| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9009 Burnet Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 2009 |
| Units | 43 |
| Transaction Date | 2019-10-17 |
| Transaction Price | $16,250,000 |
| Buyer | LING PAUL SIONG KUONG |
| Seller | DEELS PROPERTIES L P |
9009 Burnet Ave North Hills Multifamily Opportunity
High neighborhood occupancy and a deep renter base suggest durable leasing fundamentals, according to WDSuite’s CRE market data, supporting a steady outlook for stabilized operations.
Located in North Hills within the Los Angeles-Long Beach-Glendale metro, the neighborhood carries a B- rating and an Urban Core profile. Amenity access is a relative strength: amenity access ranks in the top quartile among 1,441 metro neighborhoods (rank 330 of 1,441), and food-and-beverage density is strong nationally (restaurants around the 96th percentile; cafes around the 93rd percentile), supporting day-to-day renter convenience.
Housing fundamentals trend favorable for multifamily: the neighborhood’s housing dimension ranks in the top quartile among 1,441 metro neighborhoods (rank 323 of 1,441), and occupancy is elevated (top quartile by metro rank at 351 of 1,441 and around the 86th percentile nationally). A high share of housing units are renter-occupied (approximately 77.8% renter concentration), indicating depth in the tenant base and potential stability for lease-up and renewals.
The ownership landscape skews high-cost by national standards (home values around the 86th percentile; value-to-income near the 97th percentile), which tends to reinforce reliance on rental options and can support pricing power when managed carefully. At the same time, rent-to-income metrics indicate elevated affordability pressure relative to national norms, suggesting attention to lease management and retention will be important for operators.
Livability factors are mixed: pharmacies and grocery access index high nationally (roughly 92nd and 87th percentiles), though neighborhood park access is limited. Average school ratings trend below national norms, which may influence family renter preferences. Overall demographics within a 3-mile radius show modest population contraction alongside growth in total households and smaller average household sizes over time—dynamics that can expand the renter pool and support occupancy for appropriately positioned units.
Vintage positioning is a relative advantage: the average neighborhood construction year is 1979, while the subject was built in 2009. Newer product can compete well against older stock, though investors should still plan for ongoing systems upkeep and selective modernization to sustain competitiveness.
Safety indicators compare favorably at a high level. Based on CRE market data from WDSuite, the neighborhood is roughly in the top quartile for safety nationally, with offense rates that trend better than many urban peers. Recent year-over-year estimates point to declining violent and property offense rates, which, if sustained, support renter retention and leasing stability.
As with any urban Los Angeles submarket, conditions can vary by block and over time. Investors should underwrite with a neighborhood-level lens, monitor trends, and align onsite measures with resident expectations.
Nearby employment centers provide diverse white-collar demand drivers and reasonable commute sheds for renters, including media/entertainment, insurance, and life sciences—specifically Charter Communications, Thermo Fisher Scientific, Farmers Insurance Exchange, Radio Disney, and Disney.
- Charter Communications — telecommunications offices (7.2 miles)
- Thermo Fisher Scientific — life sciences offices (8.4 miles)
- Farmers Insurance Exchange — insurance (8.6 miles) — HQ
- Radio Disney — media offices (8.9 miles)
- Disney — entertainment studios/offices (9.6 miles) — HQ
9009 Burnet Ave offers scale for its submarket at 43 units and a 2009 vintage that is newer than the neighborhood’s 1979 average—positioning the asset competitively versus older stock. Neighborhood fundamentals show elevated occupancy and a high share of renter-occupied housing units, which together point to depth in the tenant base and potential stability in collections and renewals. According to WDSuite’s commercial real estate analysis, strong amenity access and a high-cost ownership landscape in North Hills help sustain multifamily demand, though operators should balance pricing with rent-to-income realities.
Within a 3-mile radius, households have been growing and are projected to increase further even as population trends edge down, implying smaller household sizes and a broader renter pool over time. This backdrop, combined with proximity to diverse employment nodes, supports a steady leasing outlook. Investors should still plan for ongoing capital to maintain 2009 systems and selectively refresh interiors to capture value-add upside where feasible, while underwriting for affordability pressure and variable school ratings.
- Newer 2009 vintage versus neighborhood average, offering competitive positioning against older inventory
- Elevated neighborhood occupancy and high renter-occupied share support leasing stability
- Amenity-rich Urban Core location with strong F&B and grocery access bolstering renter convenience
- Household growth within 3 miles and access to diverse employment nodes underpin demand
- Risks: affordability pressure (rent-to-income), limited park access, and below-average school ratings