| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11047 Otsego St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1991 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11047 Otsego St North Hollywood Multifamily Opportunity
High renter concentration and a high-cost ownership market in North Hollywood point to durable apartment demand, according to WDSuite’s CRE market data.
Located in an Urban Core pocket of North Hollywood, the property benefits from dense amenity coverage—restaurants, cafes, groceries, and pharmacies score in the top national tiers—supporting day-to-day convenience and renter appeal. Within the Los Angeles-Long Beach-Glendale metro, this neighborhood is competitive on amenity access (ranked against 1,441 metro neighborhoods) while parks and formal childcare options are comparatively limited, which investors should factor into resident profile and marketing strategy.
Renter-occupied housing accounts for a very high share of neighborhood units (85% renter concentration; top quartile nationally), indicating a deep tenant base for multifamily. Neighborhood occupancy trends sit closer to the metro median among 1,441 neighborhoods and have softened in recent years, suggesting the need for active leasing and retention management rather than reliance on automatic lease-ups.
Within a 3-mile radius, households have edged higher over the past five years and are projected to grow further, with forecasts indicating more households and smaller average household sizes—both supportive of a larger tenant base and steadier absorption. Median household incomes in the radius have been rising, and rents are projected to increase as well, reinforcing the importance of affordability management to sustain lease retention as the renter pool expands.
Ownership costs in the immediate neighborhood are elevated relative to national norms, which tends to sustain reliance on rental housing and can support pricing power when paired with strong operations. Average neighborhood NOI per unit sits in the top decile nationally, signaling potential for attractive performance with disciplined expense control. The property’s 1991 vintage is newer than the neighborhood’s average year built, offering relative competitiveness versus older stock while still warranting capital planning for systems modernization.
School ratings in the neighborhood trail national averages, which may matter for family-oriented renters, but proximity to employment centers and transit-heavy corridors typically offsets some of that impact for working professionals.
Based on WDSuite’s CRE market data, the neighborhood trends safer than many areas nationally (around the 73rd percentile for safety) and is competitive among Los Angeles neighborhoods when compared across 1,441 metro neighborhoods. Recent year-over-year readings show notable declines in both violent and property offenses, which supports a constructive outlook if those improvements persist.
Investors should note that property offenses remain a more prominent component of local incidents than violent offenses, so standard property security measures and resident communication can help sustain retention and minimize disruption.
Proximity to major media and telecommunications employers supports a steady renter pipeline of professionals seeking commute convenience. Nearby anchors include Radio Disney, Disney, Charter Communications, and Live Nation Entertainment.
- Radio Disney — media & entertainment (1.8 miles)
- Disney — media & entertainment (2.7 miles) — HQ
- Charter Communications — telecommunications (2.9 miles)
- Live Nation Entertainment — media & entertainment (4.6 miles)
- Live Nation Entertainment — media & entertainment (6.3 miles) — HQ
This 48-unit, 1991-vintage asset sits in an amenity-rich North Hollywood neighborhood where renter concentration is among the highest in the metro, supporting demand depth and leasing velocity. Elevated local home values reinforce sustained reliance on multifamily rentals, while neighborhood NOI per unit ranks in the top decile nationally—indicative of operational potential when paired with disciplined expense management. According to CRE market data from WDSuite, the broader area shows nationally above-average safety with improving offense trends, which can aid retention.
Forward-looking 3-mile trends point to a larger renter base as households grow and average household sizes drift lower, while rising incomes and projected rent growth call for careful affordability and renewal strategies. The 1991 construction offers relative competitiveness versus older stock nearby, with value-add potential through targeted common-area updates and system modernization.
- High renter concentration and amenity density support year-round leasing demand
- Elevated ownership costs sustain rental reliance and pricing power potential
- Safety trends improving and nationally above average, aiding retention
- 1991 vintage with value-add upside via modernization against older local stock
- Risks: occupancy near metro median, weaker local school ratings, and affordability pressure require active leasing and renewal management