| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 30th | Poor |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12023 Runnymede St, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1978 |
| Units | 30 |
| Transaction Date | 2012-09-28 |
| Transaction Price | $2,995,000 |
| Buyer | RUNNYMEDE STREET INVESTORS LLC |
| Seller | RICKARD A DOUGLAS A |
12023 Runnymede St North Hollywood Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data. The area’s deep renter base and amenity access support durable leasing while warranting active affordability and retention management.
The property sits in North Hollywood’s Urban Core within the Los Angeles-Long Beach-Glendale metro, where neighborhood occupancy is strong and trending up. At the neighborhood level, occupancy is competitive among Los Angeles-Long Beach-Glendale neighborhoods (ranked 417 out of 1,441), with performance also testing above many areas nationally (84th percentile), based on CRE market data from WDSuite. A high share of housing units are renter-occupied (ranked 31 out of 1,441 within the metro), indicating a deep tenant base that can bolster leasing stability for multifamily assets.
Amenity access is a relative strength: restaurants and cafes are in the top national percentiles (97th and 99th), and pharmacies are also elevated (98th), which helps daily convenience and neighborhood vibrancy. Grocery access is solid (92nd percentile nationally). Park and formal childcare densities are low within the neighborhood, so on-site open space or partnerships may add value for family-oriented residents.
Within a 3-mile radius, demographics show a large renter pool today (about six in ten units renter-occupied) and household counts projected to increase, supporting demand for rental units. Population is expected to resume modest growth over the next five years while average household size trends lower, which typically expands the number of households and can support occupancy stability. Median contract rents in the 3-mile area have risen and are projected to grow further, suggesting continued pricing power if operators balance renewal strategies with affordability considerations.
Vintage matters for competitiveness. Built in 1978, the asset is newer than the area’s average construction year (1966; rank 861 of 1,441 metro neighborhoods) and should compare favorably to older stock. Investors should still plan for selective modernization of systems and finishes to sustain positioning against newer deliveries and to capture value-add upside where feasible.
Safety trends are mixed but improving. The neighborhood’s crime ranking sits on the higher-crime side within the Los Angeles-Long Beach-Glendale metro (rank 208 out of 1,441), yet it performs well versus many neighborhoods nationwide (around the 81st percentile for safety). Recent year-over-year data show notable declines in both property and violent offense rates, which supports a constructive near-term view while still warranting standard operating measures such as lighting, access control, and community engagement.
For investors, the takeaway is to underwrite typical urban-core security protocols while recognizing that national comparisons and recent downward trends point to improving conditions, according to CRE market data from WDSuite.
Nearby media, entertainment, and corporate offices underpin a sizable commuter tenant base and support leasing durability, including Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Avery Dennison.
- Charter Communications — telecommunications (2.9 miles)
- Radio Disney — media (4.8 miles)
- Disney — media & entertainment (5.3 miles) — HQ
- Avery Dennison — materials & packaging (8.6 miles) — HQ
- Live Nation Entertainment — live entertainment (9.1 miles) — HQ
This 30-unit, 1978-vintage asset benefits from a deep renter base and occupancy that ranks competitively within the Los Angeles-Long Beach-Glendale metro, with neighborhood performance also strong versus national peers. Amenity-rich surroundings (food, cafes, pharmacies) enhance day-to-day convenience and support retention. The property’s vintage is newer than the neighborhood average, providing an edge over older stock while leaving room for targeted renovations to drive NOI.
Within a 3-mile radius, household counts are projected to increase and rents are expected to continue rising, reinforcing demand for rental units and potential revenue growth, based on commercial real estate analysis from WDSuite. Operators should balance pricing power with rent-to-income realities to maintain renewal rates.
- Competitive neighborhood occupancy with strong national standing supports cash-flow stability.
- High renter-occupied share in the metro indicates a deep tenant base for leasing.
- Amenity-dense location (restaurants, cafes, pharmacies) aids retention and leasing velocity.
- 1978 construction offers relative competitiveness with potential value-add through selective upgrades.
- Risks: urban-core safety perceptions within the metro, limited parks/childcare nearby, and affordability pressure requiring careful renewal management.