| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 70th | Good |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5708 Tujunga Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5708 Tujunga Ave North Hollywood Multifamily Investment
This 20-unit property sits in a renter-concentrated Urban Core neighborhood where median rents rank in the 85th percentile nationally and net operating income per unit places in the top 5% of Los Angeles metro neighborhoods, according to CRE market data from WDSuite.
The property is located in a North Hollywood neighborhood rated A- overall among 1,441 neighborhoods across the Los Angeles-Long Beach-Glendale metro. Approximately 73.8% of housing units in the neighborhood are renter-occupied—ranking in the 98th percentile nationally—which supports deep and sustained multifamily demand. Neighborhood-level occupancy stands at 89.5%, and median contract rent of $1,720 ranks in the 85th percentile nationwide, reflecting strong pricing power relative to other U.S. markets. Within a 3-mile radius, the renter-occupied share is 67.4%, and median household income is $85,639, up 32% over the prior five years. Over the next five years, forecasts project household growth of 36.1% and median income rising to $122,247, expanding the renter pool and supporting lease renewal stability.
Built in 1978, the property is slightly older than the neighborhood average construction year of 1971. This vintage profile may present capital expenditure needs in the near term but also offers value-add and renovation upside for investors focused on repositioning opportunities. The neighborhood's housing metrics rank in the 79th percentile nationally, and its demographics rank in the 70th percentile, indicating a balanced, established resident base with moderate income growth.
Amenity density is notable: the neighborhood records 9.13 grocery stores per square mile (99th percentile nationally), 3.04 cafes per square mile (97th percentile), and 3.04 childcare centers per square mile (96th percentile). These amenities enhance tenant appeal and retention. Average school ratings of 3.5 out of 5 place the neighborhood in the 73rd percentile nationally, a competitive factor for family renters. The neighborhood ranks in the 64th percentile for overall amenities, though park density is absent and pharmacy access is limited, which may narrow appeal for certain tenant profiles.
Median home values in the neighborhood are $969,037, up 48.5% over five years and ranking in the 97th percentile nationally. Elevated ownership costs limit accessibility to homeownership and sustain rental demand, reinforcing reliance on multifamily housing. The rent-to-income ratio of 0.32 ranks in the 5th percentile nationally, signaling affordability pressure that warrants careful lease management and retention strategies. Net operating income per unit averages $15,496 in the neighborhood, ranking in the 95th percentile among metro neighborhoods—a strong indicator of operational performance and investor returns in this submarket.
The neighborhood ranks 489th out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it in the 70th percentile nationally—above the metro median and indicative of relatively stable conditions compared to peer markets. Property offense rates are estimated at 468.5 incidents per 100,000 residents over the past year, ranking in the 38th percentile nationally, while violent offense rates stand at 42.6 per 100,000 residents, ranking in the 46th percentile. Both property and violent offense rates have declined sharply year-over-year—property offenses down 74.8% (96th percentile nationally for improvement) and violent offenses down 95.4% (100th percentile nationally)—reflecting meaningful positive momentum in neighborhood safety trends.
These comparative improvements suggest strengthening conditions that may support tenant retention and leasing velocity. Investors should monitor whether recent declines reflect structural changes or short-term anomalies, and consider local crime trends as part of broader due diligence on tenant demand and insurance underwriting.
The property benefits from proximity to several major corporate employers and headquarters that anchor the regional employment base and support consistent renter demand from the local workforce.
- Radio Disney — media & entertainment (2.6 miles)
- Charter Communications — telecommunications (2.6 miles)
- Disney — media & entertainment (3.3 miles) — HQ
- Live Nation Entertainment — entertainment & live events (5.4 miles)
- Avery Dennison — manufacturing & materials (7.1 miles) — HQ
This 20-unit property offers exposure to a high-performing Urban Core neighborhood where renter concentration, pricing power, and net operating income per unit all rank in the top quartile nationally. The neighborhood's 73.8% renter-occupied share and $1,720 median rent support stable tenant demand, while projected household growth of 36.1% and median income rising to $122,247 over five years underpin long-term occupancy and renewal fundamentals. Proximity to major employers including Disney, Charter Communications, and Live Nation Entertainment reinforces workforce housing appeal and commute convenience. Based on multifamily property research, the neighborhood's NOI per unit of $15,496 ranks in the 95th percentile among Los Angeles metro neighborhoods, reflecting strong operational performance.
The property's 1978 vintage is slightly older than the neighborhood average and may require near-term capital investment, but also presents value-add and renovation upside for repositioning strategies. Elevated home values sustain rental demand by limiting ownership accessibility, though the rent-to-income ratio in the 5th percentile nationally signals affordability pressure that requires attentive lease management and retention planning. Crime trends show significant year-over-year improvement, with property offenses down 74.8% and violent offenses down 95.4%, supporting tenant stability. Investors should weigh strong occupancy and income fundamentals against capital expenditure needs and affordability dynamics.
- Renter concentration of 73.8% ranks in 98th percentile nationally, supporting deep multifamily demand
- Neighborhood NOI per unit of $15,496 ranks in top 5% of metro, indicating strong operational performance
- Forecast household growth of 36.1% and median income rising 42.7% over five years expand tenant base
- Proximity to Disney, Charter Communications, and other major employers supports workforce housing demand
- 1978 vintage and rent-to-income ratio in 5th percentile nationally require capital planning and lease retention focus