| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8916 N Burnet Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1988 |
| Units | 52 |
| Transaction Date | 1996-12-17 |
| Transaction Price | $1,585,000 |
| Buyer | ABECASSIS ARON |
| Seller | FIRST PARIS PORTFOLIO LTD PARTNERSHIP |
8916 N Burnet Ave North Hills Multifamily Opportunity
Neighborhood-level occupancy has held in the upper range and renter concentration is elevated, supporting stable leasing conditions, according to WDSuite’s CRE market data.
Situated in North Hills within the Los Angeles metro, the property benefits from Urban Core fundamentals that favor multifamily demand. Neighborhood occupancy ranks 351st of 1,441 metro neighborhoods, placing it in the top quartile, and renter-occupied housing units are prevalent (rank 78 of 1,441), indicating a deep tenant base for sustained absorption and renewal potential. The area s amenity mix is strong on daily conveniences restaurants, groceries, and pharmacies score in the upper national percentiles which helps support retention and day-to-day livability for residents.
Construction year for the asset is 1988, newer than the neighborhood s average vintage from the late 1970s. That positioning can enhance competitiveness versus older stock while still leaving room for targeted modernization and capital planning on aging systems to support rent positioning and controllable expense management.
Within a 3-mile radius, households have increased recently and are projected to rise further even as population trends edge lower, reflecting smaller household sizes and a broader renter pool. This shift expands the tenant base and supports occupancy stability and leasing velocity. Median contract rents in the radius have risen historically and are forecast to continue growing, reinforcing the case for disciplined revenue management rather than aggressive lease-up assumptions.
Ownership costs in the neighborhood are elevated relative to incomes (high national percentile for value-to-income), and the local rent-to-income ratio sits on the tighter side. For investors, this combination typically sustains reliance on multifamily housing and supports pricing power, with the caveat that lease management should account for affordability pressure to protect retention and limit turn.
Safety indicators compare favorably in context. The neighborhood s overall crime ranking is 358th among 1,441 Los Angeles metro neighborhoods competitive for the region and national comparisons trend above the median. Recent estimates also point to notable year-over-year declines in both violent and property incidents, signaling an improving trend rather than a deterioration. As always, investors should consider property-level measures and broader submarket context when underwriting.
Proximity to major employers across telecom, life sciences, insurance, media, and entertainment supports a diversified renter base and commute convenience, aiding demand depth and lease retention.
- Charter Communications telecom & media offices (7.2 miles)
- Thermo Fisher Scientific life sciences (8.4 miles)
- Farmers Insurance Exchange insurance (8.6 miles) HQ
- Radio Disney media (8.9 miles)
- Disney entertainment (9.5 miles) HQ
This 52-unit, 1988-vintage asset in North Hills aligns with a neighborhood showing top-quartile occupancy performance and a high share of renter-occupied housing units, both supportive of durable multifamily demand. Elevated ownership costs in the area tend to reinforce reliance on rentals, while nearby amenities and employment nodes help underpin retention. According to CRE market data from WDSuite, the neighborhood s operating backdrop remains favorable relative to many Los Angeles peers.
Within a 3-mile radius, rising household counts alongside smaller household sizes suggest a larger tenant base over time even as population softens, which can support occupancy stability and steady leasing. The 1988 vintage is newer than the neighborhood average, offering competitive positioning versus older stock with potential upside from targeted renovations and system updates.
- Strong neighborhood occupancy and deep renter-occupied housing share support stable absorption and renewals.
- 1988 vintage is newer than local average, with value-add potential via selective modernization.
- Household growth within 3 miles expands the renter pool, aiding lease-up and retention.
- Elevated ownership costs sustain multifamily reliance, supporting pricing power with prudent lease management.
- Risks: affordability pressure and typical urban safety perceptions require disciplined screening and resident services.