| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 76th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5220 Harmony Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1990 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5220 Harmony Ave North Hollywood 70-Unit Multifamily
High renter concentration and a high-cost ownership landscape in North Hollywood point to durable apartment demand, according to WDSuite’s CRE market data. Investor focus centers on maintaining occupancy and pricing power while managing affordability and turnover risk.
Located in North Hollywood, this Urban Core neighborhood ranks 104 out of 1,441 metro neighborhoods (top quartile among Los Angeles-Long Beach-Glendale submarkets), signaling strong fundamentals for multifamily. Neighborhood occupancy is 93.6% and the share of housing units that are renter-occupied is 76.9%, indicating a deep tenant base and support for leasing stability.
Daily needs are well covered: grocery, restaurant, and pharmacy access score in the mid-90s nationally, and cafes are also abundant. These amenity concentrations underpin renter convenience and retention, even as average school ratings sit near the national middle, suggesting education quality is serviceable but not a primary draw.
Within a 3-mile radius, demographics show a large and diversifying renter pool. While population was roughly flat in recent years, projections indicate population growth and a notable increase in households through 2028, with smaller average household sizes. This supports apartment absorption and sustained demand for smaller formats and efficient layouts.
Elevated home values relative to income (among the highest nationally) reinforce reliance on multifamily housing. Median contract rents are high for the region, and a rent-to-income ratio around 0.30 suggests some affordability pressure; for investors, that calls for thoughtful lease management and amenity-driven retention rather than aggressive concession strategies.
The property’s 1990 vintage is newer than the neighborhood’s average construction year (1982), lending competitive positioning versus older stock, while still leaving room for targeted modernization of interiors and common areas.
Neighborhood safety indicators compare favorably to many areas nationwide, with overall crime in roughly the mid-70s national percentile, indicating relatively safer conditions than the U.S. average. Year over year, both violent and property offenses show sharp declines, a constructive trend for perceived safety and leasing.
As with any dense Urban Core location, conditions can vary by block and time of day. Investors should supplement this neighborhood-level view with property-level due diligence and recent comps to validate on-the-ground conditions and security needs.
Proximity to major media, entertainment, and telecom employers supports a steady pool of renters seeking commute convenience and schedule flexibility. The following nearby companies anchor local employment and help stabilize multifamily demand:
- Radio Disney — media (1.66 miles)
- Disney — entertainment & media (2.44 miles) — HQ
- Charter Communications — telecom & cable (2.65 miles)
- Live Nation Entertainment — live entertainment (4.62 miles)
- Avery Dennison — materials & labeling (6.32 miles) — HQ
5220 Harmony Ave offers scale at 70 units and a 1990 vintage in a top-quartile Los Angeles neighborhood for multifamily performance. High renter concentration, strong amenity access, and neighborhood occupancy near the mid-90s support stable leasing, while elevated for-sale home values sustain reliance on rentals. Based on commercial real estate analysis from WDSuite, rent levels and a rent-to-income ratio near 0.30 call for disciplined renewal strategies to manage affordability pressure without over-reliance on concessions.
Relative to older local stock (average 1982), the asset’s vintage supports competitive positioning with potential to capture value through selective renovations and common-area upgrades. Three-mile demographics point to population growth and a sizable increase in households, which should expand the tenant base and help support occupancy and rent durability over the medium term.
- High renter concentration and strong amenity access support retention and leasing stability.
- 1990 vintage is newer than local average, with targeted renovation upside for competitive positioning.
- High-cost ownership market reinforces multifamily demand and reduces move-out to homeownership.
- Three-mile projections indicate population growth and more households, expanding the renter pool.
- Risk: rent-to-income near 0.30 and middling school ratings warrant focused lease management and amenity-driven retention.