| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 76th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10828 W Otsego St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | 2015-07-13 |
| Transaction Price | $6,775,000 |
| Buyer | 10828 OTSEGO LLC |
| Seller | MARK GARY |
10828 W Otsego St North Hollywood Multifamily Investment
This 27-unit property benefits from strong neighborhood-level occupancy at 93.6% and proximity to major entertainment employers. The area's 77% rental share supports tenant retention in a market where commercial real estate analysis indicates sustained renter demand.
The North Hollywood neighborhood ranks 104th among 1,441 Los Angeles metro neighborhoods, earning an A rating for overall investment fundamentals. With a 93.6% neighborhood-level occupancy rate and 77% rental share, the area demonstrates strong tenant retention dynamics that support multifamily stability. The median contract rent of $2,028 positions well within metro ranges while maintaining affordability relative to the $993,373 median home values.
Built in 1985, this property aligns with the neighborhood's average construction year of 1982, minimizing obsolescence risk while offering potential value-add renovation opportunities. Demographics within a 3-mile radius show a stable population base of approximately 197,000 residents, with projections indicating 6.4% population growth and 36.8% household formation through 2028. This expanding renter pool, combined with median household incomes projected to reach $131,650, supports demand for workforce housing in the entertainment corridor.
The neighborhood ranks in the 78th national percentile for amenity access, with strong grocery store density (6.42 per square mile) and restaurant availability supporting tenant appeal. Educational infrastructure averages 2.5 out of 5 stars, which is competitive among metro neighborhoods. The area's urban core designation provides transit connectivity while maintaining the density that supports multifamily absorption rates.
The neighborhood demonstrates improving safety trends, ranking 357th among 1,441 Los Angeles metro neighborhoods for overall crime metrics, placing it in the 76th national percentile. Property crime rates show significant improvement with an 81.1% decline year-over-year, while violent crime decreased by 96% over the same period, indicating strengthening community conditions.
Current property offense rates of approximately 307 incidents per 100,000 residents position the area competitively within the metro context. The substantial crime reduction trends suggest ongoing neighborhood stabilization that can support tenant retention and property values over the investment horizon.
The property benefits from proximity to major entertainment and corporate employers that anchor North Hollywood's employment base, providing diverse tenant demand from media, telecommunications, and corporate services sectors.
- Radio Disney — media & entertainment (1.6 miles)
- Disney — entertainment & media (2.4 miles) — HQ
- Charter Communications — telecommunications (2.9 miles)
- Live Nation Entertainment — entertainment services (4.4 miles)
- Avery Dennison — manufacturing & materials (6.3 miles) — HQ
This North Hollywood property presents a compelling value-add opportunity in a stabilizing entertainment corridor market. The neighborhood's 93.6% occupancy rate exceeds many metro averages, while the 77% rental share indicates strong tenant retention fundamentals. According to CRE market data from WDSuite, the area's demographic projections show 36.8% household growth through 2028, expanding the potential renter base significantly.
The 1985 construction year aligns with neighborhood norms while positioning the asset for targeted renovations that could capture upside from the area's projected median rent growth to $2,532. Proximity to Disney headquarters and other entertainment employers within 2.5 miles provides diverse tenant demand, while improving crime trends support long-term neighborhood appreciation potential.
- Strong occupancy fundamentals with 93.6% neighborhood rate and 77% rental share
- Projected 36.8% household growth through 2028 expanding renter demand
- Value-add potential from 1985 vintage with renovation upside opportunities
- Entertainment corridor location near Disney HQ and major employers
- Risk: Below-average school ratings may limit family tenant appeal