Hollywood
Hollywood is one of Los Angeles’ most recognizable urban neighborhoods, combining established residential communities with major entertainment, retail and employment corridors. Its multifamily landscape includes a diverse mix of apartment properties alongside newer residential and mixed-use development. Access to public transit, major thoroughfares, dining, entertainment and neighborhood amenities adds to Hollywood’s appeal for renters. For multifamily owners and investors, the area offers a wide range of opportunities, with property condition, location, tenancy, development activity and proximity to key commercial corridors all playing an important role in individual asset performance and long-term value.
MARKET OVERVIEW
Source: CoStar | Hollywood Multifamily | 2025
Units Delivered
239
Rent Growth (YoY)
-0.2%
Average Cap Rate
5.6%
Vacancy Rate
7.0%
Average Price Per Unit
$296,175
Average Rent
$2,413
Absorption Rate
0.5%
Total Transactions
57
EMPLOYMENT DRIVERS
Hollywood's employment base is closely tied to the entertainment, media and creative industries, with residents benefiting from proximity to major studios, production companies and related businesses throughout the area. The submarket also offers convenient access to major employment centers in Burbank, Glendale, Pasadena and Downtown Los Angeles. Strong transit connectivity and access to key commercial corridors further support Hollywood's appeal to working professionals.
TENANT PROFILE
Hollywood's renter base is heavily influenced by the entertainment and media industries, with strong appeal among young professionals and creative-sector workers. Recent additions of higher-end apartment inventory have also attracted a more affluent renter demographic, while the neighborhood maintains a substantial stock of older, more attainable multifamily housing.