| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8841 Orion Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1984 |
| Units | 36 |
| Transaction Date | 1996-12-20 |
| Transaction Price | $1,652,140 |
| Buyer | CENFED BANK FSB |
| Seller | ELLIAS VICTOR Y |
8841 Orion Ave North Hills Multifamily Investment
This 36-unit property offers exposure to Los Angeles County's rental-heavy demographics and strong occupancy fundamentals. Neighborhood-level occupancy trends remain above 95%, according to WDSuite's CRE market data.
The North Hills neighborhood demonstrates solid multifamily fundamentals with occupancy rates at 95.7% and a rental share of 82.4%, ranking in the top quartile among 1,441 Los Angeles metro neighborhoods. This renter-concentrated environment supports consistent tenant demand and lease-up velocity for investment properties.
Demographic data aggregated within a 3-mile radius shows a population of approximately 256,000 residents with median household income of $74,918. Projections indicate household growth of 30% over the next five years, expanding the renter pool from approximately 37,400 to 43,900 occupied rental units. Contract rents in the broader area average $1,655, with 34% growth projected through 2028, supporting rental rate progression.
The property's 1984 construction year aligns closely with the neighborhood average of 1979, positioning the asset for targeted renovations and value-add opportunities without obsolescence concerns. Grocery access ranks in the 96th percentile nationally with nearly 5 stores per square mile, while childcare density ranks in the 90th percentile, supporting tenant retention among families.
Home values averaging $682,909 with 48% appreciation over five years create affordability challenges for ownership, keeping households in the rental market longer. However, the rent-to-income ratio ranks in the bottom 3rd percentile nationally, indicating potential pressure on tenant retention and requiring careful monitoring of concessions and renewal rates.
Safety metrics show the neighborhood ranking 331st out of 1,441 Los Angeles metro neighborhoods for overall crime, placing it above metro average and in the 77th percentile nationally. Property crime rates have declined significantly, falling 78% year-over-year, while violent crime rates dropped 96% over the same period.
These improving crime trends, combined with above-average safety rankings relative to the broader metro area, support tenant retention and leasing stability. However, investors should continue monitoring local safety initiatives and community policing efforts to ensure sustained improvement in neighborhood conditions.
The North Hills area benefits from proximity to major corporate employers across entertainment, insurance, and technology sectors, providing diverse employment support for rental demand within commuting distance.
- Charter Communications — telecommunications (7.6 miles)
- Thermo Fisher Scientific — life sciences & technology (7.9 miles)
- Farmers Insurance Exchange — insurance services (8.1 miles) — HQ
- Disney — entertainment & media (9.9 miles) — HQ
- Live Nation Entertainment — entertainment services (11.6 miles) — HQ
This North Hills property offers exposure to Los Angeles County's rental-heavy market dynamics with neighborhood occupancy at 95.7% and an 82.4% rental share ranking in the top quartile metro-wide. The 1984 vintage provides value-add renovation potential while demographic projections show 30% household growth over five years, expanding the tenant base from 37,400 to 43,900 occupied rental units within a 3-mile radius.
High home values averaging $682,909 create ownership barriers that support rental demand, though investors should monitor the rent-to-income ratio which ranks in the bottom 3rd percentile nationally. According to commercial real estate analysis from WDSuite, improving safety metrics and proximity to major employers including Disney, Charter Communications, and Farmers Insurance provide employment stability for the tenant base.
- Strong occupancy fundamentals with 95.7% neighborhood rates and top-quartile rental concentration
- Projected 30% household growth expanding renter pool by 6,500 units within 3 miles
- Value-add renovation opportunities with 1984 construction aligning to neighborhood norms
- High ownership costs support rental demand with $682,909 median home values
- Risk: Bottom 3rd percentile rent-to-income ratio requires careful renewal rate monitoring