| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8955 Orion Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 2008 |
| Units | 32 |
| Transaction Date | 2001-07-23 |
| Transaction Price | $179,000 |
| Buyer | PICKARD DEAN |
| Seller | FEZHMAN ALL |
8955 Orion Ave North Hills Multifamily Investment
This 32-unit property built in 2008 benefits from strong neighborhood-level occupancy at 95.7% and elevated rental demand, with 82.4% of housing units renter-occupied according to CRE market data from WDSuite.
The North Hills neighborhood demonstrates solid fundamentals for multifamily investors, with occupancy rates of 95.7% ranking in the 75th percentile nationally among neighborhoods. The area maintains strong rental demand, with 82.4% of housing units renter-occupied—ranking in the top 4% of metro neighborhoods among 1,491 total. This elevated rental tenure reflects sustained demand for multifamily housing in the submarket.
Demographics within a 3-mile radius show a stable tenant base, with household income averaging $75,787 and projected to grow 31% over the next five years to $99,171. The area's renter pool is expected to expand as household formation increases 29.7% through 2028, supporting continued absorption. Contract rents in the neighborhood average $1,437, with grocery stores providing strong amenity density at 4.95 per square mile—ranking in the 96th percentile nationally.
The 2008 construction year aligns with neighborhood averages, minimizing near-term capital expenditure requirements while providing modern amenities that support competitive positioning. Home values averaging $682,909 reinforce rental demand by keeping ownership costs elevated relative to renting, sustaining the large renter base that characterizes this urban core location.
Safety metrics show improving trends for the North Hills area. Property crime rates have declined significantly by 77.7% year-over-year, ranking in the 97th percentile nationally for crime reduction. Violent crime has also decreased substantially by 96.3%, placing the neighborhood in the top tier nationwide for safety improvements.
Current crime levels remain moderate compared to other Los Angeles metro neighborhoods, with the area ranking in the upper half among 1,441 total neighborhoods for overall safety. These positive safety trends support tenant retention and property values, contributing to the neighborhood's stable occupancy performance.
The North Hills location provides access to major corporate employers across the San Fernando Valley and greater Los Angeles area, supporting workforce housing demand from professional tenants.
- Charter Communications — telecommunications (7.7 miles)
- Thermo Fisher Scientific — life sciences (7.9 miles)
- Farmers Insurance Exchange — insurance — HQ (8.2 miles)
- Disney — entertainment — HQ (9.9 miles)
- Live Nation Entertainment — entertainment — HQ (11.8 miles)
This North Hills property offers compelling fundamentals driven by strong rental demand and occupancy stability. The neighborhood's 95.7% occupancy rate and 82.4% renter-occupied housing units demonstrate sustained multifamily demand in an urban core location. Demographics within a 3-mile radius support continued growth, with household formation projected to increase 29.7% through 2028 and median incomes rising 31% to $99,171, expanding the qualified renter pool.
The 2008 construction vintage provides modern amenities without immediate capital expenditure pressure, while elevated home values averaging $682,909 reinforce rental demand by maintaining ownership barriers. Commercial real estate analysis shows the area's strong grocery and restaurant density supports tenant retention, though investors should monitor the neighborhood's C- rating and lower educational attainment levels when evaluating long-term appreciation potential.
- Strong occupancy fundamentals with 95.7% neighborhood rate ranking 75th percentile nationally
- Dominant rental market with 82.4% of housing units renter-occupied
- Growing household formation supporting 29.7% increase in renter pool through 2028
- 2008 construction provides modern amenities without immediate capital requirements
- Risk consideration: C- neighborhood rating and lower educational attainment may limit rent growth potential