| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 39th | Fair |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12148 Hart St, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 2012 |
| Units | 25 |
| Transaction Date | 2007-12-10 |
| Transaction Price | $780,000 |
| Buyer | REYES PROPERTIES LLC |
| Seller | BOSNOYAN ABRAHAM |
12148 Hart St North Hollywood Multifamily Investment
Neighborhood occupancy remains elevated with strong renter demand, according to WDSuite s CRE market data, suggesting stable leasing fundamentals for well-managed assets in this Urban Core pocket of North Hollywood.
Built in 2012, the property is newer than the neighborhood s average vintage (1970s), which can provide a competitive edge versus older stock and reduce near-term capital planning while still allowing for targeted modernization to drive rent premiums.
Local livability supports multifamily performance: grocery access is dense (competitive nationally), restaurants are plentiful, and parks are accessible, while pharmacy and caf e9 density is thinner. Average school ratings in the area trend below national norms, a consideration for family-oriented leasing strategies. Neighborhood housing conditions are above metro median among 1,441 Los Angeles-Long Beach-Glendale neighborhoods, and area NOI-per-unit benchmarks rank solidly on a national basis indicating operational potential for professionally managed assets.
Renter concentration is high at the neighborhood level (share of housing units that are renter-occupied), providing depth to the tenant base and supporting occupancy stability. The neighborhood occupancy rate is strong and has trended upward in recent years; these are neighborhood measures, not property-specific performance. Elevated home values relative to incomes characterize a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can support pricing power when paired with sound lease management.
Within a 3-mile radius, demographics show a slight population dip in recent years but growth in households and income levels, with forecasts pointing to additional household gains and a smaller average household size. Together, this implies a larger tenant pool over time and supports demand for well-located, professionally operated units near employment and services.
Safety metrics for the neighborhood are competitive nationally, landing in the top quartile of neighborhoods across the country based on WDSuite s data. Recent estimates also indicate meaningful year-over-year declines in both property and violent offense rates. As always, safety can vary by block and over time; investors should evaluate on-the-ground conditions alongside these broader indicators for the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods).
Proximity to major media and corporate offices underpins a sizable commuter renter base and supports retention for workforce and mid-market units. Nearby anchors include Charter Communications, Radio Disney, The Walt Disney Company, Live Nation Entertainment, and Avery Dennison.
- Charter Communications telecommunications & media offices (3.1 miles)
- Radio Disney media offices (4.5 miles)
- Disney entertainment corporate offices (5.0 miles) HQ
- Live Nation Entertainment entertainment corporate offices (7.3 miles)
- Avery Dennison materials & packaging corporate offices (8.6 miles) HQ
This 2012-vintage, 25-unit asset in North Hollywood benefits from strong neighborhood occupancy and a high renter-occupied share, supporting leasing stability relative to older local stock. Elevated ownership costs in this part of Los Angeles County sustain renter reliance on multifamily, while area NOI-per-unit benchmarks are competitive nationally. Based on commercial real estate analysis from WDSuite, the surrounding 3-mile area shows household growth and rising incomes alongside forecasts for further renter pool expansion, which can reinforce renewal velocity and pricing power for quality operations.
The property s newer construction lowers immediate CapEx exposure compared with 1970s-era comparables, yet targeted renovations and amenity upgrades can still unlock value. Investors should balance this with prudent lease management given higher rent-to-income ratios at the neighborhood level and modest recent population softness, even as forecasts point to household gains.
- Newer 2012 vintage competes well against older neighborhood stock while allowing selective value-add upgrades
- High neighborhood occupancy and strong renter concentration support demand resilience (neighborhood metrics, not property-specific)
- High-cost ownership market reinforces reliance on rentals, aiding retention and pricing power
- 3-mile demographics point to household growth and income gains, supporting a larger tenant base over time
- Risks: rent-to-income affordability pressure, softer recent population trend, and subpar school ratings may require tailored leasing strategy