History
Established in 1887 by the Lankershim Ranch Land and Water Company, the urban San Fernando Valley neighborhood of North Hollywood has seen many changes over the years. In North Hollywood’s early years it was called Lankershim and was an agricultural community, rich in produce such as peaches, walnuts, apricots, and pears. It was also many times called “The Home of the Peach.” However, farmers in the area were slowly forced to sign over their land to Los Angeles banks and fruit canning companies to prevent going into foreclosure. In the 1920s, real estate developers started to market North Hollywood to potential home buyers to relocate to the area by changing the city name to North Hollywood in hopes of capitalizing on the glamour of nearby Hollywood. In recent years, the city has added numerous condominium buildings, Metro stations, and the NoHo Arts District. They have turned an old farming community into a metropolis and urban neighborhood.
Real Estate
North Hollywood, CA currently has a population of about 128,000, which most are of Hispanic or Caucasian descent. The North Hollywood zip codes are 91601, 91605, and 91606. The average size of a North Hollywood household is three people. The median household income is about $48,000. The median gross rent of a North Hollywood apartment is $1,700. Roughly 64 percent of North Hollywood homes for sale have at least two or three bedrooms and 72 percent of North Hollywood apartments have at least one or two bedrooms. The average estimated value of a North Hollywood detached single family home is $450,127. The average estimate value of a townhome or attached unit is about $350,000. Due to the constant changes the city has experienced, there has been a steady flow of development averaging about 700 new properties every year for the last 75 years. The main sources of house heating fuel are utility gas (62%) and electricity (27%), but there are some properties that may use solar energy, wood, tanked gas, etc.
Attractions
Residents that live in this urban village can enjoy attractions such as Universal Studios, the Academy of Television Arts & Sciences, and the Pierce Brothers Valhalla Memorial Park. In the NoHo District, people can enjoy the theaters, cafes, boutiques, art galleries, and hip eateries. For those that appreciate more outdoor activities, they can take full advantage of the North Hollywood Recreation Center or the Valley Plaza Recreation Center with their lit indoor and outdoor baseball diamond courts, lit outdoor basketball courts, picnic tables, volleyball courts, American football field, children’s playgrounds, seasonal pool, tennis courts, handball courts and community gymnasiums that can be rented out for special events.
Although this city has seen its fair share of ups and downs, it is constantly reviving itself as a metropolitan area. If you are considering buying or selling a North Hollywood property, home, condo, or townhome, contact Rodeo Realty Real Estate Agent Todd Jones for expert help.
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