| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 49th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6705 Riverton Ave, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1979 |
| Units | 74 |
| Transaction Date | 1995-11-28 |
| Transaction Price | $1,950,000 |
| Buyer | COLONY FBP PARTNERS LP |
| Seller | JOGANI SHASHIKANT JAYANTILAL |
6705 Riverton Ave North Hollywood Multifamily Investment
In a high-cost ownership pocket of Los Angeles, renter demand is reinforced by a large renter-occupied housing base and steady neighborhood occupancy, according to WDSuite’s commercial real estate analysis. Investors should view this as a renter-first location where pricing power depends on managing affordability and retention.
The property sits in an Urban Core neighborhood of North Hollywood rated B+ and ranked 475 of 1,441 Los Angeles metro neighborhoods—competitive among Los Angeles-Long Beach-Glendale submarkets based on WDSuite’s CRE market data. Local occupancy for the neighborhood is in the low-90s and above the national median, supporting baseline stability for multifamily operations.
Daily-life amenities are a clear strength: grocery and pharmacy access index in the high national percentiles (both near the top decile), with strong restaurant and cafe density as well. While neighborhood park density is limited, the broader amenity mix points to convenience that can aid leasing and retention.
Ownership costs in the neighborhood are elevated (home values benchmark in the low-90s national percentile range), which tends to sustain renter reliance on multifamily housing. Neighborhood rent-to-income reads as moderate for Los Angeles, suggesting manageable affordability pressure that can support renewal rates when paired with measured rent strategies.
Tenure dynamics favor multifamily: the neighborhood’s share of renter-occupied housing units is high (above the 90th percentile nationally), implying a deep tenant base and consistent demand for well-located workforce and market-rate product.
Demographics are aggregated within a 3-mile radius and point to a stable-to-expanding renter pool: households have grown recently and are projected to rise further through 2028, even as average household size trends lower. This combination typically supports occupancy stability and a steady flow of prospective renters.
Vintage context: built in 1979 versus a neighborhood average near 1976. The asset’s slightly newer vintage than the surrounding stock can be competitive versus older peers, though investors should plan for aging-system upgrades and targeted renovations to bolster rent positioning.
Safety indicators compare favorably to national norms. WDSuite data places the neighborhood in the upper percentiles nationally for overall safety (around the upper teens from the top), with violent offense metrics in the high-80s national percentile—Top quartile nationally. Property offense levels trend better than the national middle, and recent year-over-year readings show notable declines in both violent and property offenses. As always, conditions vary by block and over time; investors should confirm trends with current, on-the-ground diligence.
Proximity to major media and corporate employers underpins renter demand via short commutes and diverse white-collar job bases. Key nearby employers include Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Avery Dennison.
- Charter Communications — telecommunications (1.3 miles)
- Radio Disney — media offices (3.1 miles)
- Disney — entertainment HQ (3.4 miles) — HQ
- Live Nation Entertainment — live entertainment offices (6.4 miles)
- Avery Dennison — materials & labeling (6.7 miles) — HQ
6705 Riverton Ave combines Urban Core location advantages with a renter-first housing base and steady neighborhood occupancy. Elevated ownership costs in the immediate area reinforce reliance on rental housing, while strong amenity density (grocery, pharmacies, cafes, restaurants) supports day-to-day livability that can translate into leasing velocity and renewal depth. According to CRE market data from WDSuite, the neighborhood’s renter concentration sits well above national norms and home values benchmark high nationally—conditions that typically sustain demand for professionally managed multifamily.
The 1979 vintage is slightly newer than the neighborhood average, offering relative competitiveness versus older stock while still presenting classic value-add angles—mechanical modernization, common-area refresh, and in-unit upgrades to capture rent premiums without overshooting local affordability. Demographics within a 3-mile radius point to household growth and a gradually smaller average household size through 2028, a combination that supports a larger tenant base and occupancy stability over time.
- Renter-first location with high renter-occupied share supporting demand depth
- Amenity-rich Urban Core setting aiding leasing and retention
- 1979 vintage with clear value-add pathways to enhance rent positioning
- Household growth within 3 miles and high-cost ownership market bolster multifamily demand
- Risks: limited park access and affordability pressure require disciplined rent and capex planning