| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9037 Burnet Ave, North Hills, CA, 91343, US |
| Region / Metro | North Hills |
| Year of Construction | 1988 |
| Units | 54 |
| Transaction Date | 1998-01-08 |
| Transaction Price | $1,935,000 |
| Buyer | SATICOY ENTERPRISES |
| Seller | WASHINGTON MUTUAL BANK FA |
9037 Burnet Ave North Hills Multifamily Investment
Neighborhood occupancy remains resilient with a deep renter base, supporting stable leasing dynamics according to WDSuite’s CRE market data. The location’s urban amenity mix and high-cost ownership market reinforce renter demand potential.
Located in North Hills within the Los Angeles-Long Beach-Glendale metro, the neighborhood trends point to durable multifamily demand. Neighborhood occupancy is strong (top quartile nationally) and competitive among 1,441 metro neighborhoods, which supports income stability and reduces lease-up risk relative to softer submarkets. The share of housing units that are renter-occupied is elevated at the neighborhood level (top tier among 1,441), indicating a broad tenant base for mid-size assets like a 54-unit property.
Amenity access favors urban living: restaurants and cafes rank in the mid-90s percentiles nationally, and grocery and pharmacy density sit well above the national median, according to CRE market data from WDSuite. Park access is limited (bottom of metro distribution), which may matter for family-oriented renters, but the day-to-day retail and dining fabric remains a draw for retention.
Home values sit high for the local income profile, placing the area in a high-cost ownership market (national value-to-income near the top decile). For investors, that context tends to sustain reliance on rental housing and can support pricing power, though careful lease management is warranted given a higher rent-to-income ratio in the neighborhood.
Within a 3-mile radius, households have grown over the last five years and are projected to expand materially through the forecast period, even as population edges down. This mix—more households and smaller average household size—typically broadens the renter pool and supports occupancy stability for well-managed assets. Median and mean incomes have trended upward, which helps offset affordability pressure and supports rent growth durability for competitively positioned units.
Vintage context: the property’s 1988 construction is newer than the neighborhood’s average vintage (1979). That relative youth can be a competitive edge versus older 1970s stock, while still leaving room for targeted modernization to enhance rentability and control near-to-midterm capital expenditure timing.
Operating backdrops are constructive: neighborhood housing metrics and NOI per unit sit above national medians, indicating income potential is supported by local fundamentals rather than outsized concessions. School ratings trend below national averages, which may temper demand from some family renters but does not typically override workforce-driven demand in urban core settings.
Safety indicators compare favorably: the neighborhood sits around the top quartile nationally for safety and is competitive among 1,441 Los Angeles-Long Beach-Glendale neighborhoods. According to WDSuite’s CRE market data, both violent and property offense rates have posted notable year-over-year declines, suggesting improving conditions relative to recent periods. Investors should continue to monitor trendlines at the neighborhood level, but current trajectories support leasing stability for well-run assets.
Proximity to major employers underpins workforce housing demand and commute convenience, with access to telecom, life sciences, insurance, media, and entertainment employers that can support tenant retention.
- Charter Communications — telecommunications (7.2 miles)
- Thermo Fisher Scientific — life sciences (8.4 miles)
- Farmers Insurance Exchange — insurance (8.7 miles) — HQ
- Radio Disney — media (9.0 miles)
- Disney — entertainment (9.6 miles) — HQ
9037 Burnet Ave is positioned in a renter-heavy, urban amenity corridor where neighborhood occupancy trends are strong and competitive on a metro basis. The 1988 vintage offers a relative age advantage versus 1970s-era stock nearby, with the option to create value through targeted renovations and systems upgrades that enhance leasing velocity and retention.
According to CRE market data from WDSuite, the neighborhood sits in the top quartile nationally for occupancy, while a high-cost ownership backdrop sustains reliance on multifamily housing. Within a 3-mile radius, households are increasing and are projected to expand further as average household size declines—conditions that typically expand the renter pool and support sustained demand. Key watch items include affordability pressure (higher rent-to-income), limited park access, and below-average school ratings, which call for disciplined lease management and amenity programming.
- Strong neighborhood occupancy and renter concentration support stable cash flow potential
- 1988 construction offers competitive positioning versus older local stock with value-add upside
- Urban amenity density (restaurants, groceries, pharmacies) supports retention and leasing
- Expanding household counts within 3 miles point to a larger tenant base over time
- Risks: higher rent-to-income ratios, limited park access, and weaker school ratings require attentive asset management