| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11319 W Morrison St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 2002 |
| Units | 27 |
| Transaction Date | 1999-12-15 |
| Transaction Price | $56,000 |
| Buyer | PB LIVING TRUST |
| Seller | 11311 MORRISON LIMITED PARTNERSHIP |
11319 W Morrison St North Hollywood 27-Unit Multifamily
Positioned in an amenity-rich pocket of North Hollywood, the asset benefits from a deep renter base and strong neighborhood income levels, according to WDSuite’s CRE market data. Newer vintage relative to local stock supports competitive leasing and retention potential.
This Urban Core neighborhood in the Los Angeles-Long Beach-Glendale metro is rated A- and ranks 279 out of 1,441 metro neighborhoods — competitive among Los Angeles-Long Beach-Glendale neighborhoods. Dining and daily needs are a clear strength: restaurants and cafes sit in the 99th percentile nationally, and pharmacies are also high relative to U.S. peers. These amenity concentrations tend to support renter satisfaction and lease retention.
The share of housing units that are renter-occupied is elevated at the neighborhood level (rank 22 of 1,441), indicating a deep tenant base for multifamily demand. Neighborhood occupancy is measured at 90.1% — this is a neighborhood metric, not the property — suggesting solid, but actively managed, leasing conditions in this part of the metro.
Within a 3-mile radius, households have grown modestly in recent years and are projected to expand further by 2028, with smaller average household sizes indicating more singles and couples entering the renter pool. Median household income in the radius is comparatively strong and trending upward, while home values in the neighborhood are elevated versus national norms; together, this high-cost ownership market reinforces reliance on rental housing and supports pricing power for well-positioned assets.
The property’s 2002 construction is newer than the neighborhood’s average 1984 vintage, offering a competitive edge versus older inventory while leaving room for targeted modernization to capture renter preferences. School ratings in the neighborhood score below many U.S. areas, which may matter for family-oriented renters; however, the area’s amenity density and professional renter profile help underpin demand.
Neighborhood safety indicators compare favorably: the area ranks 440 out of 1,441 metro neighborhoods on crime risk and sits above the national average for safety. Year-over-year trends show notable improvements in both property and violent offense rates, according to WDSuite’s data, which supports longer-term neighborhood stability for renters.
As with any Urban Core location, conditions can vary block to block, so investors typically underwrite with prudent security measures and lighting/visibility enhancements to sustain leasing and retention.
Proximity to major media and corporate offices supports a steady professional renter base and commute convenience for residents, including roles at Radio Disney, Disney, Charter Communications, and Live Nation Entertainment.
- Radio Disney — corporate offices (2.2 miles)
- Disney — corporate offices (3.1 miles) — HQ
- Charter Communications — telecommunications (3.3 miles)
- Live Nation Entertainment — corporate offices (4.6 miles)
- Live Nation Entertainment — corporate offices (6.1 miles) — HQ
11319 W Morrison St is a 27-unit asset built in 2002, offering a newer vintage relative to the neighborhood’s 1980s-era average — a positioning advantage versus older stock while leaving room for selective renovations that can refresh common areas and in-unit finishes. Neighborhood fundamentals point to depth of renter demand: a high renter-occupied share, amenity density in the national top tier, and elevated ownership costs that sustain reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy is stable at the area level and income levels are supportive of Class B/B+ pricing for well-managed assets.
Within a 3-mile radius, households are projected to increase alongside rising incomes and smaller household sizes, indicating continued renter pool expansion that can support occupancy stability and measured rent growth. Underwriting should account for affordability pressure (rent-to-income levels typical of high-cost Los Angeles submarkets) and below-average school ratings, but the employment base and strong amenities provide durable demand drivers.
- Newer 2002 vintage versus local average, with value-add potential through targeted modernization
- Amenity-rich Urban Core location with national top-tier dining and daily-needs access supporting retention
- High renter-occupied share at the neighborhood level indicates depth of tenant base
- Household and income growth within 3 miles signal ongoing renter pool expansion
- Risks: affordability pressure typical of LA, below-average school ratings, and variable Urban Core safety conditions