| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11035 W Hesby St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1990 |
| Units | 36 |
| Transaction Date | 2000-06-19 |
| Transaction Price | $3,385,000 |
| Buyer | PLAZA 6000 PARTNERS |
| Seller | 11041 HESBY ASSOC L P |
11035 W Hesby St, North Hollywood Multifamily Opportunity
High renter concentration in the immediate neighborhood and a high-cost ownership market point to durable tenant demand, according to WDSuite’s CRE market data. Positioning and operations that emphasize retention can help navigate mixed occupancy trends while leveraging strong local amenities.
Situated in North Hollywood’s Urban Core, the property benefits from a deep renter base and strong neighborhood amenities. Cafes and restaurants are dense (both in the top tier nationally), which supports walkability and everyday convenience. Within the Los Angeles-Long Beach-Glendale metro, overall neighborhood performance is competitive among 1,441 metro neighborhoods, and amenity access ranks above the metro median, reinforcing lifestyle appeal for renters.
Renter-occupied housing is high locally (renter concentration at the neighborhood level sits near the top of Los Angeles areas), indicating a broad tenant pool and sustained leasing interest for multifamily. Neighborhood rents trend on the higher side relative to national benchmarks, while median home values are elevated, a combination that typically sustains demand for professionally managed rentals and can support pricing power with careful lease management.
Operations indicators are favorable for income generation: neighborhood NOI per unit is in the top quartile nationally, suggesting that well-run assets can perform competitively on a per-unit basis. That said, the neighborhood’s occupancy has softened versus five years ago, so investors should prioritize resident experience and renewal strategies to stabilize tenancy.
Within a 3-mile radius, demographics show a sizable population with a growing household base and rising incomes, supporting a larger tenant pool over time. Forecasts point to additional household growth through 2028, which typically supports occupancy stability for well-located multifamily assets. School ratings in the immediate area trail national medians, which can matter for certain renter cohorts but is often less decisive for young-professional and workforce segments common in infill Los Angeles.
Safety signals are mixed but improving. Overall crime conditions are competitive among Los Angeles neighborhoods (ranked in the better tier relative to 1,441 metro neighborhoods) and compare favorably versus many U.S. neighborhoods nationally. Recent data also shows notable one-year declines in violent incidents, indicating a strengthening trend.
Property crime levels remain an area to monitor, as they compare less favorably than national medians even as trends improve. For underwriting, the takeaway is to maintain prudent security and property management practices while recognizing that recent momentum has been positive according to CRE market data from WDSuite.
Proximity to major entertainment and media employers helps underpin renter demand and retention through commute convenience. Nearby anchors include Radio Disney, Disney, Charter Communications, and Live Nation Entertainment.
- Radio Disney — media (1.8 miles)
- Disney — media & entertainment (2.7 miles) — HQ
- Charter Communications — telecommunications (3.0 miles)
- Live Nation Entertainment — entertainment offices (4.5 miles)
- Live Nation Entertainment — entertainment — HQ (6.3 miles)
11035 W Hesby St is a 36-unit multifamily asset built in 1990, positioned within an amenity-rich pocket of North Hollywood. Elevated home values in the neighborhood and a high renter-occupied share indicate depth in the tenant base, while NOI per unit performance sits in the top quartile nationally for the neighborhood. According to CRE market data from WDSuite, occupancy at the neighborhood level has softened from prior years, making renewal execution and resident experience key to maintaining stability.
Vintage relative to the area’s slightly older average suggests competitive positioning versus 1980s stock, though investors should plan for modernization of systems and common areas to capture value-add upside. Within a 3-mile radius, projections call for additional household growth and rising incomes by 2028, supporting renter pool expansion. Higher rent-to-income ratios locally warrant attention to affordability and lease management to balance pricing with retention.
- Amenity-dense, renter-heavy location supports steady leasing and renewal prospects.
- Neighborhood NOI per unit ranks top quartile nationally, signaling income-generation potential.
- 1990 vintage offers competitive positioning versus older stock with value-add modernization potential.
- 3-mile household growth and income gains support a larger tenant base over the medium term.
- Risks: recent occupancy softening, below-median school ratings, and affordability pressure require active asset management.