| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11265 Morrison St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 43 |
| Transaction Date | 2011-03-30 |
| Transaction Price | $13,300,000 |
| Buyer | WOODLAND TRIO 2011 |
| Seller | NOHO CONSOLIDATED SPE LLC |
11265 Morrison St North Hollywood Multifamily Opportunity
Renter demand is supported by an amenity-rich urban core and high local ownership costs, according to WDSuite’s CRE market data, suggesting durable leasing fundamentals relative to the broader Los Angeles metro. Neighborhood occupancy trends and income growth indicate a stable tenant base with potential for disciplined rent management.
The property sits in North Hollywood’s Urban Core, where daily conveniences are concentrated. Cafes and restaurants rank competitively among 1,441 Los Angeles metro neighborhoods (both in the top quartile nationally), with grocery access also strong, reinforcing walkable lifestyle appeal that helps with retention. Pharmacy density tracks above national norms as well, while park access is limited in this immediate area.
Local home values are elevated versus national benchmarks, which typically sustains reliance on rental housing and can support pricing power for well-positioned multifamily assets. Median contract rents in the neighborhood are high relative to U.S. norms, and the rent-to-income ratio indicates some affordability pressure—an important lease management consideration rather than a constraint on demand.
Renter concentration is deep, with a high share of housing units renter-occupied (competitive among 1,441 metro neighborhoods), signaling a sizable tenant pool for a 43-unit asset. Neighborhood occupancy is around the middle of national peers, so well-executed operations and customer service are likely to be the differentiators for renewal lift and lease-up velocity.
Within a 3-mile radius, demographics show steady fundamentals: households have increased modestly in recent years and are projected to grow further, with population growth expected over the next five years, pointing to a larger tenant base over time. Median incomes in the area have trended higher, and forecasts show continued gains, which supports rent collections and reduces turnover risk.
Vintage matters: built in 1986 versus the neighborhood’s average vintage of 1984, the property is slightly newer than nearby stock. That positioning can be competitive against older buildings, though selective system upgrades and common-area refreshes may still be prudent to capture value-add upside.
School ratings in the immediate neighborhood trend below national averages, which is less critical for typical renter profiles in this submarket but remains a consideration for unit mix and marketing. Overall neighborhood performance is rated A- with strong NOI per unit (top decile nationally), aligning with investor expectations for professionally managed urban assets.
Neighborhood safety indicators compare favorably to many U.S. neighborhoods, with overall crime levels testing above the national median (higher national percentile indicates comparatively safer conditions). Recent trends show notable improvement: both property and violent offense estimates have declined year over year at a faster pace than most areas nationwide, according to WDSuite’s CRE market data.
Within the Los Angeles metro context (1,441 neighborhoods), the area is competitive, and national percentiles suggest safety is above average relative to U.S. neighborhoods. Investors should monitor ongoing trends, but the directionality over the last year is constructive for resident perception and lease retention.
The nearby employment base skews toward media and communications, supporting demand from professionals seeking short commutes. Key employers within a short drive include Radio Disney, Disney, Charter Communications, and Live Nation Entertainment.
- Radio Disney — media (2.1 miles)
- Disney — entertainment (3.0 miles) — HQ
- Charter Communications — telecommunications (3.2 miles)
- Live Nation Entertainment — entertainment (4.5 miles)
- Live Nation Entertainment — entertainment (6.1 miles) — HQ
11265 Morrison St offers exposure to a deep renter pool in North Hollywood’s amenity-dense core. Elevated local home values reinforce reliance on multifamily, while neighborhood rents remain high compared with national norms. According to CRE market data from WDSuite, the neighborhood scores A- overall with NOI per unit in the top decile nationally, pointing to resilient income potential for well-operated assets.
The 1986 vintage is slightly newer than nearby stock, suggesting competitive positioning against older assets; targeted modernization can unlock additional value-add upside. While neighborhood occupancy is around the national middle and school ratings are lower, strong employer proximity, dense amenities, and a growing 3-mile household base support leasing stability and long-term demand.
- Amenity-rich Urban Core location supports retention and rentability.
- Elevated ownership costs locally sustain multifamily demand and pricing power.
- Slightly newer 1986 vintage with value-add potential through selective upgrades.
- Strong nearby employers in media and communications underpin a stable tenant base.
- Risks: mid-range neighborhood occupancy, affordability pressure, and lower school ratings require active lease and asset management.