| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 65th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5821 Tujunga Ave, North Hollywood, CA, 91601, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 69 |
| Transaction Date | 2000-10-20 |
| Transaction Price | $3,950,000 |
| Buyer | NOHO ARTS APTS LP |
| Seller | FIFTY EIGHT ELEVEN |
5821 Tujunga Ave, North Hollywood Multifamily Investment
Neighborhood renter concentration and stable occupancy support consistent tenant demand in this Los Angeles submarket, according to WDSuite’s CRE market data. These figures reflect neighborhood conditions rather than the property itself and point to durable leasing fundamentals in an Urban Core location.
Rated A- and ranked 331 out of 1,441 Los Angeles metro neighborhoods, the area is top quartile within the metro, signaling competitive fundamentals for multifamily investors. The submarket skews Urban Core with a strong renter-occupied share at the neighborhood level, which deepens the tenant base and supports leasing velocity and retention.
Amenity access trends are favorable: restaurants trend in the top national percentiles and grocery and pharmacies are also strong, while childcare density is among the highest nationwide. By contrast, park and cafe density is limited locally. For investors, this mix points to day-to-day convenience and service access that can aid retention, even if green space and third-place options are thinner nearby.
Neighborhood occupancy is above many U.S. areas and has edged higher in recent years, and the local renter-occupied share (measured as a portion of housing units) is high compared with national norms. Together, these dynamics suggest depth of demand and potential occupancy stability at the neighborhood level rather than at the property. Elevated home values relative to incomes locally indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power; meanwhile, rent-to-income levels are comparatively manageable, which can moderate affordability pressure in lease management.
Construction across the neighborhood skews earlier vintage on average (1970s), while this property was built in 1986. The slightly newer vintage can be competitively positioned versus older stock, though investors should plan for modernization of aging systems and value-add upgrades where returns pencil.
Within a 3-mile radius, household counts have inched higher despite modest population softness, indicating smaller household sizes and a gradual expansion of the renter pool. Forward-looking estimates point to additional population and household growth over the next five years, which would expand the local tenant base and support occupancy and rent trends if realized. Income growth in the area outpaced prior periods, reinforcing capacity to support market rents, based on commercial real estate analysis from WDSuite.
Safety indicators compare favorably versus many neighborhoods nationwide. Overall crime metrics sit in stronger national percentiles, with violent offense measures trending better than average and property offense levels around the national midpoint. Recent year-over-year estimates show notable improvements in both violent and property offense rates, suggesting a positive directional trend rather than a guarantee.
These are neighborhood-level comparisons across the Los Angeles metro and nationwide; conditions can vary by block and over time. Investors should corroborate current readings with on-the-ground diligence and consider how safety perceptions influence leasing, retention, and operating strategies.
The immediate area benefits from a diverse employment base in telecommunications, media, entertainment, live events, and advanced materials, supporting commuter convenience and renter demand at workforce and professional income levels. The employers below are representative of nearby demand drivers.
- Charter Communications — telecommunications (2.5 miles)
- Radio Disney — media (2.7 miles)
- Disney — entertainment studios (3.4 miles) — HQ
- Live Nation Entertainment — live events (5.6 miles)
- Avery Dennison — materials and labeling (7.2 miles) — HQ
5821 Tujunga Ave sits in a metro-top-quartile Los Angeles neighborhood with high renter concentration and occupancy that has trended upward at the neighborhood level, supporting a broad tenant base and potential leasing stability. Elevated ownership costs in the area reinforce reliance on multifamily housing, while neighborhood rent-to-income levels suggest manageable affordability pressure for lease management. Built in 1986, the asset is somewhat newer than the area’s average vintage, offering a competitive edge versus older stock while still presenting opportunities for targeted modernization and value-add.
Within a 3-mile radius, households have grown despite modest population softness, and projections indicate population growth and more households over the next five years, which would expand the renter pool and support occupancy. According to CRE market data from WDSuite, amenity access is strong for restaurants, groceries, pharmacies, and childcare, which can aid retention, although limited park and cafe density and below-average school ratings warrant underwriting caution.
- Strong neighborhood renter-occupied share and stable occupancy support a deep tenant base
- High-cost ownership market sustains rental demand and potential pricing power
- 1986 vintage offers competitive positioning with value-add and system upgrades as needed
- 3-mile forecasts point to more households and an expanding renter pool, supporting occupancy
- Risks: limited park/cafe density and lower average school ratings; underwrite for retention and marketing strategy