| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 76th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5315 Harmony Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5315 Harmony Ave North Hollywood Multifamily Investment
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and steady occupancy levels, according to WDSuite’s CRE market data. The property’s North Hollywood location offers scale at 28 units with positioning for durable leasing in an Urban Core submarket.
North Hollywood s Urban Core setting provides daily-needs convenience and lifestyle amenities that help support leasing stability. Grocery and pharmacy access sits in the mid-90s national percentiles, and restaurants and cafes are likewise strong, indicating dense retail and service options within the neighborhood. Childcare is comparatively limited, which may modestly reduce appeal for some family renters, while average school ratings are mid-pack.
Within the Los Angeles-Long Beach-Glendale metro, the neighborhood is competitive among 1,441 neighborhoods by overall rating and demand indicators. Neighborhood occupancy is in the mid-90s and has been broadly stable in recent years, and net operating income per unit benchmarks rank in the upper tier locally, signaling healthy rent and expense dynamics at the neighborhood level rather than the property itself.
Tenure and demand: The neighborhood shows a high concentration of renter-occupied housing units (upper-tier share metro-wide), which points to a deep tenant base and supports ongoing lease-up and renewal prospects for multifamily assets.
Demographics (3-mile radius): Recent years show relatively flat population trends, but forecasts point to population growth and a sizable increase in households alongside smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability for apartments catering to singles and smaller households. Household incomes have been trending higher, which can underpin achievable rents, though operators should still monitor affordability.
Home values and affordability: Elevated home values in this part of Los Angeles indicate a high-cost ownership market. That context tends to reinforce reliance on multifamily housing and can aid retention, but rent-to-income ratios near one-third suggest some affordability pressure, making renewal management and pricing discipline important.
Vintage and competitiveness: Built in 1986, the asset is slightly newer than the neighborhood s average construction year. That positioning is often competitive versus older stock, while still calling for targeted modernization and systems planning to maintain its standing against renovated comparables.
Safety indicators compare favorably in a metro and national context. The neighborhood s crime profile sits in the upper national percentiles for safety, and it performs above the metro median among 1,441 Los Angeles neighborhoods. Short-term trend data also show notable year-over-year improvement in both property and violent offense rates, which is supportive of leasing and resident retention.
As with any Urban Core location, conditions can vary by block and time of day. Investors should pair these neighborhood-level trends with site-level observations and standard operating procedures for access control and lighting.
Proximity to major entertainment and corporate offices supports a strong renter base seeking commute convenience, including Radio Disney, Disney, Charter Communications, Live Nation Entertainment, and Avery Dennison.
- Radio Disney corporate offices (1.7 miles)
- Disney corporate offices (2.5 miles) HQ
- Charter Communications corporate offices (2.6 miles)
- Live Nation Entertainment corporate offices (4.7 miles)
- Avery Dennison corporate offices (6.3 miles) HQ
5315 Harmony Ave offers 28 units averaging roughly 780 square feet in a renter-heavy North Hollywood neighborhood with strong amenity access and stable neighborhood occupancy. Elevated home values in Los Angeles sustain reliance on rentals, and the 3-mile trade area is projected to see population growth and a sizable increase in households alongside smaller household sizes supportive signals for a larger tenant base and steady lease-up. Built in 1986, the asset is slightly newer than the neighborhood average, suggesting competitive positioning versus older stock while still benefiting from targeted renovations.
According to CRE market data from WDSuite, the neighborhood ranks competitively within the Los Angeles metro and performs in higher national percentiles for amenities and income growth, supporting rent fundamentals relative to the broader market. Operators should calibrate pricing and renewals given rent-to-income around one-third and a local employment mix tied to entertainment and services, but overall demand drivers point to resilient occupancy and long-term relevance for well-managed multifamily.
- Renter-heavy neighborhood supports a deep tenant base and renewal potential.
- Amenity-rich Urban Core location with groceries, pharmacies, and dining in high national percentiles.
- 1986 vintage offers competitive positioning versus older stock with value-add modernization upside.
- Demographic outlook (3-mile radius) indicates population growth and more households, supporting leasing and occupancy stability.
- Risks: affordability pressure near one-third rent-to-income and cyclical exposure to entertainment-oriented employment.