| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8844 Orion Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1985 |
| Units | 43 |
| Transaction Date | 2016-07-14 |
| Transaction Price | $33,238,636 |
| Buyer | EKINS GEORGE W |
| Seller | 8844 ORION APARTMENTS LLC |
8844 Orion Ave North Hills Multifamily Investment
Neighborhood metrics point to a deep renter base and solid occupancy stability, according to WDSuite’s CRE market data. This positioning supports steady leasing for a 43-unit asset in a high-cost ownership market.
North Hills sits within the Los Angeles metro’s Urban Core, where renter-occupied housing is prevalent. The neighborhood’s renter concentration is high (share of housing units that are renter-occupied), indicating a sizable tenant pool and supporting demand depth for multifamily leasing. Neighborhood occupancy trends are top quartile nationally, a positive signal for income stability based on CRE market data from WDSuite.
Within a 3-mile radius, demographics show a modest population contraction alongside an increase in total households, pointing to smaller household sizes and a broader tenant base over time. Projections continue this pattern, with more households and a lower average household size, which generally supports absorption and occupancy for professionally managed rentals rather than implying new unit construction.
Ownership costs are elevated relative to national benchmarks, which tends to reinforce renter reliance on multifamily housing and can aid lease retention. Neighborhood rents are positioned above national medians, suggesting the submarket can support market-rate product when paired with attentive lease management and unit quality.
Local amenities are mixed: grocery access ranks strong among neighborhoods nationwide, while parks, cafes, and pharmacies are comparatively limited within the neighborhood footprint. Average school ratings trend below national norms; operators should weigh this in marketing and tenant mix planning. NOI per unit performance is competitive versus many U.S. neighborhoods, underscoring the area’s potential to sustain stabilized operations with prudent expense control.
Neighborhood safety benchmarks compare favorably at the national level, landing in the top quartile of U.S. neighborhoods by WDSuite’s indices. Recent year-over-year estimates point to meaningful declines in both property and violent offense rates, a constructive trend for tenant retention and leasing consistency. As always, conditions vary by block and over time; investors should corroborate trends with current, property-level diligence across the Los Angeles-Long Beach-Glendale metro’s 1,441 neighborhoods.
Proximity to major corporate offices supports workforce housing demand and commute convenience for residents. Key nearby employers include Charter Communications, Thermo Fisher Scientific, Farmers Insurance Exchange, Radio Disney, and Disney.
- Charter Communications — telecommunications (7.6 miles)
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance (8.1 miles) — HQ
- Radio Disney — media (9.2 miles)
- Disney — entertainment (9.9 miles) — HQ
8844 Orion Ave presents a 43-unit, circa-1985 asset in a Los Angeles Urban Core neighborhood where renter-occupied housing is dominant and neighborhood occupancy performs in the top quartile nationally. The 1985 vintage is newer than the local average stock, which can enhance competitive positioning versus older properties, while still leaving room for targeted modernization to support rent growth and retention. According to CRE market data from WDSuite, elevated home values in the neighborhood context underpin reliance on rental housing, reinforcing demand for well-managed market-rate units.
Within a 3-mile radius, households have increased despite a modest population decline, and projections call for further household growth alongside smaller average household sizes. This trend expands the tenant base and supports occupancy stability. Operators should balance this strength with affordability pressure (higher rent-to-income ratios) and selectively address amenity and school-quality perceptions through unit finishes, service quality, and leasing strategies.
- Strong renter base and top-quartile neighborhood occupancy support stable leasing
- 1985 vintage offers competitive positioning with value-add or modernization upside
- Elevated ownership costs in the area reinforce multifamily demand and lease retention
- 3-mile household growth and smaller household sizes expand the tenant pool
- Risk: affordability pressure and limited neighborhood amenities require careful lease and capital planning