| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 38th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6108 Hazelhurst Pl, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2014-03-06 |
| Transaction Price | $3,550,000 |
| Buyer | THE CHOI FAMILY TRUST |
| Seller | HAZELHURST EQUITIES LLC |
6108 Hazelhurst Pl North Hollywood Multifamily Investment
Neighborhood multifamily occupancy trends near 94% suggest steady leasing conditions, according to WDSuite’s CRE market data, with a high share of renter-occupied housing supporting depth of demand at the neighborhood level.
Situated in North Hollywood’s Urban Core, the property benefits from a renter-driven neighborhood (renter-occupied share is elevated) that typically supports a deeper tenant base and steadier absorption. Neighborhood occupancy is above many markets nationwide, and median contract rents have risen over the past five years, indicating durable pricing power rather than purely cyclical spikes, based on CRE market data from WDSuite.
Daily-life amenities are a relative strength. Cafes, restaurants, groceries, and pharmacies score in high national percentiles, and the area is competitive among Los Angeles-Long Beach-Glendale neighborhoods on overall amenities (amenity rank is in the stronger tier out of 1,441 metro neighborhoods). One tradeoff is limited park acreage locally, which can be mitigated by the broader retail and service mix that supports resident convenience and retention.
For investors assessing tenure dynamics, the neighborhood’s high renter concentration (renter-occupied share) points to a large multifamily customer base. Elevated home values relative to national norms indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can aid lease retention and pricing discipline. School ratings trend below national averages, which is a consideration for family-oriented product but often less critical for studios and smaller formats.
Within a 3-mile radius, demographics show near-term stability with expectations for household growth alongside smaller average household sizes over the next five years. That combination typically expands the renter pool and supports occupancy stability for well-located mid-density assets.
Safety indicators are generally better than national averages for comparable urban neighborhoods, with the area ranking above many peers nationwide. Recent data also points to notable year-over-year declines in both violent and property offenses, according to WDSuite, which is constructive for resident retention and leasing. As with any urban core location, monitoring sub-neighborhood trends over time remains prudent.
Proximity to established media and corporate offices supports commuter demand and resident retention, with a concentration of entertainment and corporate services employers within a short drive: Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Avery Dennison.
- Charter Communications — telecommunications (2.7 miles)
- Radio Disney — media offices (3.2 miles)
- Disney — entertainment studios (3.9 miles) — HQ
- Live Nation Entertainment — entertainment offices (7.4 miles) — HQ
- Avery Dennison — packaging & materials (7.6 miles) — HQ
6108 Hazelhurst Pl combines durable renter demand drivers with clear operational levers. The neighborhood posts strong amenity access and a high share of renter-occupied units, while elevated for-sale home values in the area tend to keep households in the rental market, supporting occupancy stability and pricing discipline. Built in 1976, the asset is newer than much of the surrounding mid-century stock, yet still positioned for value-add through targeted unit and system upgrades that can enhance competitiveness against recently renovated comparables.
Within a 3-mile radius, forecasts indicate growth in households and smaller average household sizes, pointing to a larger tenant base over the medium term. Combined with proximity to major entertainment and corporate employers, these dynamics support demand resilience; based on commercial real estate analysis from WDSuite, the submarket’s fundamentals align with long-run renter reliance on multifamily housing. Key watch items include limited nearby park space and below-average school ratings, which may influence unit mix strategy and amenity programming.
- High renter concentration and elevated ownership costs sustain rental demand and lease retention
- 1976 vintage offers value-add potential via interior and system modernization
- Strong amenity access and proximity to major employers support occupancy stability
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: limited park access and below-average school ratings may affect certain renter segments