| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 84th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4940 Paso Robles Ave, Encino, CA, 91316, US |
| Region / Metro | Encino |
| Year of Construction | 2013 |
| Units | 52 |
| Transaction Date | 2017-05-24 |
| Transaction Price | $27,500,000 |
| Buyer | ALPHABET MF PARK ENCINO LLC |
| Seller | IMT CAPITAL II BALBOA LLC |
4940 Paso Robles Ave, Encino — 2013 Multifamily
Positioned in an inner-suburb pocket where neighborhood occupancy trends sit above the national median, this 2013 asset benefits from steady renter demand and elevated area rents, according to WDSuite’s CRE market data.
Encino’s inner-suburb setting supports stable multifamily performance. Neighborhood occupancy is in the upper half nationally, and net operating income per unit ranks in a strong national tier, suggesting durable rent rolls relative to broader U.S. benchmarks (based on CRE market data from WDSuite). Median contract rents in the neighborhood are elevated versus national norms, reinforcing revenue potential when paired with above-median household incomes.
Daily-life convenience is a differentiator: the neighborhood indexes very high nationally for cafes, restaurants, and pharmacies, with grocery access competitive, which helps leasing and retention for residents who prioritize short trips for essentials. Park space inside the neighborhood footprint is limited, so investors may want to emphasize on-site amenities or nearby recreational alternatives in marketing.
The property’s 2013 construction is newer than the neighborhood’s average vintage from the 1970s. That positioning can provide an edge over older stock on unit finishes and building systems, while still leaving room for targeted modernization to support rent growth and leasing velocity.
Tenure and demographics point to depth of demand. The neighborhood’s renter-occupied share is above national norms, indicating a sizable tenant base. Within a 3-mile radius, households have grown even as average household size has trended smaller, which typically expands the renter pool and supports occupancy stability. High home values in this part of Los Angeles create a high-cost ownership market, which tends to sustain reliance on multifamily rentals and can aid lease retention.
Neighborhood safety indicators compare favorably to national averages overall, with violent-offense measures in a stronger national tier and property-offense levels closer to midrange. Recent year-over-year trends show meaningful declines in both violent and property offense rates, which is a constructive signal for renter sentiment and leasing.
At the metro scale (Los Angeles–Long Beach–Glendale, 1,441 neighborhoods), the area reads as competitive rather than top-tier on safety, but the national percentiles indicate it performs above the U.S. average. As always, investors should underwrite in-place security practices and review current local data during diligence.
Proximity to diversified corporate employers underpins weekday traffic and supports retention for workforce and professional renters. Notable nearby employers include Thermo Fisher Scientific, Farmers Insurance, Occidental Petroleum, Live Nation Entertainment, and AECOM.
- Thermo Fisher Scientific — life sciences (5.4 miles)
- Farmers Insurance Exchange — insurance (6.0 miles) — HQ
- Occidental Petroleum — energy (7.8 miles) — HQ
- Live Nation Entertainment — entertainment (8.4 miles) — HQ
- AECOM — engineering & infrastructure (8.6 miles) — HQ
This 52-unit asset combines newer construction (2013) with a neighborhood profile that skews toward high household incomes, elevated rents, and above-median occupancy, supporting steady collections and pricing power relative to national benchmarks. High local home values point to a high-cost ownership market, which typically sustains multifamily demand and aids lease retention. According to CRE market data from WDSuite, the surrounding neighborhood also scores strongly on amenities, reinforcing day-to-day convenience that helps reduce turnover.
Forward-looking fundamentals are constructive: within a 3-mile radius, households are expanding and average household size is trending smaller, which generally enlarges the renter base and supports occupancy durability. The asset’s newer vintage versus the area’s 1970s average suggests competitive positioning against older stock, with optionality for targeted value-add to capture additional rent and improve NOI.
- Newer 2013 construction relative to local vintage offers competitive positioning and selective value-add upside.
- Elevated neighborhood rents and above-median occupancy support income stability versus national norms.
- High-cost ownership market reinforces renter reliance, aiding lease retention and pricing power.
- 3-mile household growth and smaller household sizes expand the tenant base and support absorption.
- Risks: limited neighborhood park space, cyclical exposure to Los Angeles corporate employment, and safety performance that is competitive but not top-tier within the metro.