s average, offering relative competitiveness versus older stock; targeted system upgrades and selective unit renovations can further enhance positioning against newer deliveries while maintaining capex discipline.
- Stable neighborhood occupancy and high renter concentration support leasing durability.
- High-cost ownership market sustains rental demand; moderate rent-to-income aids retention.
- 1984 vintage provides competitive positioning versus older stock, with value-add potential via modernization.
- 3-mile outlook points to more households and rising incomes, expanding the tenant base.
- Risks: lower average school ratings and thinner park/cafe access; underwrite for amenity and family-demand sensitivity.