| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 49th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6129 Cahuenga Blvd, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1979 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6129 Cahuenga Blvd North Hollywood Multifamily Investment
This 26-unit property built in 1979 operates in a renter-dominant neighborhood with 93rd percentile renter occupancy nationally. Commercial real estate analysis from WDSuite shows neighborhood-level occupancy at 92.5% with strong amenity density supporting tenant retention.
The North Hollywood neighborhood ranks in the top quartile nationally for amenity access, with 7.7 grocery stores per square mile (98th percentile) and extensive restaurant and pharmacy options supporting tenant appeal. Demographics within a 3-mile radius show 66.5% of housing units are renter-occupied, creating a substantial rental market of approximately 59,600 renter-occupied units.
Median household income in the area stands at $83,898 with forecasts projecting growth to $118,666 by 2028, representing a 41.4% increase that supports rental demand stability. The neighborhood's B+ rating reflects balanced fundamentals, though rent-to-income ratios at 0.24 indicate affordability pressures that require careful lease management considerations.
The property's 1979 construction year aligns with the neighborhood average of 1976, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. With population growth projected at 6.4% through 2028 and household formation expected to increase 36.7%, the expanding renter pool should support occupancy stability despite competitive dynamics.
Current neighborhood-level occupancy of 92.5% compares favorably to broader market conditions, while median contract rents of $1,626 have increased 48.5% over five years. However, occupancy has declined 2.5 percentage points recently, suggesting investors should monitor absorption trends and renewal rates closely.
The neighborhood demonstrates improving safety trends with property crime rates declining 90.6% year-over-year, ranking in the 99th percentile nationally for crime reduction. Violent crime rates also dropped 99.2% annually, placing the area in the top percentile for safety improvements among comparable neighborhoods.
Current property offense rates of 164 incidents per 100,000 residents place the neighborhood above the median among Los Angeles metro neighborhoods, ranking 395th of 1,441 total neighborhoods. While crime levels remain moderate compared to the broader region, the significant downward trend in both property and violent crime supports the area's investment fundamentals for multifamily properties.
The North Hollywood submarket benefits from proximity to major entertainment and corporate employers, supporting workforce housing demand within commuting distance of significant job centers.
- Charter Communications — telecommunications (1.6 miles)
- Radio Disney — media & entertainment (2.3 miles)
- Disney — entertainment & media (2.7 miles) — HQ
- Live Nation Entertainment — entertainment services (5.7 miles)
- Avery Dennison — manufacturing & materials (6.3 miles) — HQ
This 26-unit North Hollywood property offers exposure to a stable rental market with 66.5% renter occupancy and strong demographic fundamentals. Built in 1979, the property presents potential value-add opportunities through strategic renovations while benefiting from neighborhood-level occupancy of 92.5%. Population growth of 6.4% and household formation increasing 36.7% through 2028 should expand the tenant base, according to CRE market data from WDSuite.
The location provides workforce housing access to major employers including Disney headquarters and Charter Communications within commuting distance. While rent-to-income ratios indicate affordability considerations, the 48.5% rent growth over five years demonstrates pricing power. However, recent occupancy declines of 2.5 percentage points warrant monitoring of market absorption and renewal strategies.
- Strong renter-dominated market with 93rd percentile national occupancy levels
- Value-add potential through strategic renovations of 1979-vintage property
- Projected household growth of 36.7% supports expanding tenant demand
- Proximity to major entertainment and corporate employment centers
- Risk consideration: Recent occupancy decline requires active lease management