| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 15555 Parthenia St, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1978 |
| Units | 41 |
| Transaction Date | 2009-10-21 |
| Transaction Price | $1,888,500 |
| Buyer | PARTENIA LLC |
| Seller | LIMITED CALIFORNIA PROPERTIES LLC |
15555 Parthenia St North Hills 41-Unit Multifamily
Neighborhood occupancy has been resilient and renter demand deep, according to WDSuite’s CRE market data, supporting stable performance for well-managed assets in North Hills. With a large renter base and strong local services, the area favors steady leasing over volatility.
This Urban Core neighborhood in the Los Angeles metro shows durable fundamentals for multifamily. Neighborhood occupancy is 95.7%, landing in the 75th percentile nationally, which points to steady leasing fundamentals rather than outsized volatility. Median asking rents are above national norms (76th percentile), suggesting pricing power for competitive product while requiring attention to affordability and retention.
Renter concentration is high at the neighborhood level (82.4% of housing units renter-occupied; competitive among Los Angeles neighborhoods given 45th of 1,441 rank), indicating a deep tenant base for multifamily owners. Home values sit in the 92nd percentile nationally, a high-cost ownership market that tends to reinforce reliance on rental housing and can support occupancy stability and lease retention.
Amenities are mixed: grocery access is a strength (96th percentile nationally), while parks, pharmacies, and cafes are relatively sparse. Restaurants index well (80th percentile). Average school ratings track in the lower range (15th percentile), which may matter for family-oriented product but is less likely to deter workforce renters near employment nodes. Average NOI per unit trends around the 60th percentile nationally, signaling competitive operating performance in comparable neighborhoods (based on CRE market data from WDSuite).
Within a 3-mile radius, demographics show a modest population dip over the past five years alongside growth in household counts and smaller average household sizes. This pattern generally expands the renter pool and supports occupancy stability even as population edges down. Median household income has risen, and rents are projected to continue upward from current levels, providing potential for revenue growth while underscoring the importance of proactive lease management.
Safety trends compare favorably at a national level. Overall crime sits around the 77th percentile for safety nationwide (top quartile nationally). Recent data also indicates sharp year‑over‑year declines in both violent and property offense estimates, a positive directional signal rather than a guarantee of future conditions (according to CRE market data from WDSuite). As always, investors should assess micro‑location conditions and property-specific controls in addition to neighborhood benchmarks.
Nearby corporate offices create a sizeable employment base that supports renter demand and commuting convenience, notably in media/entertainment, insurance, and life sciences.
- Charter Communications — telecommunications (7.5 miles)
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance (8.1 miles) — HQ
- Disney — media & entertainment (9.7 miles) — HQ
- Live Nation Entertainment — media & entertainment (11.4 miles) — HQ
The property’s 41-unit scale positions it well for professional management in a renter-heavy North Hills location. Neighborhood occupancy is solid (mid‑70s percentile nationally) with rents above national norms, and the local ownership market is high cost, which typically sustains multifamily demand and supports lease retention. According to CRE market data from WDSuite, comparable neighborhoods deliver competitive NOI per unit, reinforcing a case for steady operations.
Built in 1978, the asset likely benefits from value‑add and modernization levers (systems, interiors, common areas) to sharpen competitiveness against newer stock. Within a 3‑mile radius, household counts are rising even as average household size declines, which generally expands the renter pool and helps stabilize occupancy. Near‑term pricing power should be balanced against affordability pressure, making renewal strategy and expense discipline important to the thesis.
- Renter-heavy neighborhood and high-cost ownership market support depth of tenant demand and lease retention.
- Stable neighborhood occupancy and above‑national rent levels point to consistent income potential for competitive product.
- 1978 vintage offers value‑add and modernization upside to enhance positioning versus newer assets.
- Diverse nearby employers in media, insurance, and life sciences bolster leasing stability through commuter convenience.
- Risk: elevated rent‑to‑income pressures require careful renewal management and expense control to protect retention.