| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 73rd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5407 Colfax Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 108 |
| Transaction Date | 1997-05-06 |
| Transaction Price | $4,200,000 |
| Buyer | FEDERAL HOME LOAN MORTGAGE CORPORATION |
| Seller | LINDGREN HAZEL E |
5407 Colfax Ave North Hollywood Multifamily Investment
Investor positioning here centers on deep renter demand and resilient occupancy supported by a high renter-occupied housing share and strong daily amenities, according to WDSuite’s CRE market data.
This Urban Core neighborhood in North Hollywood ranks 111 out of 1,441 across the Los Angeles metro, placing it in the top quartile among metro neighborhoods for overall fundamentals. Daily needs are well-covered — grocery access and food-and-beverage density sit in the upper national percentiles, supporting leasing convenience for residents and reinforcing renter appeal. Park access is limited within the neighborhood itself, which may require relying on nearby districts for green space.
Multifamily performance indicators are attractive at the neighborhood level: occupancy is competitive among Los Angeles neighborhoods (96.4% and above the 80th national percentile), and neighborhood-level NOI per unit sits in the top quartile nationally — signaling historically strong revenue potential for well-run assets in this area. The neighborhood’s renter concentration is high (ranked 113 of 1,441), indicating a deep tenant base that supports demand stability for larger properties.
The property’s 1986 vintage is newer than the neighborhood’s average construction year (1978). That timing can provide a competitive edge versus older stock, while still warranting targeted capital planning around aging systems and common-area modernization to sustain positioning against newer deliveries.
Within a 3-mile radius, demographic data show a modest contraction in population over the last five years but a projected increase in households and smaller average household sizes through 2028. For investors, a rising household count paired with smaller households translates to a broader renter pool and supports steady absorption of multifamily units. Elevated home values at the neighborhood level (upper national percentiles) further reinforce reliance on rental housing, which can aid retention and pricing power for competitive, well-managed assets.
Schools in the neighborhood are roughly around the national midpoint, which aligns with a primarily renter-driven area and workforce-oriented demand. Median contract rents trend in the higher national percentiles, so operators should monitor rent-to-income levels — currently favorable by national comparison — to manage renewal strategy and reduce turnover risk.
Safety metrics here compare favorably in a national context and are competitive within Los Angeles. The neighborhood’s crime ranking is 306 out of 1,441 metro neighborhoods, which places it in the top quartile among Los Angeles peers, and national percentiles indicate above-average safety relative to many neighborhoods nationwide.
Recent trends are constructive: both property and violent offense rates are near the national midpoint today, but year-over-year changes track among the strongest improvements nationally, according to WDSuite’s data. While this directional improvement is positive for resident retention and leasing, investors should continue monitoring submarket-level trends as urban corridors can exhibit variability over time.
Proximity to major media and communications employers supports a steady professional renter base and commute convenience, notably Radio Disney, Charter Communications, Disney, and Live Nation Entertainment.
- Radio Disney — corporate offices (2.9 miles)
- Charter Communications — corporate offices (3.3 miles)
- Disney — corporate offices (3.7 miles) — HQ
- Live Nation Entertainment — corporate offices (5.3 miles)
- Live Nation Entertainment — corporate offices (6.6 miles) — HQ
5407 Colfax Ave offers investors scale (108 units) in a renter-heavy pocket of North Hollywood where neighborhood-level occupancy trends are competitive within the Los Angeles metro and nationally strong. Elevated neighborhood home values and a high share of renter-occupied housing units point to durable multifamily demand, while dense daily amenities support retention and lease-up consistency. According to CRE market data from WDSuite, the area’s neighborhood NOI per unit ranks in the top quartile nationally, aligning with historically healthy revenue performance for well-operated assets.
Built in 1986, the asset is newer than the neighborhood’s average vintage. That positioning can remain competitive versus older stock, yet investors should plan for selective system upgrades and common-area refreshes to protect pricing power. Within a 3-mile radius, projections indicate growth in households alongside smaller average household sizes by 2028 — a setup that expands the renter pool and supports occupancy stability for professionally managed properties.
- Competitive neighborhood occupancy and top-quartile NOI per unit support durable cash flow potential.
- High renter-occupied share and elevated ownership costs deepen the tenant base and aid lease retention.
- 1986 vintage provides relative competitiveness versus older stock with targeted value-add through modernization.
- 3-mile projections show household growth and smaller sizes, expanding demand for multifamily units.
- Risks: limited park access, average school ratings, and urban safety variability warrant ongoing monitoring and proactive asset management.