| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15532 Nordhoff St, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 2007 |
| Units | 31 |
| Transaction Date | 2005-12-16 |
| Transaction Price | $600,000 |
| Buyer | WOODLAND TERRACE LP |
| Seller | A COMMUNITY OF FRIENDS NPO |
15532 Nordhoff St North Hills Multifamily Investment
This 31-unit property built in 2007 benefits from strong rental demand in a neighborhood with 95.7% occupancy and 82.4% of housing units renter-occupied, according to CRE market data from WDSuite.
Built in 2007, this property is positioned in a neighborhood where the average construction year is 1979, indicating newer housing stock that may require less immediate capital expenditure compared to older area buildings. The neighborhood demonstrates strong rental fundamentals with 82.4% of housing units renter-occupied, ranking in the top quartile nationally among 1,491 metro neighborhoods.
Occupancy levels remain solid at 95.7%, positioning above the 75th percentile nationally and supporting stable cash flows for multifamily operators. Contract rents in the neighborhood average $1,437, with 37% growth over the past five years, while demographic data within a 3-mile radius shows a median household income of $76,368 with household formation trends supporting continued rental demand.
The area provides practical amenities with 4.95 grocery stores per square mile, ranking in the 96th percentile nationally for grocery access, and 1.65 childcare facilities per square mile at the 90th percentile. However, residents face limited recreational options with minimal park and cafe density. Home values averaging $682,909 with 48% appreciation over five years reinforce rental demand by keeping ownership costs elevated relative to renting options.
Demographics within the 3-mile radius project household growth of 30.4% through 2028, expanding the potential tenant base from 74,332 to 96,947 households. Forecast rent growth of 32% over the next five years suggests continued pricing power, though operators should monitor affordability pressures as rent-to-income ratios currently rank in the bottom quartile nationally.
The neighborhood ranks 331 out of 1,441 metro neighborhoods for overall crime, placing it above the metro median and in the 77th percentile nationally. Property crime rates show improvement with a 77.7% decline over the past year, ranking in the 97th percentile for crime reduction trends among Los Angeles metro neighborhoods.
Violent crime rates remain moderate at 23.0 incidents per 100,000 residents, though the area has seen a substantial 96.3% decrease in violent crime over the past year. This improvement trend ranks in the top percentile nationally, suggesting strengthening security conditions that may support tenant retention and property values.
The property benefits from proximity to major corporate employers across entertainment, insurance, and technology sectors, providing workforce housing opportunities for a diverse professional tenant base.
- Charter Communications — telecommunications (7.6 miles)
- Thermo Fisher Scientific — life sciences (8.1 miles)
- Farmers Insurance Exchange — insurance (8.3 miles) — HQ
- Radio Disney — entertainment (9.3 miles)
- Disney — entertainment (10.0 miles) — HQ
This 31-unit property built in 2007 operates in a neighborhood with fundamentally strong rental dynamics, including 95.7% occupancy and 82.4% renter-occupied housing units. The 2007 construction year positions the asset ahead of the neighborhood's 1979 average, potentially reducing near-term capital expenditure requirements while maintaining competitive appeal. Demographic projections within a 3-mile radius show household growth of 30% through 2028, expanding the tenant pool from 74,332 to 96,947 households and supporting sustained occupancy levels.
Multifamily property research from WDSuite indicates median home values of $682,909 with 48% appreciation over five years, reinforcing rental demand by keeping ownership costs elevated relative to rental options. However, current rent-to-income ratios rank in the bottom quartile nationally, requiring careful lease management and renewal strategies to balance pricing power with tenant retention in an affordability-sensitive market.
- Strong rental fundamentals with 95.7% neighborhood occupancy and 82% renter-occupied units
- 2007 construction provides competitive positioning versus 1979 neighborhood average
- Projected 30% household growth through 2028 supports tenant demand expansion
- High home values reinforce rental market participation over ownership
- Risk consideration: Bottom quartile rent-to-income ratios require careful lease pricing strategy