| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5014 N Klump Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1988 |
| Units | 79 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5014 N Klump Ave North Hollywood Multifamily Investment
This 79-unit property built in 1988 operates in a neighborhood with 85% rental occupancy, significantly above national averages. The area's high education levels and proximity to major entertainment employers support stable renter demand according to CRE market data from WDSuite.
The North Hollywood neighborhood ranks in the top quartile nationally for education levels, with 46.3% of residents holding bachelor's degrees. This educated demographic, aggregated within a 3-mile radius, includes a substantial workforce supporting the area's entertainment and media industry cluster. The neighborhood maintains an 85% rental occupancy rate, ranking in the 99th percentile nationally for renter-occupied housing units, indicating strong structural rental demand.
Built in 1988, this property aligns with the neighborhood's average construction year of 1984, positioning it within established housing stock that may offer value-add renovation opportunities for investors focused on capital improvements. The area's median rent of $2,182 reflects the premium commanded by locations with high-skilled tenant bases, while the rent-to-income ratio suggests affordability pressures that support lease retention among current renters.
Demographic projections within the 3-mile radius show household growth of 37% by 2028, with median income expected to rise 41% to $130,406. This expansion in higher-income households supports pricing power for well-positioned multifamily assets. The neighborhood's amenity density includes 62 restaurants per square mile and 8.6 grocery stores per square mile, both ranking in the 99th percentile nationally, enhancing tenant appeal and retention potential.
Home values averaging $902,574 in the neighborhood limit ownership accessibility, sustaining rental demand. The elevated ownership costs reinforce reliance on multifamily housing, particularly given the area's concentration of entertainment industry professionals who value location proximity over homeownership commitments.
The neighborhood's crime metrics show mixed trends relevant to investor considerations. Property crime rates rank in the 65th percentile nationally among neighborhoods, indicating moderate safety performance compared to other urban areas. However, property crime has declined 78% year-over-year, ranking in the 97th percentile for improvement trends, suggesting positive momentum in neighborhood conditions.
Violent crime rates remain low at 20 incidents per 100,000 residents, with a 98% year-over-year decline that ranks in the top percentile nationally for improvement. These trending safety metrics support the area's appeal to the educated professional tenant base, though investors should monitor whether recent improvements represent sustainable patterns or temporary fluctuations.
The North Hollywood submarket benefits from proximity to major entertainment and media employers that support workforce housing demand, with several Fortune 500 companies maintaining operations within commuting distance.
- Radio Disney — media and entertainment (2.0 miles)
- Disney — entertainment and media (2.9 miles) — HQ
- Charter Communications — telecommunications (3.2 miles)
- Live Nation Entertainment — entertainment services (4.5 miles)
- Activision Blizzard Studios — gaming and technology (6.6 miles)
This 79-unit North Hollywood property operates in a neighborhood with fundamentals that support multifamily investment performance. The area's 85% rental occupancy rate ranks in the 99th percentile nationally, while the concentration of educated professionals (46.3% with bachelor's degrees) provides a stable tenant base. Commercial real estate analysis from WDSuite indicates the neighborhood's NOI per unit averages $13,482, ranking in the 92nd percentile among metro neighborhoods, reflecting strong income-generating potential.
Built in 1988, the property's vintage aligns with neighborhood norms and may present value-add opportunities through strategic capital improvements. Demographic projections show 37% household growth by 2028 within a 3-mile radius, expanding the renter pool while median incomes are forecast to increase 41%. The area's elevated home values averaging $902,574 sustain rental demand by limiting ownership accessibility, particularly among entertainment industry professionals who value location convenience.
- Neighborhood rental occupancy in 99th percentile nationally at 85%
- 37% projected household growth through 2028 expands tenant base
- Proximity to Disney, Charter Communications, and entertainment employers
- High home values sustain rental demand among educated professionals
- Rent-to-income pressures may impact lease renewals and require active management