| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11229 W Huston St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2001-03-23 |
| Transaction Price | $2,115,000 |
| Buyer | COELER WILLI O |
| Seller | GREINETZ EARL |
11229 W Huston St North Hollywood Multifamily Investment
This 24-unit property benefits from a highly educated tenant base and strong rental demand in an area where 85% of housing units are renter-occupied, according to CRE market data from WDSuite.
This North Hollywood neighborhood ranks in the top quartile nationally for education levels, with 46.3% of residents holding bachelor's degrees. The area demonstrates strong rental fundamentals with 85% of housing units renter-occupied, ranking 22nd among 1,441 metro neighborhoods. Demographics within a 3-mile radius show a stable population of approximately 203,000 residents, with forecasts indicating 5.5% population growth through 2028 and a 37% increase in total households, supporting expanded rental demand.
Built in 1986, this property aligns with the neighborhood's average construction year of 1984, suggesting potential value-add opportunities through strategic renovations and unit improvements. Median contract rents in the neighborhood reach $2,182, with 38% growth over the past five years. The area's net operating income per unit averages $13,482, ranking in the 92nd percentile nationally, indicating strong income-generating potential for multifamily properties.
The neighborhood offers exceptional dining and retail density, with 62 restaurants and 8.6 grocery stores per square mile, both ranking in the 99th percentile nationally. However, amenities rank 441st among metro neighborhoods, and the area lacks parks and childcare facilities. Median household income of $81,749 has grown 18% over five years, though the rent-to-income ratio of 32% suggests affordability pressures that require careful lease management and retention strategies.
The neighborhood demonstrates improving safety trends, with property crime rates declining 78% year-over-year and violent crime dropping 98%. Current property offense rates of 547 per 100,000 residents rank in the 35th percentile nationally, while violent crime rates of 20 per 100,000 rank in the 59th percentile. The overall crime ranking of 440th among 1,441 metro neighborhoods places the area in the 73rd percentile nationally for safety metrics.
The area benefits from proximity to major entertainment and media employers that support workforce housing demand, including Disney headquarters and Charter Communications offices within commuting distance.
- Radio Disney — media and entertainment (2.0 miles)
- Disney — entertainment and media (2.9 miles) — HQ
- Charter Communications — telecommunications (3.3 miles)
- Live Nation Entertainment — entertainment services (4.4 miles)
- Activision Blizzard Studios — gaming and technology (6.5 miles)
This 24-unit North Hollywood property capitalizes on strong rental market fundamentals in a neighborhood where 85% of housing units are renter-occupied. The area's highly educated demographics, with 46% holding bachelor's degrees, support stable tenant quality and retention. Forecasted household growth of 37% through 2028 indicates expanding rental demand, while the property's 1986 vintage presents value-add opportunities through strategic renovations.
According to multifamily property research from WDSuite, the neighborhood's net operating income per unit ranks in the 92nd percentile nationally at $13,482. However, investors should monitor the 32% rent-to-income ratio and declining occupancy trends, which have dropped 8.5% over five years to 90.1%, requiring active lease management and competitive positioning strategies.
- Strong rental market with 85% renter-occupied housing units
- Highly educated tenant base with 46% holding bachelor's degrees
- Forecasted 37% household growth supporting rental demand expansion
- Value-add potential through strategic property improvements
- Risk: Declining occupancy trends and affordability pressures require active management