| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 30th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12001 Runnymede St, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1978 |
| Units | 55 |
| Transaction Date | 2021-02-16 |
| Transaction Price | $2,875,500 |
| Buyer | R RUNNYMEDE LLC |
| Seller | Z RUNNYMEDE LLC |
12001 Runnymede St North Hollywood Multifamily Investment
Neighborhood occupancy remains elevated with strong renter demand, according to WDSuite’s CRE market data, supporting durable income for a 55-unit asset in an Urban Core location. Metrics cited reflect neighborhood-level conditions, not property performance.
North Hollywood’s Urban Core setting around 12001 Runnymede St shows healthy rental dynamics at the neighborhood level, with occupancy trending high and stable over the past five years. A large share of housing units are renter-occupied, indicating a deep tenant pool that can support leasing and retention through cycles.
Amenity access is a clear strength: the neighborhood ranks in the upper tiers nationally for restaurants, cafes, groceries, and pharmacies, offering daily convenience that helps sustain renter demand. Formal childcare centers and parks are limited within the neighborhood footprint, so investors should underwrite around lifestyle amenities driven more by retail and services than green space.
Within a 3-mile radius, households have grown modestly and are projected to expand further, with forecasts calling for additional household growth and slightly smaller average household sizes. That pattern typically broadens the renter base and can support occupancy stability. Median contract rents in the neighborhood sit above national medians and have risen over the last five years, while rent-to-income ratios trend lower than many urban submarkets, a combination that can aid lease retention and disciplined pricing. These trends are based on multifamily property research from WDSuite and reflect neighborhood-level data.
The asset’s 1978 vintage is newer than much of the surrounding housing stock. For investors, that can provide a competitive edge versus older buildings, while still leaving room for targeted value-add and systems modernization to enhance NOI and maintain positioning against newer deliveries across the Los Angeles metro.
Neighborhood safety indicators benchmark favorably in national terms, landing in the top quartile nationwide, according to WDSuite. Recent trend data shows pronounced year-over-year improvement in both violent and property offense rates at the neighborhood level, placing the area among the stronger improvers nationally. As always, safety can vary block to block and over time; investors should validate on-the-ground conditions during due diligence.
Proximity to major employers supports a broad renter base and commute convenience for residents, with nearby roles spanning telecommunications, media, entertainment, live events, and materials manufacturing.
- Charter Communications — telecommunications (2.9 miles)
- Radio Disney — media (4.7 miles)
- Disney — entertainment (5.2 miles) — HQ
- Live Nation Entertainment — live events (7.8 miles)
- Avery Dennison — materials & labels (8.6 miles) — HQ
For a 55-unit property built in 1978, the local fundamentals point to steady renter demand and potential value-add upside. The neighborhood posts high occupancy and a very renter-heavy housing mix, while amenity access (restaurants, cafes, groceries, pharmacies) is a relative strength versus many U.S. neighborhoods. Rents have risen over the past five years, yet neighborhood rent-to-income levels remain comparatively manageable, which can support retention. The 1978 vintage is newer than much of the area’s stock, suggesting competitive positioning with scope for targeted renovations and systems updates to drive NOI.
Within a 3-mile radius, households are projected to increase and average household size to edge lower, which typically expands the renter pool and supports leasing stability. Safety metrics have improved materially year over year at the neighborhood level, and proximity to diversified employment across telecommunications, media, entertainment, and corporate headquarters underpins demand. These observations are grounded in the Los Angeles metro context and validated by commercial real estate analysis from WDSuite.
- High neighborhood occupancy and deep renter-occupied housing base support durable leasing
- Amenity-rich Urban Core location (food, cafes, groceries, pharmacies) enhances tenant appeal
- 1978 vintage offers value-add potential; plan for targeted capex and systems updates
- 3-mile household growth and smaller household sizes point to a larger renter base
- Risks: limited nearby parks/childcare and the need for renovation scope management