| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11035 Otsego St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1988 |
| Units | 36 |
| Transaction Date | 2014-06-26 |
| Transaction Price | $10,000,100 |
| Buyer | THE COELER TRUST |
| Seller | NOHO HOUSE PROPERTY OWNER LLC |
11035 Otsego St North Hollywood Multifamily Investment
This 36-unit property sits in an urban core neighborhood with 85% renter occupancy and strong educational demographics. According to CRE market data from WDSuite, the area shows resilient rental demand fundamentals despite elevated housing costs.
Located in North Hollywood's urban core, this neighborhood ranks in the top quartile nationally for renter concentration, with 85% of housing units occupied by renters. The area demonstrates strong educational demographics, with 46.3% of residents holding bachelor's degrees—placing it in the 99th percentile nationally. Median household income of $81,749 supports rental affordability, while the neighborhood's A- rating reflects balanced fundamentals across key metrics.
Built in 1988, this property aligns with the neighborhood's average construction year of 1984, indicating consistent building stock that may present value-add renovation opportunities. The area's amenity density supports tenant retention, with 62 restaurants per square mile and 8.6 grocery stores per square mile—both ranking in the 99th percentile nationally. However, the absence of parks and limited childcare facilities may affect family tenant appeal.
Within a 3-mile radius, demographic statistics show a stable population of approximately 206,000 residents, with projections indicating 5.6% growth through 2028. The forecast anticipates household growth of 36.8% and median income increases to $130,557, supporting rental demand expansion. Current median rents of $1,849 are projected to rise to $2,507, suggesting pricing power potential while maintaining relative affordability compared to ownership costs.
Neighborhood-level occupancy of 90.1% reflects stable rental demand, though this represents a decline from previous levels. The rent-to-income ratio of 32% indicates affordability pressure that requires careful lease management. High home values at $902,574 median reinforce rental demand by keeping ownership costs elevated relative to renter incomes.
Crime metrics show the neighborhood performing above metro median for overall safety, ranking 440th among 1,441 Los Angeles metro neighborhoods and achieving the 73rd percentile nationally. Property crime rates have declined significantly, dropping 77.7% year-over-year and ranking in the 97th percentile nationally for crime reduction trends.
Violent crime rates remain moderate at approximately 20 incidents per 100,000 residents, placing the area near the metro median. The substantial 97.5% decline in violent crime rates year-over-year indicates improving safety conditions that may support tenant retention and leasing stability.
Major entertainment and media employers anchor the local workforce, providing stable employment for the area's educated renter base.
- Radio Disney — media & entertainment (1.9 miles)
- Disney — entertainment & media (2.7 miles) — HQ
- Charter Communications — telecommunications (3.0 miles)
- Live Nation Entertainment — entertainment services (4.6 miles)
- Avery Dennison — industrial manufacturing (6.6 miles) — HQ
This 1988-vintage property operates in a fundamentally strong rental market supported by high educational attainment and proximity to major entertainment industry employers. The neighborhood's 85% renter concentration and elevated home values create structural rental demand, while demographic projections show household growth of 36.8% through 2028. According to multifamily property research from WDSuite, the area's A- neighborhood rating reflects balanced investment fundamentals despite some affordability pressure.
The 36-unit building's construction year aligns with neighborhood norms, potentially offering value-add renovation upside given the area's strong demographic profile and employment base. Declining crime rates and exceptional amenity density support tenant retention, though investors should monitor the rent-to-income ratio of 32% for lease renewal sensitivity.
- High-education renter base with 46.3% holding bachelor's degrees
- Proximity to Disney headquarters and entertainment industry employers
- Projected household growth of 36.8% supporting rental demand
- Value-add potential from 1988 construction year
- Risk: Affordability pressure with 32% rent-to-income ratio requires lease management focus