| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 41st | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11741 Gilmore St, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1987 |
| Units | 38 |
| Transaction Date | 2011-03-15 |
| Transaction Price | $6,100,000 |
| Buyer | COHAN GEORGE H |
| Seller | CHATEAU GILMORE PARTNERS LLC |
11741 Gilmore St North Hollywood Multifamily Investment
This 38-unit property positions investors in a neighborhood ranking in the 73rd percentile nationally for safety metrics, with commercial real estate analysis from WDSuite showing sustained rental demand in an urban core location.
Built in 1987, this North Hollywood property offers potential value-add opportunities as the neighborhood's average construction year of 1965 suggests renovation upside relative to surrounding building stock. The 38-unit complex features 1,032 square foot average unit sizes in a market where 58.2% of housing units are renter-occupied, ranking in the 93rd percentile nationally for rental tenure concentration.
Neighborhood-level occupancy stands at 90.5%, though down 5.8 percentage points over five years, indicating market softening that warrants attention to concessions and renewal strategies. Contract rents average $1,721 for one-bedroom units with 33.5% growth over five years, while demographic data within a 3-mile radius shows 66.6% of housing units are renter-occupied, supporting multifamily demand fundamentals.
The area ranks 202nd among 1,441 metro neighborhoods for amenities, placing it in the 79th percentile nationally with strong restaurant density (40.1 per square mile) and pharmacy access (4.0 per square mile). However, median household income of $67,798 ranks in the 40th percentile nationally, creating potential affordability pressure with rent-to-income ratios that may impact lease retention and renewal pricing power.
Forward-looking demographics within the 3-mile radius project household growth of 35.7% through 2028, expanding the potential renter pool, while median household income is forecast to increase 44% to $111,560, potentially improving tenant quality and payment reliability over the investment horizon.
The neighborhood demonstrates above-average safety metrics, ranking 424th among 1,441 Los Angeles metro neighborhoods, placing it in the 73rd percentile nationally for crime performance. Property offense rates have declined significantly, dropping 86.1% year-over-year, which ranks in the 99th percentile nationally for improvement trends.
Violent crime rates show similar positive trajectory with a 91.3% year-over-year decline, ranking in the 99th percentile nationally for improvement. Current violent offense rates of 35.4 per 100,000 residents rank near the metro median, providing a stable security environment that supports tenant retention and property values.
The property benefits from proximity to major entertainment and media employers, providing workforce housing for a diverse employment base that supports consistent rental demand.
- Charter Communications — telecommunications (2.7 miles)
- Radio Disney — media and entertainment (3.6 miles)
- Disney — entertainment and media (4.2 miles) — HQ
- Live Nation Entertainment — entertainment services (6.5 miles)
- Avery Dennison — materials and manufacturing (7.9 miles) — HQ
This 1987-vintage property presents value-add potential in a neighborhood with older building stock, positioned for investors seeking renovation upside in North Hollywood's urban core location. According to multifamily property research from WDSuite, the area maintains strong rental tenure concentration at 58.2% of housing units, ranking in the 93rd percentile nationally, while projected household growth of 35.7% through 2028 within a 3-mile radius supports long-term tenant demand expansion.
The investment case benefits from significant safety improvements with property and violent crime rates declining over 86% year-over-year, creating a more attractive tenant environment. However, current neighborhood occupancy at 90.5% has softened from previous levels, requiring active lease management and potentially impacting near-term cash flows until market conditions stabilize.
- Value-add opportunity with 1987 construction year versus 1965 neighborhood average
- Strong rental market fundamentals with 93rd percentile national ranking for renter tenure
- Projected 35.7% household growth through 2028 supporting tenant demand expansion
- Proximity to major entertainment employers including Disney headquarters
- Risk: Neighborhood occupancy softening to 90.5% requires active lease management