| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 76th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4824 Craner Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1988 |
| Units | 26 |
| Transaction Date | 2014-05-13 |
| Transaction Price | $5,300,053 |
| Buyer | OTSEGO APARTMENTS LLC |
| Seller | YESCHKO FLORENCE J |
4824 Craner Ave North Hollywood Multifamily Investment
Neighborhood renter-occupied housing is high, supporting demand and occupancy stability for a 26-unit asset, according to WDSuite s CRE market data. Strong local amenities and proximity to major employers add depth to the tenant base.
Situated in North Hollywood s Urban Core, the property benefits from a neighborhood rated A with strong amenity access and a deep renter pool. The neighborhood s renter-occupied share is elevated, indicating a broad tenant base that can support leasing velocity and renewal rates. Median home values are high relative to incomes, which typically sustains reliance on multifamily rentals and can reinforce pricing power for well-located assets.
Amenity access is a clear strength: grocery, restaurant, pharmacy, and park density place the neighborhood in the top quartile nationally, and it ranks 242 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods for overall amenities (top quartile among metro peers). Caf e9 density is also competitive nationally. These location fundamentals tend to support retention and day-to-day renter convenience.
Neighborhood occupancy of 93.6% sits above the national median (63rd percentile), with NOI per unit metrics in the 92nd percentile nationally a signal of market-level income potential rather than a guarantee for any single asset. Average school ratings are around the national midrange, which may temper some family-driven demand but is often offset in urban submarkets by access to jobs and amenities.
Within a 3-mile radius, demographics show stable-to-rising long-term demand indicators: households are projected to increase meaningfully over the next five years, even as average household size trends smaller. This pattern generally expands the renter pool and supports occupancy stability for professionally managed multifamily properties.
The asset s 1988 construction is slightly newer than the neighborhood s average vintage (1982). Investors should plan for targeted modernization and systems updates typical for late-1980s buildings; selective renovations can enhance competitive positioning against older stock.
Safety metrics are mixed but trending positively. The neighborhood ranks 357 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods for overall crime, placing it above the metro median. Nationally, it sits in roughly the 76th percentile for combined safety indicators, with violent-offense rates modestly better than national averages and property-offense rates closer to midrange.
Recent year-over-year movement is favorable: estimated violent and property offense rates have declined sharply on a trend basis, placing those improvements among the strongest nationally. As always, investors should validate micro-location dynamics and property-level security measures as part of standard diligence.
Proximity to entertainment and media employers underpins local renter demand, offering short commute times that support leasing and retention for workforce and creative-class tenants. The nearby base includes Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Avery Dennison.
- Radio Disney corporate offices (1.6 miles)
- Disney corporate offices (2.5 miles) HQ
- Charter Communications corporate offices (3.2 miles)
- Live Nation Entertainment corporate offices (6.0 miles) HQ
- Avery Dennison corporate offices (6.4 miles) HQ
4824 Craner Ave offers investors exposure to a renter-centric North Hollywood location with strong amenity access and proximity to major employers. Neighborhood occupancy trends are solid and the high-cost ownership landscape reinforces reliance on multifamily housing, supporting depth of demand and potential pricing power. According to CRE market data from WDSuite, the neighborhood s NOI per unit benchmarks rank well nationally, and home values sit in the upper percentiles, both consistent with resilient renter demand in urban Los Angeles nodes.
Built in 1988, the property is slightly newer than the area s average vintage, suggesting manageable capital needs with potential renovation and modernization upside. Within a 3-mile radius, projections show meaningful household growth alongside smaller household sizes, which typically expands the renter pool and supports occupancy stability for professionally operated multifamily assets.
- Renter-centric neighborhood supports leasing velocity and renewal potential
- Strong amenity access and employer proximity underpin daily convenience and retention
- High home values relative to incomes favor sustained multifamily demand
- 1988 vintage offers targeted value-add potential through selective renovations
- Considerations: midrange school ratings and typical urban safety diligence