| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 38th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6241 Beck Ave, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1989 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6241 Beck Ave North Hollywood Multifamily Investment
This 30-unit property benefits from strong neighborhood-level occupancy at 94% and a 67.6% renter-occupied housing base. According to CRE market data from WDSuite, the area demonstrates robust rental demand fundamentals in the Los Angeles metro.
Located in North Hollywood's Urban Core, this neighborhood ranks in the top quartile nationally for amenity density with a 78th percentile rating among all U.S. neighborhoods. The area features 2.66 cafes, grocery stores, pharmacies, and childcare facilities per square mile, supporting tenant retention through walkable convenience. Restaurant density reaches 17.31 per square mile, ranking 359th among 1,441 metro neighborhoods.
The neighborhood maintains a 94% occupancy rate with 67.6% of housing units renter-occupied, ranking 215th among metro neighborhoods and reaching the 96th percentile nationally for rental tenure. Median contract rents of $1,588 have grown 33.6% over five years, while demographic data within a 3-mile radius shows median household income of $80,083 with projected growth to $113,292 by 2028.
Built in 1989, this property aligns with the neighborhood's average construction year of 1964, potentially offering value-add renovation opportunities relative to older surrounding stock. The area's rent-to-income ratio of 0.29 ranks in the 7th percentile nationally, indicating affordability pressures that may impact lease renewals and require careful rent management strategies.
Home values averaging $805,674 with 47.8% five-year appreciation reinforce rental demand as elevated ownership costs keep households in the multifamily market. Forecasted population growth of 3.7% and household formation increasing 35.9% through 2028 support expanding renter pools, though investors should monitor competitive supply additions in this high-demand submarket.
Crime metrics show mixed signals for this North Hollywood neighborhood. Property offense rates of 113.39 per 100,000 residents rank 278th among 1,441 metro neighborhoods, placing the area near metro median for property crime. However, recent trends show substantial improvement with property offense rates declining 85.8% year-over-year, ranking 86th among metro neighborhoods and reaching the 99th percentile nationally for crime reduction.
Violent crime rates of 25.69 per 100,000 residents rank 561st among metro neighborhoods, indicating above-average performance relative to the Los Angeles metro. Year-over-year violent crime has decreased 90.6%, ranking 282nd among metro neighborhoods and achieving the 99th percentile nationally for violent crime reduction. While absolute crime levels remain moderate, the strong downward trend in both property and violent offenses suggests improving neighborhood conditions that may support tenant retention and property values.
The North Hollywood area benefits from proximity to major entertainment and corporate employers, supporting workforce housing demand from media professionals and corporate staff within reasonable commuting distance.
- Charter Communications — telecommunications (2.5 miles)
- Radio Disney — media and entertainment (3.2 miles)
- Disney — entertainment and media (3.9 miles) — HQ
- Live Nation Entertainment — entertainment services (6.2 miles)
- Avery Dennison — manufacturing and materials (7.5 miles) — HQ
This 30-unit North Hollywood property offers exposure to a resilient rental market with 94% neighborhood occupancy and strong demographic growth projections. Built in 1989, the asset presents potential value-add opportunities relative to the area's older building stock while benefiting from proximity to major entertainment employers including Disney headquarters. Commercial real estate analysis shows the submarket's 67.6% renter tenure rate ranks in the 96th percentile nationally, indicating deep rental demand fundamentals.
Demographic data within a 3-mile radius projects household growth of 35.9% through 2028, supporting expanding tenant pools and lease-up velocity. However, the area's rent-to-income ratio of 0.29 ranks in the 7th percentile nationally, requiring careful rent management to balance pricing power with retention. High home values averaging $805,674 reinforce rental demand as ownership costs keep households in the multifamily market.
- Strong occupancy fundamentals with 94% neighborhood rate and 96th percentile national ranking for renter tenure
- Value-add potential from 1989 construction relative to 1964 neighborhood average
- Projected 35.9% household growth supporting expanding renter demand through 2028
- Proximity to major entertainment employers including Disney headquarters (3.9 miles)
- Risk consideration: Low rent-to-income ratio requires careful lease management and renewal strategies