| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 17th | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9015 N Orion Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 2006 |
| Units | 21 |
| Transaction Date | 2019-09-10 |
| Transaction Price | $2,035,000 |
| Buyer | 9015 ORION LLC |
| Seller | VALLEY VIEW APARTMENTS |
9015 N Orion Ave, North Hills Multifamily Investment
Stabilized renter demand and high renter concentration at the neighborhood level support consistent leasing, according to WDSuite’s CRE market data. Newer 2006 construction versus older local stock positions the asset competitively on operations and future value-add planning.
The property sits in North Hills within Los Angeles County’s Urban Core, where neighborhood occupancy is strong and in the top quartile nationally. The local housing stock skews renter-occupied, with a high share of units designated as renter-occupied at the neighborhood level, indicating depth in the tenant base and support for lease-up and retention in typical cycles.
Everyday amenities are mixed: grocery access is a relative strength (top quartile nationally), while cafes, parks, and pharmacies are less dense in the immediate neighborhood. Average public school ratings in the neighborhood trend below national norms; investors should calibrate marketing and positioning accordingly and consider demand drivers beyond school quality for tenant targeting.
Relative to the metro’s older building stock (average vintage around 1979 for the neighborhood), the subject’s 2006 construction suggests a competitive edge versus legacy assets and potentially lower near-term building systems capex, while still allowing room for targeted renovations or repositioning to meet current renter expectations.
Within a 3-mile radius, recent population has edged down slightly while the number of households has increased, and projections indicate continued gains in households alongside smaller average household sizes. This shift typically supports multifamily demand by expanding the renter pool and sustaining occupancy stability. Elevated home values in the neighborhood (high relative to national benchmarks) reinforce reliance on rental options, aiding pricing power and lease retention for well-managed assets.
Neighborhood safety indicators compare favorably in the Los Angeles-Long Beach-Glendale metro context, with crime conditions competitive among local neighborhoods and placing in the top quartile nationally compared to neighborhoods nationwide. Recent data also show notable one-year declines in both property and violent offense estimates, a positive directional trend for resident sentiment and renter retention, though investors should monitor volatility over longer periods.
Proximity to telecom, life sciences, insurance, and entertainment employers underpins a broad commuter tenant base and supports leasing durability for workforce and mid-market units. The companies below reflect nearby demand drivers by distance.
- Charter Communications — telecommunications (7.7 miles)
- Thermo Fisher Scientific — life sciences (8.0 miles)
- Farmers Insurance Exchange — insurance (8.2 miles) — HQ
- Radio Disney — entertainment offices (9.3 miles)
- Disney — entertainment (10.0 miles) — HQ
The investment case centers on durable renter demand, neighborhood-level occupancy in the top quartile nationally, and positioning versus older local stock. Built in 2006, the asset is newer than the neighborhood average and can compete operationally while offering selective value-add and modernization to meet current preferences. Elevated neighborhood home values help sustain multifamily reliance, supporting pricing power and lease retention for well-managed properties.
Within a 3-mile radius, households have increased and are projected to grow further even as average household size trends lower, which typically expands the renter pool. Neighborhood rent levels and NOI per unit are competitive by national comparison, and occupancy remains solid according to CRE market data from WDSuite, supporting a long-term hold or renovate-to-core strategy. Key watch items include resident affordability pressure and service amenity gaps that may influence marketing and concessions strategy.
- Newer 2006 vintage versus older neighborhood stock supports competitive positioning and measured capex needs
- High neighborhood renter-occupied share and top-quartile occupancy underpin leasing stability
- Elevated neighborhood home values reinforce rental demand and tenant reliance on multifamily housing
- 3-mile household growth and smaller household sizes point to a broader renter pool over the medium term
- Risks: affordability pressure and thinner nearby amenity mix (parks/cafes) may require targeted pricing and concessions