| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 84th | Best |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11505 Riverside Dr, North Hollywood, CA, 91602, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2005-12-01 |
| Transaction Price | $6,234,375 |
| Buyer | A&Y Investments 2, LLC |
| Seller | Ocean Properties Trust (et |
11505 Riverside Dr North Hollywood Multifamily Investment
This 36-unit property sits within a neighborhood ranking in the top 15% nationally for demographics and housing fundamentals, with occupancy rates remaining stable according to CRE market data from WDSuite.
The property is located in an Urban Core neighborhood with strong demographic fundamentals, ranking 123rd among 1,441 metro neighborhoods for demographics and achieving the 84th national percentile. Within a 3-mile radius, the area supports a population of approximately 203,000 residents with a median household income of $94,000. The neighborhood maintains a 71.1% share of renter-occupied housing units, ranking in the 97th percentile nationally and indicating strong rental demand dynamics.
Built in 1987, this property represents value-add potential in a neighborhood where the average construction year is 1970, suggesting opportunities for differentiation through targeted capital improvements. The area demonstrates above-average amenity access, with 2.75 grocery stores per square mile ranking in the 88th percentile nationally and substantial restaurant density at 12.38 per square mile in the 93rd percentile, supporting tenant retention through convenience.
Occupancy trends show neighborhood-level rates at 92.4%, with median contract rents at $1,956 reflecting the area's positioning within the Los Angeles market. Demographic projections within the 3-mile radius indicate household growth of 37.7% through 2028, expanding the potential tenant base from approximately 88,600 to 121,900 households. This renter pool expansion, combined with forecast median household income growth to $133,000, supports sustained multifamily demand.
The neighborhood's high home values, with a median of $1.02 million ranking in the 97th percentile nationally, reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing. The rent-to-income ratio suggests affordability considerations that require careful lease management and renewal strategies to maintain occupancy stability.
The neighborhood demonstrates improving safety trends, with property crime rates declining 85.7% year-over-year and violent crime rates decreasing 92.3%, both ranking in the 99th percentile nationally for improvement. Current crime metrics place the area at the 78th percentile nationally, indicating above-average safety conditions compared to neighborhoods nationwide.
Property offense rates of 209 incidents per 100,000 residents rank 488th among 1,441 metro neighborhoods, while violent crime rates remain low at approximately 19 incidents per 100,000 residents. These metrics, combined with the significant year-over-year improvements, suggest a stabilizing security environment that supports tenant retention and property values.
The property benefits from proximity to major entertainment and media employers, providing workforce housing for North Hollywood's creative economy professionals.
- Radio Disney — media and entertainment (2.4 miles)
- Disney — entertainment conglomerate (3.3 miles) — HQ
- Charter Communications — telecommunications (3.6 miles)
- Live Nation Entertainment — live entertainment (4.5 miles)
- Activision Blizzard Studios — gaming and entertainment (6.3 miles)
This North Hollywood property offers exposure to a demographically strong neighborhood with substantial rental demand fundamentals. The area's 97th percentile national ranking for renter occupancy share, combined with projected household growth of 37.7% through 2028, supports long-term occupancy stability. Commercial real estate analysis from WDSuite indicates the neighborhood's A-rating reflects its positioning in the top 15% of metro areas for overall investment fundamentals.
Built in 1987, the property presents value-add opportunities through targeted improvements that can differentiate it within a neighborhood where average construction dates to 1970. The 36-unit scale provides operational efficiency while remaining manageable for hands-on ownership. High local home values exceeding $1 million reinforce rental demand, though rent-to-income dynamics require active lease management to optimize retention and minimize concessions.
- Strong demographic fundamentals with 84th percentile national ranking and growing household base
- High rental demand supported by 97th percentile renter occupancy share and elevated ownership costs
- Value-add potential through strategic improvements to 1987-vintage property
- Proximity to major entertainment employers supporting workforce housing demand
- Risk consideration: Rent-to-income ratios require careful lease management and renewal strategies