| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8935 Burnet Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 1997-06-23 |
| Transaction Price | $1,200,000 |
| Buyer | H K REALTY INC |
| Seller | CAL BAY MTG |
8935 Burnet Ave North Hills Multifamily Investment
This 36-unit North Hills property benefits from strong neighborhood-level occupancy at 97.4% and rental market fundamentals that support consistent cash flows. The area's 77.8% renter share ranks in the top quartile nationally, indicating sustained multifamily demand according to CRE market data from WDSuite.
North Hills presents a dense rental market environment with neighborhood-level occupancy at 97.4%, ranking above 86% of neighborhoods nationally. The area's rental tenure share of 77.8% places it in the top quartile among the 1,441 Los Angeles metro neighborhoods, reflecting strong structural demand for multifamily housing. Contract rents have increased 36.8% over five years, demonstrating pricing power in this market segment.
The property's 1987 construction year aligns with the neighborhood average of 1979, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. Demographics within a 3-mile radius show a stable renter base with 265,076 residents and moderate household income growth of 33.8% over five years, supporting rent collection stability.
Amenity density supports tenant retention with 19.5 restaurants per square mile ranking in the 96th percentile nationally, plus strong grocery access at 2.54 stores per square mile. However, the area shows limited park access and school ratings average 1.66 out of 5, factors that may influence tenant profiles and lease-up strategies. Home values at $540,245 median with 57% five-year appreciation reinforce rental demand by maintaining elevated ownership costs relative to rental options.
Forward-looking demographics indicate household growth of 30.8% projected through 2028, with median household income expected to reach $96,761, up 30.4% from current levels. This expansion in the renter pool, combined with stable occupancy trends, supports long-term multifamily fundamentals in the submarket.
Safety metrics show mixed but improving trends for the North Hills area. Property crime rates decreased substantially by 72.8% year-over-year, ranking in the 96th percentile nationally for crime reduction. Current property offense rates of 241.9 per 100,000 residents place the neighborhood near the metro median among 1,441 Los Angeles area neighborhoods.
Violent crime rates also declined significantly, dropping 96.3% over the past year and ranking in the top percentile nationally for improvement. Current violent offense rates of 23.6 per 100,000 residents position the area competitively within the metro region. These downward crime trends may support tenant retention and property values, though investors should monitor whether these improvements sustain over time.
The North Hills area benefits from proximity to major corporate employers that support workforce housing demand, including entertainment, telecommunications, and insurance headquarters within commuting distance.
- Charter Communications — telecommunications (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 36-unit North Hills property offers stable cash flow fundamentals anchored by exceptional neighborhood-level occupancy of 97.4% and a rental market structure where 77.8% of housing units are renter-occupied. The 1987 construction vintage presents value-add renovation opportunities while contract rents have demonstrated 36.8% growth over five years. Projected household growth of 30.8% through 2028 supports long-term tenant demand, with median incomes expected to rise to $96,761.
Crime reduction trends show significant improvement with property offenses down 72.8% year-over-year, while proximity to major employers including Disney headquarters and Farmers Insurance Exchange provides workforce housing appeal. According to multifamily property research from WDSuite, the area's rental tenure ranking in the top quartile nationally indicates structural demand that supports occupancy stability and renewal rates.
- Neighborhood occupancy at 97.4% ranks above 86% of areas nationally
- Rental tenure share of 77.8% in top quartile among 1,441 metro neighborhoods
- 1987 vintage offers value-add renovation upside potential
- Projected 30.8% household growth supports expanding tenant base
- Limited park access and below-average school ratings may constrain tenant profiles