| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 30th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11720 W Runnymede St, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1983 |
| Units | 52 |
| Transaction Date | 2008-04-28 |
| Transaction Price | $1,780,000 |
| Buyer | SAUER TIMOTHY J |
| Seller | RUNNYMEADE LLC |
11720 W Runnymede St North Hollywood Multifamily Opportunity
Neighborhood fundamentals point to above-median occupancy and deep renter demand, according to CRE market data from WDSuite. For investors, this supports stable leasing dynamics in an Urban Core pocket of North Hollywood.
North Hollywood’s Urban Core setting offers strong renter infrastructure and daily convenience, with cafes, restaurants, groceries, and pharmacies concentrated at levels that compare favorably both locally and nationally. According to WDSuite’s commercial real estate analysis, cafe and restaurant densities rank among the highest tiers nationally, while grocery and pharmacy access are also strong; parks and childcare options are more limited, which matters for family-oriented renter segments.
The neighborhood shows high occupancy and an elevated share of renter-occupied housing units relative to Los Angeles, signaling a sizable tenant base and day‑to‑day demand depth. Rents benchmark above many U.S. neighborhoods, and the area sits above the metro median for occupancy and in the top quartile nationally, supporting lease retention and pricing discipline when managed carefully.
Within a 3‑mile radius, recent data show a modest population pullback alongside slight household growth, implying smaller average household sizes. Forward-looking projections point to renewed population growth and a larger household count over the next five years, which would expand the local renter pool and support occupancy stability.
The property’s 1983 construction is newer than the neighborhood’s average vintage (1960s era), providing a relative competitive edge versus older stock, while still warranting targeted capital planning for aging systems or value‑add upgrades to capture rent premiums.
Safety indicators for the neighborhood compare favorably in a regional and national context. The area performs within the top quartile nationally for overall safety and is competitive among Los Angeles neighborhoods, based on WDSuite’s CRE data. Recent measures also indicate notable year‑over‑year improvements in both violent and property offense trends, which, if sustained, can reinforce resident retention and leasing stability.
As with any Urban Core location, conditions can vary block to block; investors should underwrite to submarket trends and property‑level controls (lighting, access management, and activation of common areas) rather than relying on a single statistic.
Nearby employers in media, communications, and corporate services underpin a large commuter workforce and sustained renter demand. The following anchors are within an easy drive, supporting leasing and retention for workforce and young professional households.
- Charter Communications — communications (2.6 miles)
- Radio Disney — media (4.5 miles)
- Disney — media & entertainment (5.0 miles) — HQ
- Live Nation Entertainment — entertainment offices (7.6 miles)
- Avery Dennison — materials & manufacturing (8.3 miles) — HQ
This 52‑unit, 1983‑vintage asset aligns with a renter‑heavy North Hollywood neighborhood where occupancy ranks above the metro median and in the top quartile nationally. Amenity density is strong (cafes, restaurants, groceries, pharmacies), and proximity to major media and corporate employers supports steady leasing from commuters and young professionals. Based on CRE market data from WDSuite, the surrounding 3‑mile area shows household growth and projected population gains that expand the tenant base, while the property’s newer‑than‑area vintage offers value‑add potential through targeted modernization.
Key underwriting considerations include managing affordability pressure relative to incomes, addressing limited parks and childcare access for family renters, and planning for system upgrades typical of 1980s construction. With disciplined operations and selective capital improvements, the asset is positioned to compete effectively against older neighborhood stock.
- High neighborhood occupancy and deep renter concentration support demand durability
- Amenity‑rich Urban Core location near major media and corporate employers
- 1983 vintage provides competitive positioning with value‑add and systems‑upgrade upside
- 3‑mile outlook indicates expanding renter pool, aiding occupancy stability
- Risks: affordability pressure may temper rent growth; limited parks/childcare; ongoing capex for 1980s systems