| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15449 Nordhoff St, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | 1997-04-11 |
| Transaction Price | $454,000 |
| Buyer | SEASIDE CAPITAL CORP |
| Seller | LIN CHIH PING |
15449 Nordhoff St: Workforce Multifamily in North Hills
Neighborhood-level occupancy is solid and renter demand is deep, according to WDSuite’s CRE market data, supporting steady leasing conditions for a 20-unit asset. Elevated ownership costs in the area further sustain reliance on rentals, though rent-to-income levels warrant disciplined management.
This North Hills Urban Core location sits in a high-renter context: the neighborhood shows a very high share of renter-occupied housing units, which supports a broad tenant base and helps underpin occupancy stability at the neighborhood level. The neighborhood’s occupancy rate ranks in the upper tier nationally, signaling durable demand, while the overall neighborhood rating is C- (ranked 1,223 among 1,441 Los Angeles metro neighborhoods), indicating competitive but not top-quartile positioning within the metro.
Daily needs are relatively convenient. Grocery access is strong compared with most neighborhoods nationwide, and restaurants are present at moderate levels. By contrast, parks, pharmacies, and cafes are limited locally, so resident lifestyle appeal leans more utilitarian than recreational. Average school ratings in the neighborhood are low compared with national peers, which investors should consider for family-oriented leasing strategies.
For the asset specifically, the 1990 construction is newer than the neighborhood’s average vintage (late 1970s), which can enhance competitive positioning versus older stock. Investors should still plan for ongoing system updates and selective renovations to meet current renter expectations and drive rent attainment.
Within a 3-mile radius, households have grown in recent years and are projected to increase further, even as average household size trends lower. This pattern typically expands the renter pool and supports occupancy stability. Neighborhood rents have risen over the past five years and are projected to continue growing, while elevated home values relative to incomes define a high-cost ownership market. For multifamily investors, that dynamic tends to reinforce rental demand and can support pricing power, balanced against retention risk where rent-to-income ratios are higher.
Neighborhood safety trends compare favorably in a regional and national context. Based on WDSuite data, the area ranks 331 out of 1,441 Los Angeles metro neighborhoods for crime, placing it above the metro median and roughly top quartile nationally. Recent year-over-year estimates indicate notable declines in both property and violent offense rates, which, if sustained, can support tenant retention and leasing stability.
These are neighborhood-level indicators rather than block-specific measures. Investors should incorporate site-level diligence, but the broader trend suggests safety conditions that are competitive among Los Angeles neighborhoods.
Proximity to diversified employers supports a steady workforce renter base and commute convenience. Nearby corporate offices include telecommunications, life sciences, insurance, media, and entertainment anchors noted below.
- Charter Communications — telecommunications (7.6 miles)
- Thermo Fisher Scientific — life sciences offices (8.2 miles)
- Farmers Insurance Exchange — insurance (8.4 miles) — HQ
- Radio Disney — media (9.3 miles)
- Disney — entertainment (9.9 miles) — HQ
The property’s 1990 vintage positions it competitively versus older neighborhood stock, offering a practical platform for targeted value-add. At the neighborhood level, occupancy remains strong and renter concentration is high, supporting depth of demand. Elevated ownership costs relative to incomes in this part of Los Angeles help sustain reliance on multifamily rentals, according to commercial real estate analysis from WDSuite, though higher rent-to-income ratios call for thoughtful renewals and pricing.
Households within a 3-mile radius have been increasing and are projected to grow further as household sizes decline, which typically expands the renter pool and supports lease-up and retention. Amenity access skews toward daily-needs grocers and services rather than parks and cafes, and school ratings are lower, so marketing should emphasize convenience and workforce accessibility.
- 1990 construction offers relative competitiveness vs. older neighborhood inventory with room for selective upgrades.
- High neighborhood renter-occupied share and solid occupancy support leasing stability.
- Strong grocery access and proximity to major employers bolster workforce demand and retention.
- Elevated ownership costs reinforce rental demand, balanced by rent-to-income management needs.
- Risks: lower neighborhood school ratings and limited parks/cafes may narrow family-oriented appeal; continued monitoring of macro demand is prudent.