| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 68th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5055 Bakman Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 33 |
| Transaction Date | 1994-08-16 |
| Transaction Price | $461,500 |
| Buyer | LIAO YIU TANG |
| Seller | KEYMARAM MORTEZA |
5055 Bakman Ave North Hollywood Multifamily Investment
Strong renter concentration in an Urban Core pocket of North Hollywood supports demand depth, with occupancy referenced at the neighborhood level and abundant amenities nearby, according to WDSuite’s CRE market data. Investors may find pricing power supported by a high-cost ownership market, while lease management should account for rent-to-income affordability pressure.
Located in North Hollywood’s Urban Core, the property sits in a neighborhood rated A- (279th among 1,441 Los Angeles metro neighborhoods), indicating competitive fundamentals relative to the region. Amenity access is a clear strength: restaurant and cafe densities rank near the top among metro peers and are in the top national percentiles, supporting resident convenience and leasing appeal.
Renter demand is underpinned by a high share of renter-occupied housing units within the neighborhood (competitive among Los Angeles neighborhoods; rank 22 of 1,441), and within a 3-mile radius renters represent a majority of occupied units. This depth of the tenant base can support leasing velocity and renewal prospects, even as neighborhood occupancy (90.1%, measured for the neighborhood, not the property) sits around the national middle.
Ownership costs are elevated (home values rank among the upper tier nationally), which tends to sustain reliance on multifamily rentals and can reinforce pricing power. At the same time, neighborhood rent-to-income levels indicate affordability pressure, suggesting asset management should emphasize renewal strategies, unit quality, and amenity-value alignment.
Within a 3-mile radius, demographics show a stable to expanding renter pool: households have edged higher over the past five years and are projected to grow further alongside a modest decrease in average household size, which can translate into more households seeking apartments. Forward-looking figures indicate population and household growth through 2028, supporting tenant-base expansion and potential occupancy stability based on CRE market data from WDSuite.
The asset’s 1986 vintage is slightly newer than the neighborhood’s average construction year (1984), offering relative competitiveness versus older stock while still warranting capital planning for modernization of building systems or selective value-add upgrades to meet current renter expectations.
Counterweights include limited parks and childcare options in the immediate neighborhood and lower average school ratings (below national medians), which may be less critical for typical renter profiles here but are relevant for family-oriented leasing strategies.
Safety metrics indicate the area is competitive among Los Angeles neighborhoods (crime rank 440 out of 1,441) and performs above the national middle, with neighborhood safety in the 73rd percentile nationwide. Recent year-over-year estimates suggest notable improvement in both property and violent offense rates, a positive directional trend for investor risk assessment.
That said, property offense levels benchmark closer to national mid-to-lower tiers while violent offense sits nearer the national middle, underscoring a mixed but improving profile. For investors, the takeaway is to incorporate security-minded operations and monitor local trend lines rather than rely on block-level assumptions.
Nearby entertainment and communications employers create a sizable commuter base that supports renter demand and lease retention. The following proximate offices can contribute to leasing stability.
- Radio Disney — media (2.1 miles)
- Disney — entertainment (3.0 miles) — HQ
- Charter Communications — telecommunications (3.2 miles)
- Live Nation Entertainment — entertainment (4.6 miles)
- Live Nation Entertainment — entertainment (6.2 miles) — HQ
5055 Bakman Ave offers a 33-unit position in an amenity-rich Urban Core pocket where renter demand is deep, supported by a high neighborhood renter-occupied share and strong food-and-beverage density. The 1986 vintage is slightly newer than the neighborhood average, suggesting competitive standing versus older stock while leaving room for targeted upgrades. Elevated ownership costs tend to sustain rental reliance, though neighborhood rent-to-income levels warrant careful lease and renewal management. According to CRE market data from WDSuite, neighborhood occupancy is around the national middle and the surrounding 3-mile area is projected to see household growth through 2028, supporting tenant-base expansion.
Key considerations include leveraging proximity to major entertainment and communications employers to bolster leasing, emphasizing amenities and operational efficiency to support retention, and budgeting for modernization to enhance unit appeal. Limited parkland, fewer childcare options, and lower average school ratings may influence family-oriented demand, so positioning should focus on renter segments prioritizing convenience and access to jobs and nightlife.
- Deep renter base and Urban Core location support demand and renewal prospects
- 1986 vintage offers value-add potential through targeted modernization
- Elevated ownership costs reinforce reliance on multifamily rentals and pricing power
- Proximity to major employers underpins leasing stability
- Risks: affordability pressure (rent-to-income), softer parks/schools/childcare, and mid-pack neighborhood occupancy