| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11109 Otsego St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1989 |
| Units | 39 |
| Transaction Date | 2001-05-23 |
| Transaction Price | $4,700,000 |
| Buyer | OTSEGO VILLAS LP |
| Seller | NOHO STAR LLC |
11109 Otsego St, North Hollywood Multifamily Opportunity
Renter demand is supported by an urban amenity base and a high renter-occupied share in the surrounding neighborhood, according to WDSuite’s CRE market data. Positioning focuses on steady leasing potential with pricing power influenced by a high-cost ownership market in Los Angeles.
Located in North Hollywood’s Urban Core (neighborhood rating: A-), the property sits within a corridor known for dense amenities and a renter-centric housing mix. Cafes, restaurants, and grocery options are abundant—restaurant and cafe density ranks competitive among 1,441 Los Angeles-Long Beach-Glendale neighborhoods and reaches the 99th percentile nationally—supporting convenience for residents and depth of tenant demand. Pharmacy access also places well above national averages, though dedicated parks and childcare options are limited, which may matter for certain tenant profiles.
The surrounding neighborhood shows a high concentration of renter-occupied units (around 85% by tenure), indicating a broad local renter base for multifamily assets. Neighborhood occupancy is near the national midpoint and has trended softer over five years, suggesting the need for active leasing and renewal management. At the same time, NOI per unit trends test strong, with the area positioned in a high national percentile, signaling that well-operated assets can compete effectively on revenue and expense control.
Within a 3-mile radius, demographics indicate a large and diverse household base with recent household growth alongside modest population movement. Forecasts point to increases in households and incomes by 2028, with smaller average household sizes—factors that typically expand the renter pool and support occupancy stability for well-located properties. Median contract rents in the radius are projected to grow, which, paired with income gains, can underpin rent roll durability for competitive assets.
Home values in the immediate neighborhood sit in a high national percentile, reflecting a high-cost ownership market. For investors, elevated ownership costs sustain reliance on rental housing and can support lease retention and pricing power at well-managed communities. School ratings in the neighborhood trail national benchmarks, so assets may resonate more with adult households and renter profiles prioritizing proximity to jobs, dining, and services.
Neighborhood safety indicators compare favorably to many parts of the Los Angeles metro, with overall crime levels competitive among 1,441 metro neighborhoods and solidly above the national median. Recent year-over-year estimates indicate notable declines in both property and violent offense rates, which is an encouraging trend for tenant retention and leasing.
That said, property offense levels remain mixed versus national comparisons, so prudent measures such as lighting, access controls, and resident engagement can help maintain performance. As always, conditions can vary block to block; investors should review property-specific security features and recent local trends as part of due diligence.
Nearby media and corporate offices provide a deep white-collar employment base that supports weekday demand and short commutes for renters, including Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Avery Dennison.
- Radio Disney — corporate offices (1.9 miles)
- Disney — corporate offices (2.8 miles) — HQ
- Charter Communications — corporate offices (3.0 miles)
- Live Nation Entertainment — corporate offices (4.6 miles)
- Avery Dennison — corporate offices (6.7 miles) — HQ
Built in 1989, the 39-unit property offers larger average floor plans relative to many urban assets and benefits from a neighborhood with strong amenity density and a deep renter pool. The vintage is slightly newer than the neighborhood average, suggesting competitive positioning versus older stock while leaving room for targeted modernization of interiors and systems to drive rent and retention. Based on CRE market data from WDSuite, the surrounding area combines high home values with robust food-and-beverage access, which supports renter reliance on multifamily housing and can translate into steadier leasing for well-operated properties.
Within a 3-mile radius, household counts and incomes are projected to rise while average household size trends smaller—conditions that typically expand the renter base and support occupancy stability. Neighborhood occupancy has softened versus five years ago, so proactive asset management remains important; however, the submarket’s high renter-occupied share and competitive amenity access provide durable fundamentals for long-term hold strategies.
- Renter-centric location with high tenure share supports depth of demand and leasing velocity.
- Slightly newer 1989 vintage enables value-add through selective renovations while remaining competitive to older stock.
- High-cost ownership market reinforces pricing power and lease retention potential for quality units.
- Amenity-rich Urban Core setting (strong F&B and grocery access) enhances resident appeal and renewal odds.
- Risks: softer neighborhood occupancy trend and limited parks/childcare options warrant active leasing, resident programming, and asset-specific upgrades.