| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11123 W Hartsook St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | 2013-03-11 |
| Transaction Price | $4,400,000 |
| Buyer | CHATEAU HARTSOOK LLC |
| Seller | FMS INVESTMENTS V LLC |
11123 W Hartsook St North Hollywood Multifamily Investment
Renter demand is reinforced by a high neighborhood share of renter-occupied units and strong amenity density, supporting leasing durability according to WDSuite’s CRE market data.
Located in North Hollywood’s Urban Core, the property benefits from an A- neighborhood rating and a metro rank of 279 among 1,441 neighborhoods, indicating performance that is competitive within Los Angeles and above the metro median. Amenity access is a clear strength: restaurants, cafes, and grocery options rank in the 99th percentile nationally, pointing to walkable daily needs and lifestyle convenience that can support tenant retention and absorption.
For investors evaluating rent dynamics, neighborhood median contract rents sit in the upper tier nationally (94th percentile), while NOI per unit is also strong (92nd percentile), suggesting sustained willingness to pay and income performance relative to national peers. Neighborhood occupancy is around the national middle, indicating room for operational execution to drive stability. The average renter-occupied share in the neighborhood is high (ranked 22 of 1,441), which signals a deep tenant base for multifamily assets and supports ongoing demand for professionally managed units.
Demographic statistics are aggregated within a 3-mile radius. Household counts have inched up recently and are projected to grow further, with forecasts calling for more households and smaller average household size over the next five years—both supportive of a larger renter pool and steady leasing. Elevated home values relative to income at the neighborhood level indicate a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and can aid pricing power while requiring attentive lease management where rent-to-income ratios are higher.
Schools in the immediate area track below national averages, which some renters may discount in an urban context, but the strong amenity mix and transit-oriented lifestyle remain primary demand drivers for working professionals. The property’s 1987 vintage is slightly newer than the neighborhood average (1984), offering relative competitiveness versus older stock; investors should still plan for targeted system upgrades or modernization to sustain positioning.
Safety trends are mixed but improving. Compared with neighborhoods nationwide, the area scores above average for overall safety (around the 73rd percentile), while within the Los Angeles metro its crime rank (440 of 1,441) places it closer to the metro’s more active areas rather than its lowest-crime pockets. For investors, this suggests typical urban vigilance with an eye toward property management practices that support resident comfort.
By offense type, property incidents benchmark weaker versus national norms (around the 35th percentile), yet the latest year shows a pronounced improvement with property offense rates down roughly 78% year over year. Violent offense rates sit moderately better than national norms (about the 59th percentile) and have declined sharply year over year as well. These directional shifts, based on CRE market data from WDSuite, indicate a recent trend toward improvement while reinforcing the value of proactive onsite operations.
The immediate employment base features entertainment and communications employers that support steady renter demand through proximity and commute convenience. Notable nearby employers include Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Avery Dennison.
- Radio Disney — media (1.96 miles)
- Disney — entertainment (2.8 miles) — HQ
- Charter Communications — telecommunications (2.94 miles)
- Live Nation Entertainment — entertainment (6.36 miles) — HQ
- Avery Dennison — manufacturing & materials (6.7 miles) — HQ
This 24-unit, 1987-vintage asset in North Hollywood sits in a renter-heavy urban neighborhood with top-tier amenity density, supporting depth of tenant demand and leasing velocity. Neighborhood rents benchmark high nationally and NOI per unit is strong, while occupancy trends are near the national middle—creating an opportunity for disciplined operations to drive stability. According to CRE market data from WDSuite, elevated ownership costs at the neighborhood level tend to sustain reliance on rentals, aiding pricing power when paired with effective lease management.
Three-mile demographics point to growth in households and a gradual shift toward smaller household sizes over the next five years, expanding the renter pool for professionally managed units. The 1987 construction offers relative competitiveness versus older local stock; investors should anticipate targeted capital planning for systems and modernization to maintain positioning against newer deliveries. Key watch items include affordability pressure where rent-to-income runs higher and attention to safety perception typical of dense urban submarkets.
- Renter-heavy neighborhood and strong amenity access support demand and retention.
- High national standing for rents and NOI per unit underscores income potential.
- 1987 vintage offers competitive positioning with targeted value-add via modernization.
- Household growth and smaller household sizes expand the local renter pool over time.
- Risks: affordability pressure (higher rent-to-income), mid-pack occupancy, and urban safety perceptions.