| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 76th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11115 Aqua Vista St, North Hollywood, CA, 91602, US |
| Region / Metro | North Hollywood |
| Year of Construction | 2004 |
| Units | 35 |
| Transaction Date | 2012-02-02 |
| Transaction Price | $12,600,000 |
| Buyer | AQUA VISTA APARTMENTS LLC |
| Seller | ASLEW DEVELOPMENT LLC |
11115 Aqua Vista St North Hollywood Multifamily Investment
This 35-unit property built in 2004 sits in a neighborhood ranking in the top quartile nationally for amenities and housing fundamentals. Strong rental demand is supported by 77% renter occupancy and proximity to major entertainment industry employers.
The North Hollywood submarket demonstrates solid fundamentals for multifamily investors, with neighborhood-level occupancy at 93.6% and renter-occupied units comprising 77% of housing stock. Based on CRE market data from WDSuite, the area ranks in the top quartile among 1,441 metro neighborhoods for overall housing metrics, reflecting strong rental demand dynamics.
Demographics within a 3-mile radius show a mature renter base, with 27% of residents aged 18-34 and median household income of $101,541. Population projections indicate 9.6% growth through 2028, supporting expansion of the tenant pool. The high concentration of renter-occupied units reinforces sustained demand for multifamily housing in this urban core location.
Amenity density supports tenant retention, with the neighborhood ranking in the 78th percentile nationally for overall amenities. Grocery stores, restaurants, and cafes are well-represented, with 6.4 grocery stores per square mile and nearly 20 restaurants per square mile. The property's 2004 construction year aligns with neighborhood norms, minimizing near-term capital expenditure needs while maintaining competitive positioning.
Rent trends show stability with median contract rents at $2,028, though the rent-to-income ratio of 0.30 suggests some affordability pressure that investors should monitor for lease retention and renewal rates. Home values averaging $993,373 with 44.6% five-year appreciation reinforce rental demand by maintaining elevated ownership costs relative to renting.
Crime metrics show a mixed but improving picture for the neighborhood. Property crime rates rank in the 47th percentile nationally, indicating moderate levels relative to other metro neighborhoods. However, both property and violent crime have declined significantly over the past year, with property offenses down 81% and violent crime down 96%, suggesting positive trend direction.
The neighborhood's overall crime ranking places it above metro median among Los Angeles-area neighborhoods, while recent crime reduction trends support the area's investment appeal. Investors should consider these improving safety metrics when evaluating tenant retention and property positioning.
The North Hollywood area benefits from proximity to major entertainment and media companies, providing stable employment for the professional renter base. Key employers within commuting distance support workforce housing demand.
- Radio Disney — media and entertainment (1.8 miles)
- Disney — entertainment and media (2.8 miles) — HQ
- Live Nation Entertainment — entertainment services (3.4 miles)
- Charter Communications — telecommunications (4.1 miles)
- Live Nation Entertainment — entertainment services (5.1 miles) — HQ
This 35-unit North Hollywood property offers investors exposure to a stable rental market supported by strong demographic fundamentals and entertainment industry employment. The neighborhood's 93.6% occupancy rate and 77% renter-occupied housing stock indicate consistent demand, while projected population growth of 9.6% through 2028 supports tenant pool expansion. The 2004 construction vintage positions the asset competitively without immediate major capital requirements.
According to commercial real estate analysis from WDSuite, the submarket ranks in the top quartile nationally for housing and amenity metrics, reflecting solid investment fundamentals. However, investors should monitor the 0.30 rent-to-income ratio for potential lease management challenges and consider the mixed crime metrics when evaluating long-term positioning strategies.
- Strong occupancy fundamentals with 93.6% neighborhood-level rates and 77% renter-occupied units
- Projected 9.6% population growth through 2028 supporting tenant demand expansion
- Proximity to major entertainment employers including Disney and Live Nation Entertainment
- 2004 construction provides competitive positioning without immediate major capital needs
- Risk consideration: Monitor rent-to-income ratios and crime trends for lease management impacts