| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Poor |
| Demographics | 31st | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7660 Lankershim Blvd, N Hollywood, CA, 91605, US |
| Region / Metro | N Hollywood |
| Year of Construction | 1979 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7660 Lankershim Blvd N Hollywood Multifamily Investment
This 72-unit property built in 1979 operates in a renter-dominant neighborhood with 43.3% rental occupancy, positioning it within Los Angeles County's established multifamily market according to CRE market data from WDSuite.
The North Hollywood neighborhood demonstrates mixed fundamentals with a C- rating among 1,441 metro neighborhoods. Rental occupancy stands at 43.3% of housing units, ranking in the 83rd percentile nationally, indicating strong renter demand dynamics. However, neighborhood-level occupancy has declined to 81.2%, down 12.2% over five years, suggesting absorption challenges that warrant monitoring for lease-up velocity and renewal rates.
Demographics within a 3-mile radius show a population of approximately 194,400 with modest household income growth. Median household income reached $70,057 in 2023, up 38.5% from 2018, though this trails regional averages. Forecasted income growth to 2028 projects continued improvement to $102,599, potentially supporting rent growth and tenant retention over the investment horizon.
The property's 1979 construction year aligns with the neighborhood average of 1959, indicating established building stock that may present value-add renovation opportunities. Median home values of $691,000 represent elevated ownership costs that can sustain rental demand, particularly given the 11.3 value-to-income ratio ranking in the 99th percentile nationally. This pricing dynamic reinforces renter reliance on multifamily housing in the submarket.
Local amenities support tenant appeal with 6.14 grocery stores per square mile ranking in the 97th percentile nationally and adequate childcare density. However, limited park access and cafe availability may impact competitive positioning against newer developments with enhanced amenity packages.
The neighborhood demonstrates improving safety trends with property crime rates declining 74.6% year-over-year and violent crime dropping 92.2%, both ranking in the top quartile nationally for crime reduction. Current property offense rates of 124 per 100,000 residents place the area in the 63rd percentile nationally, indicating moderate safety performance relative to comparable neighborhoods.
While recent crime reduction trends are encouraging for tenant retention and leasing velocity, investors should monitor whether these improvements represent sustained patterns or temporary fluctuations when evaluating long-term rental demand stability.
The North Hollywood submarket benefits from proximity to major entertainment and corporate employers, supporting workforce housing demand from media professionals and corporate employees.
- Charter Communications — telecommunications (2.6 miles)
- Radio Disney — media & entertainment (4.7 miles)
- Disney — entertainment & media (5.1 miles) — HQ
- Live Nation Entertainment — entertainment services (7.9 miles)
- Avery Dennison — materials & packaging (8.3 miles) — HQ
This 72-unit North Hollywood property presents a mixed investment profile anchored by strong regional rental demand fundamentals and proximity to major entertainment employers. The neighborhood's 43.3% rental occupancy share ranks in the 83rd percentile nationally, indicating established renter preference, while elevated home values sustain rental demand by reinforcing multifamily housing reliance. The 1979 vintage offers potential value-add opportunities through strategic renovations to capture rent premiums in a market where median rents have grown 31.4% over five years according to multifamily property research from WDSuite.
However, declining neighborhood occupancy trends and below-average demographic metrics require careful lease management and competitive positioning strategies. Forecasted household income growth to $102,599 by 2028 and continued population expansion within the 3-mile radius support longer-term rental demand, particularly given the property's access to entertainment industry employment centers.
- Strong regional rental preference with 43.3% of housing units renter-occupied
- Proximity to major entertainment employers including Disney and Live Nation
- Value-add renovation potential in 1979-vintage building
- Elevated ownership costs sustain rental demand dynamics
- Risk: Declining neighborhood occupancy trends require active lease management