| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11230 Otsego St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1987 |
| Units | 50 |
| Transaction Date | 2006-01-10 |
| Transaction Price | $7,800,000 |
| Buyer | Noho Land Partners II, LLC |
| Seller | Embassy Square, LLC |
11230 Otsego St North Hollywood Multifamily Investment
This 50-unit property benefits from North Hollywood's dense renter market, with 85% of housing units occupied by renters and neighborhood-level occupancy at 90.1% according to CRE market data from WDSuite.
The North Hollywood neighborhood ranks in the top quartile nationally for housing metrics, reflecting strong fundamentals for multifamily investors. With 85% of housing units occupied by renters compared to the metro average, this area demonstrates sustained rental demand depth. Neighborhood-level occupancy sits at 90.1%, while median rents of $2,182 have grown 37.9% over five years, indicating pricing power despite affordability pressures reflected in the rent-to-income ratio.
Built in 1987, this property aligns with the neighborhood's average construction year of 1984, suggesting consistent capital planning needs across the local building stock. The area's urban core designation supports walkability with exceptional amenity density—grocery stores and restaurants rank in the 99th percentile nationally per square mile, enhancing tenant retention appeal.
Demographics within a 3-mile radius show a stable renter pool of approximately 209,000 residents, with 66.8% of housing units occupied by renters. Household income trends support rental demand sustainability, with median household income at $92,035 and projected growth to $129,906 by 2028. The area's high concentration of educated residents (46.3% with bachelor's degrees, ranking 99th percentile nationally) typically correlates with employment stability and lease renewal rates.
Home values averaging $902,574 and rising 46.1% over five years reinforce rental demand by maintaining elevated ownership costs that keep households in the rental market. However, investors should monitor the rent-to-income dynamics, as affordability pressure may require strategic lease management and renewal incentives.
Safety metrics show mixed signals requiring balanced evaluation. The neighborhood ranks 440th among 1,441 Los Angeles metro neighborhoods for overall crime, placing it above the metro median with a 73rd national percentile ranking. Property crime rates have declined significantly by 77.7% year-over-year, ranking in the 97th percentile nationally for crime reduction trends.
Violent crime rates remain relatively low at 19.9 incidents per 100,000 residents, with an exceptional 97.5% decline over the past year. While recent trends show substantial improvement, investors should continue monitoring crime patterns and consider how safety perceptions may influence tenant retention and lease-up velocity in this urban core location.
The North Hollywood area benefits from proximity to major entertainment and corporate employers, supporting workforce housing demand and commute convenience for professional tenants.
- Radio Disney — entertainment media (2.0 miles)
- Disney — entertainment conglomerate (2.9 miles) — HQ
- Charter Communications — telecommunications (3.1 miles)
- Live Nation Entertainment — live entertainment (4.6 miles)
- Activision Blizzard Studios — gaming & technology (6.7 miles)
This 50-unit North Hollywood property capitalizes on strong rental market fundamentals, with neighborhood-level occupancy at 90.1% and 85% of local housing units occupied by renters. The 1987 construction year presents value-add opportunities for strategic capital improvements while maintaining competitive positioning within the neighborhood's consistent building vintage. Multifamily property research indicates robust demand drivers, including proximity to major entertainment employers and a highly educated tenant base with 46.3% holding bachelor's degrees.
Demographic projections within the 3-mile radius show household growth supporting expanded rental demand, while home values averaging $902,574 reinforce renter reliance on multifamily housing. However, rent-to-income ratios suggest affordability pressure that may require active lease management strategies. The property benefits from exceptional walkability with top-percentile amenity density, supporting tenant retention in this urban core location.
- Strong rental demand with 85% renter occupancy and neighborhood occupancy at 90.1%
- Value-add potential from 1987 vintage with strategic capital improvement opportunities
- Proximity to major entertainment employers including Disney headquarters (2.9 miles)
- Educated tenant base with top-percentile walkability and amenity access
- Risk consideration: rent-to-income ratios require strategic lease management approach