| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 84th | Best |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11473 Riverside Dr, North Hollywood, CA, 91602, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 51 |
| Transaction Date | 2019-03-19 |
| Transaction Price | $15,350,000 |
| Buyer | 51 At The Village LP, Double Chats LP |
| Seller | Heico Riverside Arts Apartments LLC, Private Investor, Brian E McGrail (708) 614-6848, Price/unit and /sf |
11473 Riverside Dr North Hollywood Multifamily Investment
In a high-cost ownership pocket of Los Angeles County, renter demand is supported by strong incomes and a deep tenant base, according to WDSuite’s CRE market data. The neighborhood’s renter concentration and steady occupancy trends position this asset for durable leasing performance.
This Urban Core neighborhood in North Hollywood benefits from a high renter-occupied share at the neighborhood level, indicating depth in the tenant pool and potential leasing stability for a 51-unit asset. Elevated home values relative to incomes (top-tier nationally) signal a high-cost ownership market, which typically sustains reliance on multifamily housing and can support pricing power when managed carefully.
Local amenity access skews toward parks and daily needs: park density ranks among the top quartile nationally, and grocery access is above national medians, while cafes and pharmacies are comparatively sparse. For investors, this mix supports day-to-day livability and retention even without a heavy café scene, with restaurants measuring strong among neighborhoods nationwide.
Neighborhood-level occupancy has trended upward over the last five years and sits in the mid-range nationally, which aligns with stable demand conditions rather than late-cycle excess. Median contract rents are high relative to U.S. peers, yet rent-to-income measurements indicate lower affordability pressure than many coastal submarkets—helpful for renewal management and minimizing turnover risk.
Within a 3-mile radius, demographics show a large and diversified population with recent modest household growth and forecasts pointing to additional household gains and smaller average household sizes by 2028. This implies incremental renter pool expansion and supports occupancy stability for mid-size buildings like this one. The property’s 1986 construction is newer than the neighborhood’s average vintage (1970), offering a competitive edge versus older stock while still warranting targeted capital planning for aging systems and modernization to capture value-add upside.
Safety metrics compare favorably at the national level, with the neighborhood scoring in the higher national percentiles for overall safety. Recent trends are constructive: both property and violent offense rates show sharp year-over-year declines, placing the area among the strongest national improvers, based on CRE market data from WDSuite.
Conditions can vary by block and over time, but the combination of nationally competitive safety standing and improving trend lines supports renter appeal and lease retention relative to many urban Los Angeles submarkets.
Proximity to major media and corporate offices underpins workforce housing demand and commute convenience for renters. Nearby anchors include Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and AECOM.
- Radio Disney — corporate offices (2.3 miles)
- Disney — corporate offices (3.2 miles) — HQ
- Charter Communications — corporate offices (3.6 miles)
- Live Nation Entertainment — corporate offices (4.5 miles)
- AECOM — corporate offices (7.1 miles) — HQ
11473 Riverside Dr is a 51-unit, 1986-vintage asset positioned in a renter-heavy North Hollywood neighborhood where elevated ownership costs reinforce reliance on multifamily housing. Neighborhood occupancy has improved over the past five years, and rent levels are high relative to national peers while rent-to-income dynamics indicate manageable affordability pressure—favorable for renewal strategies and pricing discipline, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown and are projected to increase further as average household size trends lower by 2028, expanding the renter pool and supporting steady absorption for mid-sized properties. The 1986 vintage is relatively newer than the local average, offering a competitive position versus older inventory, with potential value-add through targeted system upgrades and unit modernization to meet premium demand.
- Renter-heavy neighborhood and high-cost ownership market support durable multifamily demand
- Upward neighborhood occupancy trend and nationally competitive safety improvements aid retention
- 1986 vintage offers competitive positioning with value-add potential via targeted modernization
- Strong nearby employer base (media and corporate offices) underpins leasing and commute appeal
- Risks: amenity gaps (limited cafés/pharmacies) and sector cyclicality tied to media/entertainment employment