| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8742 Orion Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1984 |
| Units | 22 |
| Transaction Date | 2013-12-11 |
| Transaction Price | $2,000,000 |
| Buyer | WYNER STEWART |
| Seller | SOLAZZO GARY D |
8742 Orion Ave North Hills Multifamily Investment
Neighborhood fundamentals point to steady renter demand and occupancy stability, according to WDSuite’s CRE market data for North Hills. High renter concentration and a competitive occupancy profile support leasing durability for well-positioned assets.
North Hills (Los Angeles County) offers an Urban Core setting with everyday conveniences and dense renter demand drivers. Grocery access is a relative strength, ranking in the top decile nationally for stores per square mile, while restaurant density sits well above national norms. By contrast, cafes, parks, and pharmacies are sparse locally, which may limit certain lifestyle amenities compared with other Los Angeles neighborhoods.
For investors screening multifamily assets, the neighborhood shows a renter-occupied share measured at 82.4% of housing units, signaling a large tenant base. Neighborhood occupancy is competitive nationally (75th percentile), which historically supports stable cash flow and mitigates prolonged vacancy risk when units are well-priced and maintained.
School quality trends below national averages (average rating 1.0 out of five), an element to factor into leasing narratives and resident retention if targeting family renters. Still, grocery and service access can help underpin day-to-day livability.
Within a 3-mile radius, recent population counts have edged down modestly while household counts have increased and are projected to continue rising alongside smaller average household sizes. This mix typically indicates more one- to two-person households entering the renter pool, supporting absorption for efficient floor plans and sustaining occupancy, based on CRE market data from WDSuite.
Ownership costs benchmark high for the neighborhood (home values in the 92nd percentile nationally and a value-to-income ratio in the 99th percentile). In practice, this high-cost ownership market often reinforces reliance on rental housing, aiding pricing power for competitively positioned multifamily while warranting careful lease management given rent-to-income pressures.
Safety indicators for the neighborhood compare favorably at the national level, with overall conditions positioned in the upper quartile nationwide. Recent WDSuite data also shows steep year-over-year declines in both property and violent offense estimates, suggesting an improving trend rather than a deterioration.
As with any Los Angeles sub-area, conditions can vary by block and over time; investors should pair these comparative signals with on-the-ground diligence and current operating insights from nearby assets.
The area draws from a diversified employment base across media/entertainment, telecom, life sciences, and insurance, supporting commuter convenience and a broad renter pool. Nearby anchors include Charter Communications, Thermo Fisher Scientific, Farmers Insurance Exchange, Radio Disney, and Disney.
- Charter Communications — telecom (7.6 miles)
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance (8.1 miles) — HQ
- Radio Disney — media (9.1 miles)
- Disney — entertainment (9.8 miles) — HQ
8742 Orion Ave is a 22-unit multifamily asset in North Hills, built in 1984, positioning it slightly newer than the neighborhood’s average vintage. That timing can provide a competitive edge versus older stock, with potential value-add through unit and systems modernization to capture steady renter demand. According to CRE market data from WDSuite, the neighborhood’s occupancy stands in the upper national quartiles alongside an 82.4% renter-occupied share of housing units, supporting a deep tenant base for well-priced units. With an average unit size of about 480 square feet, efficient layouts can align with demand from smaller households.
Local ownership costs are elevated relative to incomes (high national percentiles for home values and value-to-income ratio), which tends to sustain reliance on rentals and support pricing power. Within a 3-mile radius, household counts have increased and are projected to rise further even as household sizes trend smaller, indicating ongoing renter pool expansion for compact floor plans. Balancing this, rent-to-income ratios point to affordability pressure, and school ratings trail national averages—factors to underwrite through competitive unit finishes, thoughtful amenity positioning, and disciplined lease management.
- Competitive neighborhood occupancy and high renter-occupied share support durable demand
- 1984 vintage offers value-add via modernization while remaining competitive against older stock
- High-cost ownership market reinforces renter reliance, aiding pricing power for well-positioned units
- 3-mile household growth and smaller household sizes expand the tenant base for efficient floor plans
- Risks: affordability pressure (rent-to-income), lower school ratings, and limited parks/cafes may affect retention