| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 84th | Best |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11416 Albers St, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1988 |
| Units | 22 |
| Transaction Date | 2003-05-08 |
| Transaction Price | $2,420,000 |
| Buyer | COELER PETER A |
| Seller | PHILLIPS ROBERTA |
11416 Albers St North Hollywood Multifamily Investment
This 22-unit property benefits from neighborhood-level occupancy of 92.4% and strong rental demand in a market ranking in the top quartile nationally for education levels, according to WDSuite's CRE market data.
The North Hollywood neighborhood demonstrates strong fundamentals for multifamily investors, ranking 195th among 1,441 metro neighborhoods with an A-rating overall. The area maintains 92.4% occupancy rates and commands median rents of $1,956, reflecting healthy rental demand dynamics. With 71.1% of housing units renter-occupied, the neighborhood ranks in the 97th percentile nationally for rental tenure share, indicating a deep and stable tenant base.
Demographics within a 3-mile radius support sustained rental demand, with 67.2% of housing units renter-occupied and a median household income of $87,635. The area attracts highly educated residents, with 45.8% holding bachelor's degrees - ranking in the 99th percentile nationally. This educated workforce, combined with proximity to major entertainment industry employers, reinforces tenant quality and retention potential.
Built in 1988, this property aligns with the neighborhood's average construction year of 1970, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older vintage buildings. The neighborhood's median home value of $1,017,701 sustains rental demand by limiting homeownership accessibility, while rent-to-income ratios suggest manageable affordability for the educated tenant base.
Amenity density supports tenant appeal, with 2.75 grocery stores per square mile ranking in the 88th percentile nationally, and strong park access ranking in the 96th percentile. The area shows improving safety trends, with property crime declining 85.7% year-over-year, though investors should monitor occupancy trends as the neighborhood ranks below metro median for occupancy stability.
Safety metrics show mixed signals requiring careful consideration. The neighborhood ranks 308th among 1,441 metro neighborhoods for overall crime, placing it in the 78th percentile nationally - indicating above-average safety compared to neighborhoods nationwide. Recent trends are encouraging, with property crime declining 85.7% year-over-year and violent crime dropping 92.3%, both ranking in the top quartile nationally for crime reduction.
Current crime rates include an estimated 209.4 property offenses per 100,000 residents and 18.9 violent offenses per 100,000 residents. While these absolute numbers warrant standard due diligence, the dramatic year-over-year improvements suggest positive momentum in neighborhood safety conditions. Investors should weigh these improving trends against ongoing security considerations typical of urban core locations.
The property benefits from proximity to major entertainment and media employers that support stable workforce demand for rental housing in the North Hollywood corridor.
- Radio Disney — media & entertainment (2.5 miles)
- Charter Communications — telecommunications (2.8 miles)
- Disney — entertainment & media (3.3 miles) — HQ
- Live Nation Entertainment — entertainment services (5.2 miles)
- Avery Dennison — manufacturing & materials (7.1 miles) — HQ
This 22-unit North Hollywood property offers exposure to a neighborhood ranking in the A-tier with strong rental fundamentals. The area maintains 92.4% occupancy and benefits from 71.1% renter-occupied housing units, ranking in the 97th percentile nationally for rental tenure share. The highly educated tenant base (45.8% with bachelor's degrees, 99th percentile nationally) and proximity to major entertainment employers support tenant quality and retention potential.
Built in 1988, the property represents relatively newer vintage compared to the neighborhood average, potentially requiring less immediate capital investment. Demographic projections within a 3-mile radius show household growth of 36.9% over the next five years, expanding the potential tenant pool. However, investors should monitor rent-to-income ratios and occupancy trends, as the neighborhood ranks below metro median for occupancy stability despite current strong performance.
- Strong rental tenure share (97th percentile nationally) indicates stable demand
- Highly educated tenant base with 99th percentile bachelor's degree attainment
- Proximity to major entertainment industry employers supports tenant retention
- 1988 construction year offers newer vintage positioning in the neighborhood
- Risk consideration: Below-median occupancy stability ranking requires monitoring