| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9023 Burnet Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2008-01-09 |
| Transaction Price | $2,646,363 |
| Buyer | BURNET GARDEN PROPERTY LLC |
| Seller | GREEN PAUL CUTLER |
9023 Burnet Ave, North Hills CA Multifamily
Stabilized renter demand and high neighborhood occupancy support consistent leasing, according to WDSuite’s CRE market data. Positioned for durable cash flow in a high-cost ownership market.
The property sits in North Hills’ Urban Core, where neighborhood occupancy is strong and renter demand is deep. The area carries a B- neighborhood rating and places roughly mid-pack among 1,441 Los Angeles metro neighborhoods, with housing metrics that are competitive for workforce and middle-market renters.
Amenity access is a relative strength: restaurants and cafes rank in the top quartile nationally, with restaurant density competitive even by Los Angeles standards, and grocery and pharmacy access scoring well above national norms. The trade-off is limited park space within the immediate neighborhood. Average school ratings trend below national averages, a consideration for family-oriented leasing strategies.
Vintage matters for positioning: the submarket’s average building year skews to 1979, while this asset’s 1986 construction is somewhat newer, supporting competitive appeal versus older stock. Investors should still plan for aging system upgrades and value-add interior improvements to meet current renter preferences.
Within a 3-mile radius, household counts have increased despite modest population contraction, and are projected to rise further as household sizes trend smaller. Median household incomes have grown meaningfully, and the renter-occupied share sits above 50%, indicating a broad tenant base that supports occupancy stability. Elevated home values relative to incomes reinforce reliance on rental housing, which can translate into steadier leasing and pricing power when managed carefully.
Neighborhood safety indicators compare favorably in a national context. Overall crime levels track in the top quartile nationally for safety, and both property and violent incident rates sit modestly better than national averages. Recent year-over-year trends show notable declines in reported property and violent offenses, based on WDSuite’s CRE market data.
At the metro level (1,441 neighborhoods), the area performs better than many Los Angeles neighborhoods on safety-related measures. As always, investors should rely on current, property-specific due diligence and management practices rather than block-level assumptions.
Nearby corporate offices across media, entertainment, life sciences, and insurance provide diverse employment anchors that support renter demand and commute convenience for residents, including 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 & entertainment offices (8.9 miles)
- Disney — media & entertainment (9.6 miles) — HQ
This 24-unit asset built in 1986 benefits from strong neighborhood occupancy and a renter-heavy housing mix that supports stable leasing. According to CRE market data from WDSuite, the surrounding neighborhood posts above-average occupancy and strong amenity access, while elevated ownership costs in Los Angeles sustain reliance on multifamily housing. The asset’s slightly newer vintage versus the neighborhood average offers competitive positioning, with potential to unlock value through targeted renovations and system upgrades.
Within a 3-mile radius, household counts are rising and projected to expand further as household sizes decline, indicating a larger tenant base over time even as population growth remains muted. Rent levels and incomes have trended upward, underscoring pricing power potential, though rent-to-income levels warrant attentive lease management to support retention.
- High neighborhood occupancy supports cash flow durability
- Renter-heavy area with broad tenant base and amenity depth
- 1986 vintage offers value-add potential via selective upgrades
- Household growth and smaller household sizes expand the renter pool
- Risk: affordability pressure requires thoughtful pricing and retention strategy