| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11251 Morrison St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2011-03-30 |
| Transaction Price | $13,300,000 |
| Buyer | WOODLAND TRIO 2011 |
| Seller | NOHO CONSOLIDATED SPE LLC |
11251 Morrison St North Hollywood Multifamily Investment
High renter concentration in the neighborhood and strong amenity density support durable leasing fundamentals, according to WDSuite’s CRE market data. Elevated ownership costs in North Hollywood further sustain rental demand and help preserve pricing power through cycles.
Situated in North Hollywood’s Urban Core, the property benefits from a renter-oriented neighborhood and dense daily-needs access that supports leasing stability. Neighborhood-level amenity depth is a clear strength: restaurants and cafes rank competitive among 1,441 Los Angeles-Long Beach-Glendale neighborhoods and land in the top quartile nationally, signaling strong lifestyle appeal that helps with retention and unit absorption.
Renter-occupied share is very high at the neighborhood level, indicating a deep tenant base for multifamily assets and consistent demand for professionally managed units. Within a 3-mile radius, demographics show households have grown modestly and are projected to expand further by 2028, pointing to a larger tenant pool and support for occupancy. Income levels have risen and are forecast to continue increasing, which can underpin rent growth and renewal performance.
Home values in the neighborhood are elevated versus national norms, which tends to reinforce renter reliance on multifamily housing and can support pricing power. Neighborhood housing quality indicators score above metro median, and average NOI per unit benchmarks competitively versus metro peers, suggesting that stabilized operations in this area can perform well relative to broader Los Angeles trends.
Trade-offs to monitor include limited park and formal childcare density locally and below-average school ratings, which may matter for family-oriented renters. Neighborhood occupancy has softened versus five years ago, so disciplined leasing and renewal management remain important. Even so, the combination of amenity depth, a large renter base, and expanding households within 3 miles positions well for sustained demand.
Neighborhood safety indicators track competitive among 1,441 Los Angeles-Long Beach-Glendale neighborhoods and sit above national averages, indicating comparatively favorable conditions versus many U.S. areas. According to WDSuite’s data, recent year-over-year trends show notable declines in both violent and property offense estimates, a constructive signal for resident retention and leasing.
While no micro-level claims are made for this specific block, the neighborhood’s national positioning falls in the upper tier for safety and has improved on a trend basis. Investors should continue standard underwriting for security measures and lighting/common-area visibility, but the broader trajectory is supportive of multifamily operations.
Proximity to media, entertainment, and telecom employment hubs supports a steady renter pipeline and commute convenience for workforce tenants. Key nearby employers include Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Activision Blizzard Studios.
- Radio Disney — media (2.1 miles)
- Disney — media & entertainment (3.0 miles) — HQ
- Charter Communications — telecom (3.2 miles)
- Live Nation Entertainment — live entertainment (6.1 miles) — HQ
- Activision Blizzard Studios — gaming & media (6.6 miles)
This 20-unit North Hollywood asset combines a deep renter pool with strong neighborhood amenity density, supporting occupancy and renewal prospects. Elevated home values locally point to a high-cost ownership market, which tends to sustain multifamily demand and bolster pricing discipline. Within a 3-mile radius, households have increased and are projected to expand through 2028, adding to the renter base and supporting long-term leasing stability. According to CRE market data from WDSuite, neighborhood-level income growth and above-median housing indicators versus the metro further reinforce the case for steady operations.
Operationally, investors should plan for disciplined affordability and lease management, as rent-to-income metrics signal some household cost pressure and neighborhood occupancy has drifted from prior highs. School quality and limited park/childcare density are considerations for certain renter segments. Even with these risks, the combination of renter concentration, income growth, and proximity to large employment centers positions the asset for durable performance.
- Deep neighborhood renter-occupied share supports demand and renewal velocity
- Elevated local home values reinforce reliance on rentals and pricing power
- Strong amenity density and employer proximity aid leasing and retention
- Directional income growth within 3 miles supports long-term rent performance
- Risks: softer neighborhood occupancy trend, affordability pressure, and low school ratings