| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 39th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11952 W Hart St, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1989 |
| Units | 28 |
| Transaction Date | 1999-09-07 |
| Transaction Price | $900,000 |
| Buyer | AZARAKHSH SASAN |
| Seller | HUNT DONALD G |
11952 W Hart St North Hollywood Multifamily Investment
Neighborhood occupancy is strong with a deep renter base, supporting durable cash flow according to WDSuite’s CRE market data. The 1989 vintage offers a competitive position versus older local stock while still allowing targeted upgrades to drive returns.
Located in North Hollywood’s Urban Core, the property benefits from a renter-driven neighborhood and sustained occupancy around the area. The local housing stock skews renter-occupied at the neighborhood level, signaling depth in tenant demand and support for lease-up and renewal stability. Elevated home values in the area reflect a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and landlord pricing power.
Amenity access is a relative strength: grocery availability ranks in the top quartile nationally, and restaurants and childcare are also top quartile compared with neighborhoods nationwide. By contrast, cafes and pharmacies are limited nearby, which can modestly influence day-to-day convenience but is unlikely to override core housing fundamentals for renters focused on proximity to jobs.
The property’s 1989 construction is newer than the neighborhood’s average vintage, offering a competitive edge versus older buildings. Investors should still plan for aging systems and selective modernization to sharpen positioning against newer deliveries, but the relative vintage supports defensibility on rents and occupancy.
Within a 3-mile radius, demographics show a slight population dip in recent years alongside a small increase in households—pointing to smaller household sizes and a stable, diversified renter pool. Projections through 2028 indicate population and household growth, expanding the local tenant base and supporting occupancy stability. Median household incomes have trended upward, and neighborhood-level rents have grown, suggesting room for continued performance with prudent lease management and unit-level improvements. In this high-cost ownership context, elevated value-to-income ratios and strong rent-to-income readings underscore the need for disciplined renewal strategies to manage affordability pressure while sustaining collections.
At the neighborhood level, occupancy is above metro and national medians, and net operating income per unit trends are competitive among Los Angeles neighborhoods, according to WDSuite’s commercial real estate analysis. Average school ratings are below national norms, which may matter for family-oriented renters but has limited impact on demand from singles and roommates drawn by job access and amenities.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area performs in the top quintile for safety, suggesting relatively favorable conditions. However, within the Los Angeles metro (1,441 neighborhoods), the neighborhood’s crime rank falls on the less favorable side, indicating it is below the metro average on this measure. Recent data show notable year-over-year declines in both violent and property offense rates, pointing to an improving trend. As always, investors should underwrite to submarket-level trends rather than block-level assumptions and consider property-level security measures in CapEx planning.
Proximity to major media and corporate employers supports renter demand and commute convenience, which can aid retention and stabilize leasing. Nearby anchors include Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Avery Dennison.
- Charter Communications — telecommunications (2.8 miles)
- Radio Disney — media offices (4.3 miles)
- Disney — entertainment studios (4.8 miles) — HQ
- Live Nation Entertainment — live entertainment offices (7.2 miles)
- Avery Dennison — materials manufacturing (8.4 miles) — HQ
11952 W Hart St is a 28-unit, 1989-vintage asset positioned in a renter-heavy North Hollywood neighborhood where occupancy is consistently high. Newer-than-average vintage versus local stock supports competitiveness, while targeted renovations can unlock incremental rent and retention gains. Elevated ownership costs in the area sustain reliance on rental housing, and nearby employment nodes broaden the renter pool and support ongoing demand.
According to CRE market data from WDSuite, neighborhood occupancy and income fundamentals are favorable relative to many Los Angeles submarkets, while national comparisons show strong amenity access. Forward-looking demographics within a 3-mile radius point to growth in households, indicating a larger tenant base over time. Underwriting should account for affordability pressure and neighborhood safety variation within the metro, balanced against improving crime trends and strong employment access.
- Renter-heavy neighborhood and above-median occupancy support durable cash flow
- 1989 vintage offers competitive positioning with value-add and modernization upside
- Elevated ownership costs reinforce rental demand and landlord pricing power
- Proximity to major employers broadens the tenant base and aids retention
- Risks: affordability pressure and metro-relative safety variation require disciplined lease and CapEx planning