| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 39th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11847 Vanowen St, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1973 |
| Units | 21 |
| Transaction Date | 1996-01-10 |
| Transaction Price | $390,000 |
| Buyer | LIM HANS S G |
| Seller | BARRY POWELL REAL ESTATE INVESTMENT CO |
11847 Vanowen St North Hollywood Multifamily Investment
This 21-unit property in an urban core neighborhood shows 97.1% occupancy and strong renter demand, with 71.5% of housing units renter-occupied according to CRE market data from WDSuite.
The North Hollywood neighborhood maintains strong rental fundamentals with 97.1% occupancy, ranking in the top quartile nationally among 1,441 metro neighborhoods. The area's 71.5% renter-occupied housing units reflect sustained multifamily demand, supported by a mature rental market where median contract rents of $1,638 have grown 35.8% over five years.
Built in 1973, this property aligns with the neighborhood's 1976 average construction year, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Demographics within a 3-mile radius show 238,397 residents with household income growth of 34.3% over five years, supporting rental demand as elevated home values at $714,884 median maintain rental market participation.
The urban core location provides strong amenity access with 9.37 grocery stores per square mile ranking in the 99th percentile nationally, plus 2.34 childcare facilities per square mile in the 94th percentile. However, investors should note the area's limited pharmacy and cafe density, both ranking at the bottom of metro comparisons, which could affect tenant convenience preferences.
Forward-looking demographics indicate household growth of 35.6% projected through 2028, with median income expected to reach $105,842, a 44.1% increase that should support rent growth potential. The rent-to-income ratio of 0.32 suggests affordability pressure that requires careful lease management and retention strategies.
The neighborhood demonstrates improving safety trends with property crime declining 85.3% year-over-year, ranking in the 99th percentile nationally for crime reduction. Violent crime rates also decreased 96.2% annually, placing the area in the top percentile for safety improvements among metro neighborhoods.
Current crime levels remain moderate, with the neighborhood ranking 198th of 1,441 metro neighborhoods for overall crime, placing it above metro median for safety. Property offense rates of 146.4 per 100,000 residents and violent crime at 11.8 per 100,000 residents suggest manageable risk levels for multifamily operations, though investors should maintain standard security protocols.
The property benefits from proximity to major entertainment and corporate employers that support workforce housing demand in the North Hollywood area.
- Charter Communications — telecommunications (2.7 miles)
- Radio Disney — media & entertainment (4.0 miles)
- Disney — entertainment & media (4.6 miles) — HQ
- Live Nation Entertainment — entertainment services (7.0 miles)
- Avery Dennison — materials & manufacturing (8.2 miles) — HQ
This 21-unit North Hollywood property presents a compelling value-add opportunity in a neighborhood showing 97.1% occupancy and strong rental demand fundamentals. Built in 1973, the property offers renovation upside potential while benefiting from an established rental market where 71.5% of housing units are renter-occupied. Demographic growth projections show household expansion of 35.6% through 2028, supporting long-term tenant demand as elevated home values maintain rental market participation.
The urban core location provides operational advantages through high amenity density, particularly grocery and childcare access ranking in top national percentiles. However, multifamily property research indicates rent-to-income ratios of 0.32 require active lease management, while limited pharmacy and cafe density may affect tenant retention compared to more amenity-rich submarkets.
- Strong occupancy fundamentals with 97.1% neighborhood rate ranking top quartile nationally
- Value-add renovation potential in 1973 building with established rental market
- Projected 35.6% household growth through 2028 supporting tenant demand
- High grocery and childcare amenity density enhancing tenant appeal
- Risk consideration: Rent-to-income pressure requiring careful lease management strategies