| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 69th | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6114 Whitsett Ave, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1977 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6114 Whitsett Ave North Hollywood Multifamily Investment
This 36-unit property built in 1977 operates in a neighborhood ranking in the top quartile nationally for housing fundamentals, with 95.6% occupancy rates and strong rental demand supported by a 60.4% renter-occupied housing base.
Located in North Hollywood's Urban Core, this neighborhood demonstrates solid multifamily fundamentals with housing metrics ranking 130th among 1,441 metro neighborhoods, placing it in the top quartile nationally. The area maintains a 95.6% occupancy rate with 60.4% of housing units being renter-occupied, indicating strong rental demand dynamics that support lease stability and absorption.
Demographics within a 3-mile radius show a population of approximately 267,000 with household incomes averaging $109,377. The area attracts a diverse tenant base with 28.1% of residents aged 18-34 and median household income of $79,842. Forward-looking projections indicate household growth of 36.4% through 2028, expanding the potential renter pool and supporting occupancy fundamentals.
The property's 1977 construction year aligns with the neighborhood average of 1973, suggesting consistent building stock that may present value-add renovation opportunities. Median contract rents of $1,850 have grown 43.4% over the past five years, though investors should monitor the rent-to-income ratio of 0.27, which ranks in the lower percentiles and may indicate affordability pressures requiring careful lease management.
Amenity access supports tenant retention with 4.6 grocery stores per square mile ranking in the 95th percentile nationally, along with strong restaurant density. However, the neighborhood shows limited park and cafe access, which may affect tenant appeal for certain demographics seeking recreational amenities.
Safety metrics show a mixed profile that requires balanced consideration. The neighborhood ranks 257th out of 1,441 metro neighborhoods for overall crime, placing it in the 80th percentile nationally - indicating relatively favorable conditions compared to other areas nationwide.
Recent trends show significant improvement in both property and violent crime rates, with property offenses declining 82.1% year-over-year and violent offenses dropping 97.4%. These substantial reductions suggest improving conditions, though investors should continue monitoring local safety trends as part of ongoing asset management and tenant retention strategies.
The surrounding area benefits from proximity to major entertainment and media employers, providing workforce housing opportunities for professionals in these stable industries.
- Charter Communications — telecommunications (3.7 miles)
- Radio Disney — media & entertainment (4.1 miles)
- Disney — entertainment & media (4.9 miles) — HQ
- Live Nation Entertainment — entertainment services (6.6 miles)
- Activision Blizzard Studios — gaming & technology (7.9 miles)
This North Hollywood property offers compelling fundamentals in a neighborhood demonstrating above-average housing metrics and rental demand stability. According to CRE market data from WDSuite, the area maintains 95.6% occupancy with strong renter demographics, while projected household growth of 36.4% through 2028 supports expanding tenant demand. The 1977 construction vintage presents potential value-add opportunities through strategic renovations and unit improvements.
The location benefits from proximity to major entertainment employers including Disney headquarters and other media companies within reasonable commuting distance. However, investors should carefully monitor rent-to-income ratios and potential affordability pressures when setting renewal rates and evaluating concession strategies.
- Neighborhood housing fundamentals rank in top quartile nationally with 95.6% occupancy
- Strong rental demand supported by 60.4% renter-occupied housing base
- Projected 36.4% household growth through 2028 expanding potential tenant pool
- Value-add potential through renovation of 1977-vintage units
- Risk consideration: Monitor rent-to-income ratios for affordability pressure