| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15455 W Parthenia St, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1976 |
| Units | 44 |
| Transaction Date | 2003-06-10 |
| Transaction Price | $2,980,000 |
| Buyer | EKINS GEORGE W |
| Seller | H & R PROPERTY CORP |
15455 W Parthenia St North Hills Multifamily Investment
Strong neighborhood occupancy at 95.7% and renter-dominant housing market with 82.4% rental share support consistent tenant demand in this Los Angeles submarket.
This North Hills neighborhood ranks in the top quartile nationally for rental housing concentration, with 82.4% of units occupied by renters compared to just 17.6% owner-occupied. Neighborhood occupancy holds at 95.7%, positioning above the 75th percentile nationally and indicating stable absorption dynamics. The rental-dominant tenure structure reinforces consistent demand for multifamily housing in this Los Angeles submarket.
Demographics within a 3-mile radius show a population of approximately 263,674 residents with median household income of $73,806. Forecasted growth projects household income rising to $98,349 by 2028, representing a 33.3% increase that could support rent growth potential. The area maintains average household size of 3.3 persons, suggesting family-oriented rental demand that aligns with the property's unit configuration.
Built in 1976, this 44-unit property reflects the neighborhood's average construction vintage of 1979, indicating potential value-add opportunities through strategic capital improvements and unit upgrades. The mature building stock suggests investors should factor renovation costs into acquisition analysis while considering upside potential from modernization efforts.
Local amenities support tenant retention with grocery stores ranking in the 96th percentile nationally for density at 4.95 per square mile. Childcare availability also ranks strongly at the 90th percentile with 1.65 facilities per square mile. However, the neighborhood shows limited park access and cafe options, which may impact tenant appeal compared to more amenity-rich submarkets.
Crime metrics show the neighborhood ranking 331st among 1,441 metro neighborhoods, placing it in the 77th percentile nationally for safety. Property offense rates have declined significantly by 77.7% year-over-year, ranking in the 97th percentile for improvement trends. Violent crime rates also decreased substantially by 96.3%, indicating positive directional momentum in neighborhood safety conditions.
These safety improvements support tenant retention and leasing velocity, as security concerns often influence renter decisions in urban markets. The consistent downward trend in both property and violent crime rates suggests neighborhood stabilization that can benefit long-term occupancy performance.
Major corporate employers within reasonable commuting distance provide workforce housing demand, anchored by entertainment, insurance, and technology companies.
- Charter Communications — telecommunications (7.4 miles)
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance — HQ (8.2 miles)
- Disney — entertainment — HQ (9.6 miles)
- Live Nation Entertainment — entertainment — HQ (11.4 miles)
This 44-unit North Hills property benefits from strong rental market fundamentals, with neighborhood occupancy at 95.7% and an 82.4% renter-occupied housing base that ranks in the top percentile nationally. According to CRE market data from WDSuite, the area's rental concentration and stable absorption metrics support consistent tenant demand. Demographic projections show household income growth of 33.3% through 2028, potentially enabling rent growth while maintaining affordability for the existing tenant base.
The 1976 construction vintage aligns with neighborhood norms and presents value-add opportunities through strategic renovations and unit improvements. Strong grocery and childcare amenity density supports family-oriented tenant retention, while proximity to major employers including Disney headquarters and Farmers Insurance provides workforce housing demand within commutable distances.
- High rental concentration at 82.4% indicates sustained multifamily demand
- Neighborhood occupancy at 95.7% demonstrates stable absorption dynamics
- Projected 33.3% household income growth supports rent growth potential through 2028
- Value-add opportunities through strategic capital improvements to 1976 vintage property
- Risk consideration: Limited park and cafe amenities may impact tenant appeal versus competing submarkets