| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5030 Bakman Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 2006 |
| Units | 25 |
| Transaction Date | 2004-04-30 |
| Transaction Price | $654,000 |
| Buyer | THE LANKERSHIM GROUP |
| Seller | SPECTOR IRWIN |
5030 Bakman Ave North Hollywood Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and strong amenity density, according to WDSuite’s CRE market data. Investors should view this as a renter-first pocket of North Hollywood where elevated ownership costs help sustain multifamily leasing.
North Hollywood’s Urban Core setting offers dense amenities that reinforce day-to-day livability for renters. Neighborhood-level restaurant and cafe density ranks among the very highest nationally, while grocery access is also strong (each in the top tier nationwide). These factors typically aid leasing velocity and resident retention, even as park access is limited within this neighborhood.
The property’s 2006 vintage is newer than the neighborhood’s average construction year of 1984, positioning it competitively against older stock. For investors, that suggests fewer near-term capital needs versus 1970s–1980s assets, though selective system updates or common-area refreshes may still be warranted to support rent positioning.
Neighborhood signals point to a deep renter base. The area shows a very high share of renter-occupied housing units, indicating a broad tenant pool and potential occupancy stability. Within a 3-mile radius, households have grown modestly in recent years and are projected to increase further by 2028, implying a larger tenant base and ongoing renter pool expansion. Median contract rents have trended upward over five years, and home values sit at the high end for the region, which can reinforce reliance on multifamily housing.
Relative performance indicators show this neighborhood is competitive among Los Angeles-Long Beach-Glendale metro neighborhoods (rank 279 of 1,441; A- neighborhood rating). Education quality is below national medians based on average school ratings, which may temper appeal for some family renters. At the same time, neighborhood demographics skew highly educated compared to national norms and household incomes are above many peer areas, a mix that supports professionally oriented renter demand. These dynamics align with investor takeaways often surfaced through multifamily property research using WDSuite’s datasets.
Occupancy in the neighborhood is currently below top-tier levels and has softened versus five years ago, so prudent lease management and targeted renovations may be needed to sustain performance. Still, strong amenity access and a renter-centric ecosystem position this sub-area to remain competitive within the North Hollywood context.
Safety indicators for the neighborhood are generally above metro averages, with overall crime levels comparing favorably against many Los Angeles neighborhoods (ranked 440 out of 1,441). Nationally, the area sits in the upper tiers for safety relative to comparable urban districts, indicating a comparatively better profile than many dense neighborhoods.
Recent trends have strengthened: estimated violent and property offense rates have declined sharply year over year, placing these improvements among the strongest national declines. Even so, property offenses remain closer to national mid-range levels, so standard security measures and well-lit common areas remain prudent for asset operations.
Proximity to major media and communications employers supports a steady white-collar renter base and convenient commutes for residents. The closest anchors include Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Activision Blizzard Studios.
- Radio Disney — corporate offices (2.1 miles)
- Disney — corporate offices (3.0 miles) — HQ
- Charter Communications — corporate offices (3.2 miles)
- Live Nation Entertainment — corporate offices (4.6 miles)
- Activision Blizzard Studios — corporate offices (6.6 miles)
This 25-unit asset built in 2006 offers competitive positioning within a renter-driven North Hollywood neighborhood. Newer construction relative to nearby 1980s stock supports long-term durability and the potential to command a premium with targeted upgrades. Strong amenity density and proximity to major media employers underpin tenant demand, while high regional ownership costs help sustain reliance on multifamily housing. Neighborhood occupancy has eased, so operating focus should emphasize renewal management and value-add prioritization to protect cash flow.
According to CRE market data from WDSuite, the neighborhood scores competitively within the Los Angeles-Long Beach-Glendale metro and shows strong income and education profiles versus national norms—conditions that typically support leasing momentum. Forward-looking household growth within a 3-mile radius points to a larger renter base over the medium term, balancing near-term affordability pressure signals with durable demand drivers.
- 2006 vintage provides competitive positioning versus older local stock with selective upgrade upside
- Dense amenity environment and major nearby employers support leasing and retention
- High-cost ownership market reinforces multifamily demand and pricing power potential
- Growing households within 3 miles signal a larger tenant base and occupancy support
- Risks: softer neighborhood occupancy and rent-to-income pressure require disciplined renewals and amenity-driven value-add