| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11164 W Morrison St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 2004 |
| Units | 23 |
| Transaction Date | 2002-03-04 |
| Transaction Price | $345,000 |
| Buyer | COHEN GIDI |
| Seller | DOBLE JASON |
11164 W Morrison St North Hollywood Multifamily Outlook
2004 construction positions this asset competitively versus older local stock, with renter demand supported by strong amenity access, according to WDSuite’s CRE market data. Expect solid tenant depth from the surrounding urban core, though neighborhood occupancy trends merit close monitoring.
The immediate area functions as an Urban Core pocket within the Los Angeles-Long Beach-Glendale metro, rated A- and ranked 279 out of 1,441 metro neighborhoods — competitive among Los Angeles-Long Beach-Glendale neighborhoods. Amenities are a clear strength: cafes, groceries, and restaurants index in the 99th percentile nationally, reinforcing walkable daily needs and lifestyle appeal that typically supports leasing velocity and renewal potential.
The building’s 2004 vintage is newer than the neighborhood’s average construction year of 1984. For investors, that generally means stronger competitive positioning versus older comparables, with modernization focused more on finishes and common-area refresh than full system overhauls; targeted capex can sharpen curb appeal and in-unit features to sustain rentability.
Within a 3-mile radius, about two-thirds of housing units are renter-occupied, indicating a deep tenant base for multifamily. While the neighborhood’s occupancy rate is slightly below the national midpoint and has softened versus five years ago, a high renter concentration and dense amenities point to resilient underlying demand drivers for well-managed assets.
Home values in the neighborhood sit in the mid-90s national percentile, signaling a high-cost ownership market that can reinforce reliance on multifamily. At the same time, rent-to-income metrics suggest some affordability pressure, so operators should emphasize retention and lease management to maintain occupancy stability.
Demographic data aggregated within a 3-mile radius show a modest population dip in recent years but a projected increase in both population and households by 2028, alongside smaller average household size. This combination typically expands the renter pool and supports steady absorption for well-located properties, based on commercial real estate analysis from WDSuite.
Safety indicators compare above the national median, according to WDSuite’s data, and recent year-over-year trends point to meaningful declines in both property and violent offense rates at the neighborhood level. While conditions vary block to block, the directional improvement supports a more stable operating backdrop relative to many urban submarkets.
Within the Los Angeles-Long Beach-Glendale metro context, the neighborhood’s safety profile is better than many peers on national comparisons but should still be underwritten with conservative assumptions and active onsite management to sustain resident confidence and retention.
Proximity to entertainment and media employers underpins local renter demand, with convenient commutes to Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Activision Blizzard Studios supporting leasing depth and retention.
- Radio Disney — media (1.9 miles)
- Disney — entertainment studios (2.8 miles) — HQ
- Charter Communications — telecommunications (3.2 miles)
- Live Nation Entertainment — entertainment (4.4 miles)
- Activision Blizzard Studios — gaming & media (6.6 miles)
11164 W Morrison St offers a 2004-vintage, 23-unit footprint in a renter-heavy, amenity-rich North Hollywood location. The asset’s relative youth versus the neighborhood’s older stock supports competitive positioning and moderates near-term system capex, while targeted unit and common-area refreshes can unlock value-add potential. According to CRE market data from WDSuite, the area’s national 99th-percentile amenity access and high-cost ownership landscape bolster multifamily reliance, though operators should plan for disciplined lease management given affordability pressure and neighborhood occupancy that sits near national midrange.
Looking ahead, 3-mile demographics indicate a projected increase in population and households by 2028 alongside smaller household sizes, which typically expands the renter pool and supports occupancy stability for well-located assets. These fundamentals, together with proximity to major media and entertainment employers, suggest durable demand with prudent risk controls.
- 2004 vintage provides competitive edge versus older local stock, with manageable modernization scope
- Dense, 99th-percentile national amenity access supports leasing velocity and renewals
- High-cost ownership market reinforces renter reliance and depth of tenant base
- Projected 3-mile population and household growth by 2028 expands the renter pool
- Risks: neighborhood occupancy below national peak and affordability pressure require active retention strategy