| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8926 Burnet Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1988 |
| Units | 61 |
| Transaction Date | 1996-12-17 |
| Transaction Price | $1,825,000 |
| Buyer | ABECASSIS ARON |
| Seller | FIRST PARIS PORTFOLIO LTD PARTNERSHIP |
8926 Burnet Ave North Hills Multifamily Investment
This 61-unit property built in 1988 offers potential value-add opportunities in a neighborhood with strong occupancy fundamentals, according to CRE market data from WDSuite.
The North Hills neighborhood demonstrates solid rental market fundamentals with 97.4% occupancy rates, ranking above metro median among 1,441 Los Angeles metro neighborhoods. This Urban Core location maintains a strong rental housing base, with 77.8% of housing units renter-occupied, supporting consistent tenant demand in the top national percentile.
Demographics within a 3-mile radius show 265,156 residents with median household income of $74,103, representing 34% growth over five years. The area supports a diverse age distribution with 26.5% of residents aged 18-34 and 38.1% aged 35-64, creating a stable renter base. Projected household growth of 30.7% through 2028 indicates expanding rental demand, with median rents forecast to reach $2,127.
Built in 1988, this property represents the neighborhood's average construction vintage of 1979, positioning it well within local building stock norms. The area offers strong amenity density with 19.5 restaurants per square mile and convenient access to grocery stores and pharmacies, ranking in the top national quartile for cafe accessibility. However, school ratings average 1.66 out of 5, which may influence family tenant retention considerations.
Elevated home values at $540,245 median, representing 57% appreciation over five years, sustain rental demand as ownership costs limit accessibility for many households. The rent-to-income ratio of 0.35 suggests manageable affordability for tenants, though this metric ranks in the bottom quartile nationally, indicating potential lease management considerations in economic downturns.
Safety metrics show the neighborhood performing above metro average, ranking in the 76th percentile nationally for overall crime measures among 1,441 Los Angeles metro neighborhoods. Property offense rates have declined significantly by 72.8% over the past year, placing the area in the 96th percentile nationally for crime reduction trends.
Violent crime rates remain moderate at 23.6 incidents per 100,000 residents, with a notable 96.3% decrease year-over-year, ranking in the top national percentile for violent crime improvement. These downward trends support neighborhood stability and tenant retention considerations for multifamily investors.
The property benefits from proximity to major corporate employers within the Los Angeles market, providing workforce housing opportunities for commuting professionals.
- Charter Communications — telecommunications (7.2 miles)
- Thermo Fisher Scientific — life sciences (8.4 miles)
- Farmers Insurance Exchange — insurance — HQ (8.6 miles)
- Disney — entertainment — HQ (9.5 miles)
- Live Nation Entertainment — entertainment — HQ (11.5 miles)
This 61-unit property presents a value-add opportunity in a stabilizing North Hills neighborhood with strong occupancy fundamentals and improving safety metrics. Built in 1988, the asset offers potential for strategic renovations and rent optimization within a market showing consistent rental demand. Household growth projections of 30.7% through 2028 support long-term tenant base expansion, while proximity to major employers including Disney and Farmers Insurance headquarters provides workforce housing appeal.
The neighborhood's 97.4% occupancy rate and significant crime reduction trends create a foundation for stable operations, though investors should consider the area's below-average school ratings and rent-to-income dynamics in lease management strategies. Commercial real estate analysis indicates this location benefits from strong amenity density and rental housing concentration, positioning it well within the Los Angeles multifamily market.
- Strong occupancy fundamentals with 97.4% neighborhood-level rates above metro median
- Value-add potential in 1988-vintage property with strategic renovation opportunities
- Projected 30.7% household growth supporting expanding rental demand through 2028
- Proximity to major corporate employers including Disney and Farmers Insurance headquarters
- Risk consideration: Below-average school ratings and rent-to-income pressures require careful tenant screening