| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 69th | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6422 Whitsett Ave, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 1994-09-12 |
| Transaction Price | $948,786 |
| Buyer | SUN LIFE INSURANCE COMPANY OF AMERICA |
| Seller | SUMAX INVESTMENT PARTNERSHIP |
6422 Whitsett Ave North Hollywood Multifamily Investment
This 20-unit property built in 1986 benefits from neighborhood-level occupancy at 95.6% and strong rental demand in an area ranking in the 94th percentile nationally for renter-occupied housing, according to CRE market data from WDSuite.
The North Hollywood neighborhood ranks in the top quartile among 1,491 metro neighborhoods for housing fundamentals, with 60.4% of housing units renter-occupied compared to typical ownership-heavy markets. Built in 1986, this property aligns with the neighborhood's average construction year of 1973, positioning it for potential value-add opportunities while avoiding the capital expenditure needs of significantly older stock.
Demographics within a 3-mile radius show 268,500 residents with median household income of $78,228, supporting rental demand at current contract rent levels of $1,664. The area maintains 95.6% neighborhood-level occupancy, ranking above metro median performance. Forecasted population growth of 3.3% through 2028 and projected household formation increases of 36.9% indicate expanding renter pools entering the market.
Home values averaging $950,826 with a value-to-income ratio ranking in the 99th percentile nationally reinforce rental demand, as elevated ownership costs keep households in the rental market. The neighborhood offers strong amenity density with 4.6 grocery stores per square mile ranking in the 95th percentile nationally, supporting tenant retention through convenience and walkability.
The neighborhood demonstrates improving safety trends with property crime rates declining 82.1% year-over-year, ranking in the 98th percentile nationally for crime reduction. Violent crime rates also decreased 97.4% annually, placing the area in the top tier nationwide for safety improvements.
Current crime metrics position the neighborhood competitively among Los Angeles metro areas, with property offense rates ranking 657th among 1,491 neighborhoods and violent crime rates ranking 182nd, indicating above-average safety performance relative to the broader metropolitan area.
Major corporate employers within commuting distance support workforce housing demand, including entertainment industry headquarters and established corporate offices.
- Charter Communications — telecommunications (3.6 miles)
- Radio Disney — entertainment media (4.3 miles)
- Disney — entertainment conglomerate (5.1 miles) — HQ
- Live Nation Entertainment — live entertainment (6.9 miles)
- Activision Blizzard Studios — gaming & entertainment (8.3 miles)
This 20-unit North Hollywood property offers stable cash flow fundamentals with neighborhood-level occupancy at 95.6% and net operating income averaging $12,406 per unit, ranking in the 89th percentile nationally. The 1986 construction year presents value-add renovation opportunities while avoiding the extensive capital needs of significantly older properties. Demographics within a 3-mile radius show projected household growth of 36.9% through 2028, expanding the tenant base and supporting occupancy stability.
Commercial real estate analysis from WDSuite indicates strong rental market fundamentals, with 60.4% of neighborhood housing units renter-occupied and median home values at $950,826 reinforcing rental demand through elevated ownership costs. The location benefits from proximity to major entertainment industry employers including Disney headquarters and Charter Communications, providing workforce housing appeal for stable tenant retention.
- High neighborhood occupancy at 95.6% indicates stable rental demand
- Above-average NOI per unit performance ranking in 89th percentile nationally
- Projected 36.9% household growth through 2028 supports tenant base expansion
- 1986 vintage offers value-add renovation upside potential
- Risk consideration: Rent-to-income ratio at 10th percentile may limit pricing power