| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15517 Parthenia St, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1979 |
| Units | 22 |
| Transaction Date | 2002-02-21 |
| Transaction Price | $1,150,000 |
| Buyer | VOSE LLC |
| Seller | CF PARTHENIA III LLC |
15517 Parthenia St, North Hills Multifamily Investment
Stabilized renter demand in an Urban Core pocket of North Hills, supported by high neighborhood renter concentration and elevated ownership costs, according to WDSuite’s CRE market data. Expect durable occupancy with potential for disciplined rent management rather than outsized growth.
The property sits in an Urban Core neighborhood where grocery access is strong (competitive nationally), restaurants are plentiful, and daily needs are within a short drive; cafés, parks, and pharmacies are thinner locally. School options rate below average for the metro and nationally, which may temper appeal for some family renters but does not typically disrupt Class B/C workforce leasing.
Neighborhood occupancy is in the mid‑90s and has been steady, supporting income reliability at the neighborhood level rather than rapid rent-up risk. Importantly, the neighborhood’s renter-occupied share is very high (top end of the metro), indicating a deep tenant base that supports leasing velocity and renewal potential at nearby multifamily assets; these are neighborhood metrics, not property performance.
Within a 3‑mile radius, demographic data show households have grown despite modest population contraction, implying smaller household sizes and a broader pool of apartment households over time. Looking ahead, forecasts point to additional household growth and higher incomes in the trade area, which generally supports occupancy stability and pricing power for well-maintained units.
Ownership remains a high-cost path locally: home values are elevated relative to incomes (top national percentiles), a context that tends to reinforce reliance on rental housing. Rent levels are above national medians, and rent-to-income ratios are higher than typical, so proactive affordability and renewal strategies are advisable to manage retention risk.
Safety indicators are mixed in comparative terms. The neighborhood ranks in a less favorable quartile for crime within the Los Angeles metro (331 among 1,441 metro neighborhoods), yet sits above average nationally (around the upper range of U.S. percentiles). Recent year-over-year trends show sharp declines in both violent and property offenses, suggesting improving conditions, though investors should underwrite conservatively and verify current patterns.
Nearby employment anchors span telecommunications, life sciences, insurance, and media/entertainment, supporting workforce housing demand and commute convenience for renters at this address. The following employers are within roughly 7–10 miles.
- Charter Communications — telecommunications (7.5 miles)
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance (8.1 miles) — HQ
- Radio Disney — media & entertainment (9.0 miles)
- Disney — media & entertainment (9.7 miles) — HQ
This 22‑unit asset in North Hills is positioned for steady, defensible cash flow supported by a renter-heavy neighborhood, durable mid‑90s occupancy at the neighborhood level, and a high-cost ownership market that sustains reliance on multifamily. Based on CRE market data from WDSuite, the area’s leasing environment is stable rather than speculative: household counts are expanding within a 3‑mile radius even as population edges lower, broadening the renter pool and supporting renewal-driven strategies.
Forward-looking considerations include income growth in the trade area and continued strength in essential retail access, offset by softer school ratings and mixed safety positioning within the metro. With rent-to-income readings on the higher side, asset plans that emphasize retention, modest upgrades, and expense control can help balance affordability pressure with consistent NOI.
- Renter-heavy neighborhood supports deep tenant base and renewal potential.
- Neighborhood occupancy in the mid‑90s underpins income stability.
- High ownership costs reinforce multifamily demand relative to buying.
- Household growth and rising incomes in 3‑mile trade area support long-term demand.
- Risks: affordability pressure (higher rent-to-income), lower school ratings, and metro-comparative safety position.