| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 38th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6245 N Beck Ave, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1977 |
| Units | 44 |
| Transaction Date | 2007-10-26 |
| Transaction Price | $4,550,000 |
| Buyer | BECK VIEW APARTMENTS LP |
| Seller | SIXFOLD LLC |
6245 N Beck Ave North Hollywood Multifamily Investment
High renter concentration and steady neighborhood occupancy point to durable leasing fundamentals near NoHo employment nodes, according to WDSuite’s CRE market data. This location offers operational stability with room for value-focused upgrades over time.
Situated in North Hollywood’s Urban Core, the property benefits from a dense amenity base: restaurants, cafes, groceries, and pharmacies register in higher national percentiles, supporting daily convenience and renter retention. Neighborhood schools trend below metro norms, so demand skews toward workforce and roommate households rather than family-driven moves.
The neighborhood ranks 495 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, making it competitive among Los Angeles neighborhoods. Occupancy in the neighborhood is approximately 94% and has been broadly stable over time; reference this as a neighborhood metric rather than property-specific performance. Median contract rents sit above national norms, reinforcing revenue potential while requiring attentive lease management as affordability pressure can emerge.
Construction in this area skews older (average 1964). With a 1977 vintage, the asset is newer than much of the surrounding stock, typically offering a more competitive starting point versus mid-century buildings while still warranting modernization of interiors and building systems to drive rent premiums and reduce future capital drag.
Demographic statistics are aggregated within a 3-mile radius: households have inched higher even as average household size trends down, which effectively broadens the tenant base. Projections indicate population growth and a notable increase in households over the next five years, supporting renter pool expansion and occupancy stability. Elevated home values in the area indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power for well-positioned units.
Neighborhood safety indicators are favorable in comparative terms. The area ranks 273 out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods, placing it above the metro median, and it sits in a strong national position (around the upper quartile) compared with neighborhoods nationwide. Recent year-over-year data also shows steep declines in both property and violent offense estimates, according to CRE market data from WDSuite. As always, investors should evaluate property-level measures and insurer requirements as part of underwriting.
Nearby media, entertainment, telecom, and engineering employers underpin renter demand and commute convenience for workforce tenants highlighted below.
- Charter Communications — telecommunications (2.5 miles)
- Radio Disney — media (3.2 miles)
- Disney — entertainment (3.9 miles) — HQ
- Avery Dennison — packaging & materials (7.5 miles) — HQ
- AECOM — engineering & infrastructure (8.9 miles) — HQ
This 44-unit, 1977-vintage asset sits in a renter-heavy pocket of North Hollywood where neighborhood occupancy is stable and amenities are dense. Being newer than much of the local mid-century stock provides a competitive base for a value-add program focused on unit interiors and building systems, with high ownership costs in Los Angeles County reinforcing reliance on multifamily rentals. According to CRE market data from WDSuite, neighborhood rents are above national norms while remaining supported by a deep renter-occupied share, which can aid lease-up and retention when paired with thoughtful pricing.
Within a 3-mile radius, household counts are projected to rise as average household size trends lower, expanding the tenant base even if population growth is gradual. This, combined with proximity to major entertainment and professional employers, supports demand durability; key underwriting considerations include managing affordability pressure and monitoring school quality and limited park access for family-oriented renters.
- Renter-heavy neighborhood and stable occupancy support leasing consistency
- 1977 vintage offers value-add upside versus older surrounding stock
- High-cost ownership market sustains multifamily demand and pricing power
- 3-mile household growth and shrinking household size broaden the renter pool
- Risks: affordability pressure, softer school ratings, and limited park access