| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11329 W Morrison St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 21 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11329 W Morrison St North Hollywood Multifamily Investment
This 21-unit property built in 1986 operates in a neighborhood with 85% renter-occupied housing, indicating strong rental demand in the North Hollywood submarket according to WDSuite's CRE market data.
The North Hollywood neighborhood ranks in the top quartile among 1,441 Los Angeles metro neighborhoods for housing fundamentals, supported by an 85% renter-occupied housing concentration that creates substantial rental demand depth. Neighborhood-level occupancy stands at 90.1%, with median contract rents of $2,182 reflecting pricing power in this urban core location.
Built in 1986, this property aligns with the neighborhood's average construction year of 1984, indicating consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. The area benefits from exceptional amenity density, ranking in the 99th percentile nationally for restaurants and cafes, which supports tenant retention through walkable convenience.
Demographics within a 3-mile radius show a stable renter base with 67% of housing units renter-occupied and projected household growth of 37% through 2028, expanding the potential tenant pool. However, elevated home values with a median of $902,574 reinforce rental demand by limiting ownership accessibility for most residents. The rent-to-income ratio of 0.32 suggests affordability pressures that require careful lease management considerations.
The neighborhood's 46% share of residents with bachelor's degrees ranks in the 99th percentile nationally, indicating a professional tenant base that typically provides stable lease performance, though average school ratings of 1.0 out of 5 may limit appeal to families with children.
The neighborhood demonstrates above-average safety performance, ranking 440th out of 1,441 Los Angeles metro neighborhoods for overall crime metrics, placing it in the 73rd percentile nationally. Property crime rates have declined significantly by 78% year-over-year, while violent crime rates dropped 98%, indicating improving security conditions that support tenant retention.
Current property offense rates of 547 per 100,000 residents rank in the 35th percentile nationally, suggesting moderate property crime levels that investors should monitor. The substantial year-over-year crime reductions reflect positive neighborhood trends that may enhance long-term investment appeal and occupancy stability.
The employment base centers on major entertainment and media companies that provide stable workforce housing demand for the North Hollywood rental market, with several Fortune 500 headquarters within commuting distance.
- Radio Disney — media & entertainment (2.2 miles)
- Disney — entertainment & media (3.1 miles) — HQ
- Charter Communications — telecommunications (3.3 miles)
- Live Nation Entertainment — entertainment services (4.6 miles)
- Activision Blizzard Studios — gaming & technology (6.6 miles)
This North Hollywood property offers exposure to a neighborhood with top-quartile housing fundamentals and 85% renter-occupied units, creating substantial rental demand depth in the Los Angeles metro. The 1986 construction year presents value-add renovation potential to capture rent premiums, while proximity to major entertainment employers including Disney headquarters supports stable tenant demand from media professionals.
Neighborhood-level NOI per unit averages $13,482, ranking in the 92nd percentile nationally, demonstrating strong income-generating potential. Projected household growth of 37% through 2028 within a 3-mile radius expands the tenant base, though elevated home values reinforce rental demand by maintaining ownership barriers for most residents.
- Strong rental demand fundamentals with 85% renter-occupied housing concentration
- Value-add renovation opportunities in 1986-built property to modernize units
- Proximity to major entertainment employers provides stable professional tenant base
- Exceptional walkable amenity density supports tenant retention and lease renewals
- Risk: High rent-to-income ratios require careful affordability management and lease screening