| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 49th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6711 Cleon Ave, North Hollywood, CA, 91606, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1986 |
| Units | 38 |
| Transaction Date | 1998-05-06 |
| Transaction Price | $420,000 |
| Buyer | SATICOY ENTERPRISES LLC |
| Seller | GUYER PAUL M CO TR GUYER FAMILY TRUST |
6711 Cleon Ave North Hollywood Multifamily Investment
Positioned in an Urban Core pocket with a high share of renter-occupied housing units and strong amenity access, the neighborhood indicates durable renter demand according to WDSuite’s CRE market data.
The property’s North Hollywood location benefits from amenity density that is competitive among the 1,441 Los Angeles–Long Beach–Glendale metro neighborhoods, with cafes, groceries, and pharmacies scoring well above national norms. This supports day-to-day convenience for residents and helps leasing and retention for workforce and creative-sector renters.
With the neighborhood’s construction year profile skewing older than the subject’s 1986 vintage (metro-area neighborhood average is earlier), the asset is relatively newer than much of the surrounding stock. That positioning can offer an edge on finishes and systems versus 1970s-era comparables, while still leaving room for targeted modernization to enhance rents and reduce ongoing capital needs.
Neighborhood occupancy is in a healthy range and sits modestly above national medians, and the share of renter-occupied housing units is elevated, signaling depth in the tenant base. Within a 3-mile radius, households have grown in recent years and are projected to increase further alongside slightly smaller average household sizes, which typically supports a larger renter pool and steadier absorption of multifamily units.
Ownership costs in this area are high relative to incomes, and home values are elevated on a national basis. For investors, a high-cost ownership market generally sustains reliance on rental housing and can support lease retention and pricing power when positioned correctly, particularly for well-located mid-size units like those typical in North Hollywood.
Safety indicators compare favorably in a national context, with the neighborhood landing in the higher percentiles nationwide for lower violent and property offenses. Recent year-over-year trends also point to meaningful declines in both violent and property offense rates, based on WDSuite’s data.
At the metro level, safety conditions can vary block to block within Los Angeles. For underwriting, it is prudent to pair these improving and above-national signals with on-the-ground observations and standard security measures to support resident comfort and retention.
Proximity to media, telecom, entertainment, and advanced manufacturing employers underpins renter demand and commute convenience for a diverse workforce, including roles at Charter Communications, Radio Disney, Disney, Live Nation Entertainment, and Avery Dennison.
- Charter Communications — telecom (1.4 miles)
- Radio Disney — media (3.1 miles)
- Disney — entertainment (3.5 miles) — HQ
- Live Nation Entertainment — entertainment (6.5 miles)
- Avery Dennison — manufacturing & materials (6.9 miles) — HQ
6711 Cleon Ave offers a relatively newer 1986 vintage compared with many nearby assets, pairing competitive positioning with value-add potential through targeted updates. The neighborhood shows strong amenity access and an elevated renter-occupied housing share, while a high-cost ownership landscape supports sustained reliance on multifamily rentals. According to CRE market data from WDSuite, neighborhood occupancy is steady, and recent household growth within a 3-mile radius points to a larger tenant base and continued leasing depth.
Forward-looking demographics in the 3-mile area indicate increases in households alongside slightly smaller household sizes, which typically supports absorption and occupancy stability. Investors should also plan for prudent capital reserves given the asset’s age and monitor submarket safety and operating trends as part of standard risk management.
- 1986 vintage is competitive versus older local stock, with room for selective upgrades
- Elevated renter-occupied housing share and amenity density support tenant demand
- High-cost ownership market reinforces reliance on rentals and can aid retention
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: aging systems typical of 1980s assets and localized safety variability within the metro