| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11055 W Otsego St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1991 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | $2,100,000 |
| Buyer | APARTMENTS-94 WINDFAIRE |
| Seller | SBS REALTY INC |
11055 W Otsego St North Hollywood Multifamily Investment
This 49-unit property built in 1991 sits in a neighborhood with 85% rental occupancy and strong renter demand fundamentals. Commercial real estate analysis from WDSuite indicates the area ranks in the top quartile nationally for educated residents and rental housing density.
North Hollywood's neighborhood fundamentals support sustained rental demand, with 85% of housing units occupied by renters compared to just 33% regional ownership rates. The area ranks 22nd among 1,441 metro neighborhoods for rental share, placing it in the 99th percentile nationally. Demographics within a 3-mile radius show 67% of households rent rather than own, creating a deep tenant pool for multifamily properties.
The property's 1991 construction year aligns closely with the neighborhood average of 1984, positioning it within established building stock that may offer value-add renovation opportunities. Current median contract rents of $2,182 have grown 38% over five years, though rent-to-income ratios suggest affordability pressures that require careful lease management and retention strategies.
Neighborhood amenities support tenant retention with exceptional restaurant and cafe density - ranking in the 99th percentile nationally with 62 restaurants and 6.9 cafes per square mile. However, the area shows gaps in family-oriented amenities, ranking last metro-wide for childcare facilities and parks. The educated resident base, with 46% holding bachelor's degrees (99th percentile nationally), provides a stable professional tenant demographic.
Forward-looking demographics within the 3-mile radius project household growth of 37% through 2028, expanding from 88,000 to 120,000 households. This growth, combined with forecast median household income increases to $130,479, suggests continued rental demand despite some competitive pressure from the area's high median home values of $903,000.
Crime metrics show mixed signals requiring careful consideration. The neighborhood ranks 440th of 1,441 metro neighborhoods for overall crime, placing it in the 73rd percentile nationally - indicating above-average safety compared to other metro areas nationwide. Property crime rates have declined substantially, falling 78% year-over-year, while violent crime rates dropped 98% over the same period.
Current property offense rates of 547 incidents per 100,000 residents rank in the middle tier among metro neighborhoods (35th percentile nationally), while violent crime rates of 20 incidents per 100,000 residents perform better at the 59th percentile nationally. The dramatic year-over-year improvements in both categories suggest positive safety trends, though investors should monitor whether these improvements sustain over time.
The North Hollywood submarket benefits from proximity to major entertainment and corporate employers, supporting workforce housing demand within commuting distance of established job centers.
- Radio Disney — entertainment media (1.9 miles)
- Disney — entertainment & media (2.8 miles) — HQ
- Charter Communications — telecommunications (3.0 miles)
- Live Nation Entertainment — entertainment services (4.6 miles)
- Live Nation Entertainment — entertainment services (6.3 miles) — HQ
This 49-unit North Hollywood property offers exposure to a rental-dominant market with strong demographic fundamentals and proximity to major employment centers. The neighborhood's 85% rental occupancy rate and 99th percentile ranking for renter-occupied housing units indicate sustained multifamily demand, while the educated resident base (46% with bachelor's degrees) supports income stability. According to CRE market data from WDSuite, the area's average net operating income of $13,482 per unit ranks in the 92nd percentile nationally, suggesting strong cash flow potential.
The 1991 construction vintage presents value-add opportunities through strategic capital improvements, while projected household growth of 37% through 2028 within the 3-mile radius supports long-term tenant demand. However, investors should monitor rent-to-income ratios and consider retention strategies given affordability pressures in this high-cost market.
- Rental-dominant market with 85% of units occupied by renters, ranking 99th percentile nationally
- Proximity to Disney headquarters and major entertainment employers within 3 miles
- Strong NOI performance averaging $13,482 per unit (92nd percentile nationally)
- Projected 37% household growth through 2028 supporting tenant demand
- Rent-to-income ratios require active lease management and retention focus