| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 39th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7140 Bellaire Ave, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1990 |
| Units | 30 |
| Transaction Date | 2014-06-03 |
| Transaction Price | $6,475,000 |
| Buyer | CARVAJAL FAMILY TRUST |
| Seller | GINGER INVESTORS LLC |
7140 Bellaire Ave North Hollywood Multifamily Investment
This 30-unit property benefits from strong neighborhood-level occupancy at 96.1% and a 97th percentile rental share, indicating sustained tenant demand in Los Angeles's competitive multifamily market according to WDSuite's CRE market data.
The North Hollywood neighborhood ranks 455th among 1,441 Los Angeles metro neighborhoods with a B+ rating, positioning it competitively within the broader market. Neighborhood-level occupancy trends show 96.1% occupancy with a 97th percentile rental share nationally, reflecting strong tenant retention and limited homeownership competition. The area's 1990 construction year aligns closely with the neighborhood average of 1966, minimizing obsolescence risk while offering potential value-add opportunities through targeted renovations.
Demographics within a 3-mile radius show a stable renter base with 62.5% of housing units occupied by renters. Household projections indicate a 34.6% increase in total households by 2028, expanding the potential tenant pool and supporting occupancy stability. Median household income of $70,975 provides adequate rent-to-income ratios, though investors should monitor affordability as contract rents have increased 32.6% over five years.
The neighborhood offers above-average amenity density, ranking in the 80th percentile nationally with strong access to grocery stores (6.85 per square mile) and restaurants (18.84 per square mile). These lifestyle amenities support tenant appeal and retention, particularly important in Los Angeles's competitive rental market where location convenience drives leasing velocity.
The neighborhood demonstrates improving safety trends with property crime rates declining 86.4% year-over-year, ranking in the 99th percentile nationally for crime reduction. Overall crime performance places the area at 361st among 1,441 metro neighborhoods, representing above-average safety conditions that support tenant retention and property values.
Violent crime rates also show positive momentum with an 80.7% year-over-year decrease, though absolute levels remain moderate at 741st among metro neighborhoods. The substantial improvement in both property and violent crime metrics indicates strengthening neighborhood conditions that can enhance long-term investment stability.
The North Hollywood location provides access to major entertainment and corporate employers within the greater Los Angeles market, supporting workforce housing demand from media, telecommunications, and professional services sectors.
- Charter Communications — telecommunications (3.7 miles)
- Radio Disney — media & entertainment (5.1 miles)
- Disney — entertainment & media (5.7 miles) — HQ
- Live Nation Entertainment — entertainment services (7.8 miles) — HQ
- Activision Blizzard Studios — gaming & technology (9.2 miles)
This 30-unit North Hollywood property offers stable cash flow fundamentals with neighborhood-level occupancy at 96.1% and strong rental market penetration at 69.5%. The 1990 construction year positions the asset for strategic capital improvements while avoiding major structural obsolescence. Demographics within a 3-mile radius project 34.6% household growth through 2028, expanding the renter pool and supporting long-term absorption.
The investment case strengthens through improving safety metrics, with property crime declining 86.4% year-over-year according to multifamily property research. Net operating income averages $8,589 per unit in the neighborhood, ranking in the 71st percentile nationally and reflecting solid revenue potential in Los Angeles's constrained supply environment.
- Strong occupancy fundamentals with 96.1% neighborhood-level occupancy and 97th percentile rental share
- Projected 34.6% household growth within 3-mile radius supports expanding tenant demand
- Value-add potential through 1990 vintage allowing targeted renovations and rent optimization
- Proximity to major entertainment employers including Disney and Live Nation headquarters
- Risk consideration: High home values may increase ownership competition as affordability improves