| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 27th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8240 Whitsett Ave, North Hollywood, CA, 91605, US |
| Region / Metro | North Hollywood |
| Year of Construction | 1983 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8240 Whitsett Ave North Hollywood Multifamily Investment
Neighborhood occupancy is about 94% and rent burdens sit near the low‑20% range, supporting retention and steady cash flow according to WDSuite’s CRE market data.
Situated in North Hollywood’s Inner Suburb fabric of the Los Angeles-Long Beach-Glendale metro, the property benefits from a renter-driven ecosystem and everyday conveniences. Grocery and pharmacy access score in the upper national brackets, while overall amenities rank above the metro median (625th among 1,441 neighborhoods), signaling practical livability for workforce renters. Cafes and parks are sparse locally, which may modestly limit lifestyle appeal versus trendier submarkets, but day-to-day retail coverage is comparatively strong.
The building’s 1983 vintage is newer than the neighborhood’s average construction year of 1964, providing a relative competitive edge versus older stock. Investors should still plan for selective modernization and systems updates typical of 1980s assets to reinforce leasing velocity and reduce future capital surprises.
At the neighborhood level, occupancy is about 94% (above the national midpoint), a helpful indicator for collections and lease stability. Within a 3‑mile radius, an estimated 53.9% of housing units are renter‑occupied, indicating a deep tenant base to support multifamily absorption. Median contract rents in the radius have risen over the last five years, and current rent-to-income near 23% suggests manageable affordability pressure that can aid renewal rates and revenue durability.
Demographics within 3 miles show modest population contraction in recent years but a small uptick in households, with forecasts pointing to a meaningful increase in household count by 2028 alongside smaller average household sizes. For investors, this pattern implies a gradually expanding renter pool and supports occupancy stability, even as unit mix and amenities should be aligned to smaller households. Elevated home values (94th percentile nationally) and a high value‑to‑income ratio (top national tier) characterize a high‑cost ownership market, which typically sustains reliance on rentals and supports pricing power in stabilized assets, based on CRE market data from WDSuite.
Safety indicators are comparatively favorable in a metro context: the neighborhood’s crime rank sits in the safer cohort (318th out of 1,441 Los Angeles-Long Beach-Glendale neighborhoods), translating to top quartile nationally performance overall. Nationally benchmarked metrics point to stronger property crime improvement trends over the past year, with violent‑crime measures around the national midpoint. For investors, the directional improvement helps leasing narratives and retention, while the mixed violent‑crime standing suggests continued attention to property-level security and lighting.
Proximity to major media and corporate offices underpins renter demand through commute convenience and diversified employment. Nearby anchors include Charter Communications, Radio Disney, The Walt Disney Company, Live Nation Entertainment, and Avery Dennison.
- Charter Communications — media & telecom offices (3.8 miles)
- Radio Disney — entertainment offices (5.9 miles)
- Disney — entertainment studios (6.4 miles) — HQ
- Live Nation Entertainment — entertainment corporate offices (9.0 miles)
- Avery Dennison — materials & packaging corporate offices (9.6 miles) — HQ
8240 Whitsett Ave is a 26‑unit, 1983‑vintage asset with smaller average floor plans that align with a renter base trending toward smaller households within a 3‑mile radius. The submarket shows solid neighborhood occupancy around the mid‑90s and a renter concentration that supports depth of demand. Elevated ownership costs in North Hollywood (high national percentile for home values and value‑to‑income) reinforce reliance on multifamily housing, while rent‑to‑income near the low‑20% range supports renewal probability and pricing resilience, based on CRE market data from WDSuite.
Relative to older local stock, the 1983 vintage offers competitive positioning with scope for value‑add through interior updates and efficiency upgrades to drive rent premiums. Household counts are projected to rise meaningfully by 2028 even as average household size moderates, indicating a larger tenant base for smaller formats—well‑suited to the property’s average unit size. Key risks include below‑median school ratings and thinner lifestyle amenities (parks/cafes), which argue for targeted property amenities and strong management to sustain absorption and retention.
- High-cost ownership market sustains rental demand and supports pricing power
- 1983 vintage newer than area average; value‑add potential via modernization
- Neighborhood occupancy around mid‑90s with manageable rent‑to‑income aiding renewals
- Household growth and smaller household sizes expand the renter pool for smaller units
- Risks: below‑median school ratings and limited parks/cafes require asset‑level amenity focus