| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5047 Bakman Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2011-03-30 |
| Transaction Price | $13,300,000 |
| Buyer | WOODLAND TRIO 2011 |
| Seller | NOHO CONSOLIDATED SPE LLC |
5047 Bakman Ave, North Hollywood Multifamily Investment
Renter demand is supported by high neighborhood amenity density and a deep renter base, according to WDSuite’s CRE market data, while ownership costs in Los Angeles County continue to channel households toward apartments. Neighborhood occupancy refers to the surrounding area, not this specific property.
This Urban Core location in North Hollywood scores A- at the neighborhood level and is competitive among Los Angeles-Long Beach-Glendale neighborhoods. Amenity access is a clear strength: cafes, restaurants, groceries, and pharmacies all rank in the top percentiles nationally, which tends to reinforce leasing velocity and day-to-day renter convenience. Parks and formal childcare options are thinner locally, which investors should consider when targeting family-oriented demand.
Rents in the neighborhood sit well above national levels and have grown over the last five years, while neighborhood occupancy is around the national middle. The share of renter-occupied housing is very high at the neighborhood level, indicating depth in the tenant base and generally supporting demand stability for multifamily. Median home values are elevated relative to U.S. norms, which typically sustains reliance on rentals and can support pricing power when managed carefully.
Within a 3-mile radius, households have increased modestly despite a slight population dip in recent years, and forecasts point to population growth and a substantial increase in households by 2028. Smaller average household size and rising median incomes suggest a broadening renter pool and potential for sustained absorption. Use this context to inform unit mix and leasing strategy rather than as a projection of property performance. This synthesis is based on multifamily property research from WDSuite.
Education signals are mixed: the neighborhood’s average school rating trends on the lower side, yet the local adult population includes a high share with bachelor’s degrees, which often correlates with stable professional employment and steady renter demand. On the income side, neighborhood NOI per unit benchmarks are strong versus national peers, reinforcing that the area can support institutional operations when expenses are controlled.
Safety indicators for the surrounding neighborhood compare favorably to many areas nationwide, with crime levels trending safer than average in national percentile terms. Year over year, both violent and property offense rates have declined sharply according to WDSuite’s data, which, if sustained, can support leasing confidence and retention. These measures describe the neighborhood context rather than the property itself.
Within the Los Angeles-Long Beach-Glendale metro (1,441 neighborhoods), the area sits closer to the metro middle on safety, reminding investors to balance positive national comparisons with on-the-ground management practices such as lighting, access control, and resident engagement.
Proximity to entertainment and corporate offices supports a steady regional employment base and commute convenience for renters, including Disney, Charter Communications, Live Nation Entertainment, Radio Disney, and Activision Blizzard Studios.
- Radio Disney — media (2.16 miles)
- Disney — entertainment & studios (3.04 miles) — HQ
- Charter Communications — telecommunications (3.19 miles)
- Live Nation Entertainment — entertainment (4.63 miles)
- Activision Blizzard Studios — gaming & media (6.66 miles)
The North Hollywood neighborhood combines strong amenity density with a deep renter-occupied housing base, supporting multifamily demand and leasing stability. Elevated for-sale home values in the area reinforce reliance on rentals, while neighborhood NOI per unit benchmarks rank among stronger national peers, signaling the potential to maintain competitive operations when expenses are managed. According to CRE market data from WDSuite, neighborhood occupancy trends near the national middle, so asset-level performance hinges on execution and positioning relative to comparable stock.
Within a 3-mile radius, households are up and are projected to expand further alongside rising incomes, indicating a larger tenant base ahead even as average household size trends lower. These dynamics support continued absorption and retention potential; however, rent-to-income levels warrant thoughtful lease management to balance pricing power with renewal risk.
- Amenity-rich Urban Core location that supports leasing velocity and resident convenience.
- Deep renter concentration at the neighborhood level underpins tenant base depth and demand stability.
- Elevated ownership costs locally can sustain renter reliance and support pricing power.
- Growing 3-mile household counts and rising incomes point to a larger future renter pool.
- Risk: Neighborhood occupancy is around the national middle and rent-to-income is elevated, requiring disciplined leasing and expense control.