| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 76th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10656 W Moorpark St, North Hollywood, CA, 91602, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1991 |
| Units | 40 |
| Transaction Date | 2003-11-20 |
| Transaction Price | $6,750,000 |
| Buyer | Toluca Palms Inc. |
| Seller | 6827 Leland Way LLC |
10656 W Moorpark St North Hollywood Multifamily Investment
This 40-unit property benefits from strong neighborhood rental demand, with 77% of housing units occupied by renters and above-average net operating income per unit according to CRE market data from WDSuite.
Located in North Hollywood's urban core, this neighborhood demonstrates solid fundamentals for multifamily investors. The area ranks in the top quartile nationally for amenity access, with strong grocery store density and restaurant availability supporting tenant retention. Median contract rent reached $2,028, reflecting the neighborhood's position in a competitive rental market within the Los Angeles metro.
Built in 1991, this property aligns with the neighborhood's average construction vintage of 1982, positioning it well within the established housing stock without immediate major capital expenditure concerns. The area maintains a 93.6% occupancy rate with 77% of housing units occupied by renters, indicating sustained rental demand in this urban core location.
Demographics within a 3-mile radius show a stable renter base with 168,695 residents and median household income of $100,307. Forecasts project population growth to 183,432 by 2028, representing an 8.7% increase that should expand the tenant pool. The area's 42% share of residents with bachelor's degrees ranks in the 98th percentile nationally, supporting income stability and lease renewal rates.
Home values averaging $993,373 with a value-to-income ratio of 11.7 reinforce rental demand, as elevated ownership costs keep households in the rental market. The neighborhood's A-rating and top quartile performance among 1,491 metro neighborhoods reflect its competitive position for long-term multifamily investment.
Safety metrics show improving trends that support tenant retention and property values. Property crime rates declined 81% year-over-year, while violent crime dropped 96%, positioning this neighborhood above metro averages for crime reduction. The neighborhood ranks in the 76th percentile nationally for overall crime performance among comparable urban areas.
These positive safety trends, combined with the area's urban core amenities and high educational attainment, create an environment conducive to stable occupancy and competitive lease rates in the North Hollywood market.
The North Hollywood area benefits from proximity to major entertainment and corporate employers, providing workforce housing opportunities within commuting distance of significant job centers.
- Radio Disney — entertainment media (1.3 miles)
- Disney — entertainment conglomerate (2.3 miles) — HQ
- Live Nation Entertainment — live entertainment (3.6 miles)
- Charter Communications — telecommunications (3.6 miles)
- Live Nation Entertainment — live entertainment (5.6 miles) — HQ
This 40-unit North Hollywood property offers compelling fundamentals in an established rental market. The 1991 construction year positions the asset for value-add opportunities while avoiding immediate major capital needs. Strong neighborhood metrics include 77% renter occupancy and net operating income per unit averaging $13,720, ranking in the 92nd percentile nationally. Population growth projections of 8.7% through 2028 should expand the tenant base, while high home values relative to income reinforce rental demand dynamics.
The property benefits from North Hollywood's A-rated neighborhood fundamentals, including top quartile amenity access and improving safety trends. According to multifamily property research from WDSuite, the area's educational profile and employment proximity to entertainment industry anchors support income stability and lease renewal potential.
- Strong rental market with 77% renter-occupied units and 93.6% neighborhood occupancy
- Value-add potential with 1991 vintage in established neighborhood
- Projected 8.7% population growth supporting tenant demand through 2028
- Risk consideration: High rent-to-income ratios may impact renewal rates and require active lease management