| 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 | 1997-02-06 |
| Transaction Price | $1,200,000 |
| Buyer | CARSON THOMAS R |
| Seller | GERBER HARVEY R |
6114 Whitsett Ave North Hollywood Multifamily Investment
This 36-unit property sits in a neighborhood ranking in the top quartile nationally for housing metrics with 95.6% occupancy and strong rental demand fundamentals, according to CRE market data from WDSuite.
This North Hollywood neighborhood demonstrates solid fundamentals for multifamily investors, ranking 130th among 1,441 metro neighborhoods for housing metrics and achieving the 83rd national percentile. The area maintains 95.6% neighborhood-level occupancy with 60.4% of housing units renter-occupied, supporting consistent rental demand. Contract rents average $1,850 for one-bedroom units, placing the neighborhood in the 89th national percentile for rent levels.
Built in 1977, this property aligns with the neighborhood's average construction year of 1973, suggesting potential value-add opportunities through strategic renovations and unit upgrades. Demographics within a 3-mile radius show a stable tenant base with 67.4% of households renting and median household income of $79,822. The area benefits from strong amenity density with 4.60 grocery stores per square mile (95th national percentile) and 16.10 restaurants per square mile (95th national percentile), supporting tenant retention through walkable convenience.
Forward-looking indicators suggest continued rental demand with projected household growth of 36.4% through 2028 and median household income expected to rise to $113,819. The high home value median of $950,826 reinforces rental demand by keeping homeownership costs elevated, sustaining the renter pool for multifamily properties. Rent-to-income ratios at 0.27 indicate manageable affordability for tenants while supporting lease renewal stability.
The neighborhood demonstrates improving safety trends with property crime rates declining 82.1% year-over-year, ranking in the 98th national percentile for crime reduction. Violent crime rates also decreased significantly by 97.4%, placing the area in the 100th national percentile nationally for violent crime improvement. Current property offense rates of 331.7 per 100,000 residents rank 657th among 1,441 metro neighborhoods.
While crime levels remain above metro median, the substantial year-over-year improvements in both property and violent crime metrics indicate positive momentum that can support tenant confidence and retention over time. Investors should monitor these trends as continued improvement could enhance the neighborhood's appeal to quality tenants.
The North Hollywood area benefits from proximity to major entertainment and corporate employers, providing workforce housing opportunities for media and technology professionals within reasonable commuting distance.
- 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)
- Live Nation Entertainment — entertainment services (7.4 miles) — HQ
This 36-unit North Hollywood property presents a value-add opportunity in a neighborhood with strong rental fundamentals and improving safety metrics. Built in 1977 with an average unit size of 814 square feet, the property offers renovation potential to capture higher rents in a market where neighborhood occupancy remains at 95.6%. The area's high renter concentration (60.4% of housing units) and elevated home values ($950,826 median) sustain rental demand by keeping ownership costs prohibitive for many households.
Demographic projections show household growth of 36.4% through 2028 within a 3-mile radius, expanding the potential tenant base while median incomes are forecast to rise 42.6% to $113,819. According to multifamily property research from WDSuite, the neighborhood ranks in the top quartile nationally for housing metrics and maintains NOI per unit averaging $12,406 (89th national percentile). The proximity to major entertainment employers including Disney and Live Nation Entertainment provides workforce housing demand from media professionals.
- Strong occupancy fundamentals with 95.6% neighborhood-level occupancy rates
- Value-add potential through strategic renovations of 1977-vintage units
- Projected 36.4% household growth and 42.6% income growth through 2028
- High home values sustain rental demand by limiting ownership competition
- Risk: Property age requires ongoing capital expenditure planning for competitive positioning