| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 36th | Fair |
| Amenities | 30th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13849 Chase St, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1978 |
| Units | 20 |
| Transaction Date | 2020-08-26 |
| Transaction Price | $3,400,000 |
| Buyer | PBM 3 LLC |
| Seller | HARGES LORELEI |
13849 Chase St, Panorama City — 20-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and elevated occupancy, according to CRE market data from WDSuite. In a high-cost ownership pocket of Los Angeles County, the asset benefits from a broader tenant base seeking professionally managed apartments.
Located in Panorama City within the Los Angeles-Long Beach-Glendale metro, the property sits in a neighborhood rated C- (ranked 1,236 of 1,441 metro neighborhoods). Even with a lower neighborhood rating, occupancy in the surrounding area is comparatively strong versus national norms, supporting income stability for well-managed properties.
Livability signals are mixed: park access is a clear strength (top percentile nationally), while on-the-block retail like cafes, groceries, and pharmacies is limited. Restaurant density is competitive, offering everyday dining options nearby. School quality trends around the national median, which can support broad household appeal without commanding premium-family pricing.
Housing context favors rentals. Home values are elevated for the area and the value-to-income ratio ranks high nationally, which tends to reinforce reliance on multifamily housing and support lease retention. Rent-to-income readings suggest manageable affordability pressure locally, which can help reduce turnover risk.
Within a 3-mile radius, demographic data from WDSuite indicates households have grown modestly even as population trends have softened, with average household sizes edging lower. Renter-occupied housing accounts for roughly 58% of units in this radius, indicating a deep tenant base and consistent demand for professionally managed apartments. The neighborhood s average construction year skews older (1964), giving a 1978 asset relative competitiveness versus much of the existing stock while still leaving room for targeted modernization.
Safety metrics should be viewed in context. Recent-year trends show notable improvement in both property and violent offense estimates, placing the neighborhood among the stronger improvers nationally. Current levels track above the national median (i.e., safer than many neighborhoods nationwide), though not top-tier for the region. Investors should underwrite to continued operational vigilance and standard security measures while recognizing the positive direction of change.
The area draws from a diverse employment base anchored by media, telecommunications, insurance, and life sciences offices, supporting commuter convenience and renter retention for workforce-oriented multifamily. Notable nearby employers include Charter Communications, Radio Disney, Disney, Thermo Fisher Scientific, and Farmers Insurance Exchange.
- Charter Communications — telecommunications (5.6 miles)
- Radio Disney — media (7.4 miles)
- Disney — entertainment (8.0 miles) — HQ
- Thermo Fisher Scientific — life sciences offices (9.7 miles)
- Farmers Insurance Exchange — insurance (10.0 miles) — HQ
This 20-unit 1978 vintage property aligns with renter demand drivers in a high-cost ownership market of Los Angeles County. Elevated neighborhood occupancy and a large renter pool within a 3-mile radius support income durability, while the asset 19s vintage is newer than much of the area 19s older housing, providing competitive positioning with potential for targeted renovations to boost rents and reduce long-term CapEx risk. According to CRE market data from WDSuite, home values and value-to-income ratios trend high locally, which typically sustains reliance on rentals and supports pricing power for well-operated communities.
Forward-looking demographics show household counts expanding even as household sizes trend smaller, implying a broader base of potential renters and ongoing leasing depth. Operators should still plan around middling neighborhood ratings and uneven retail amenity density, focusing on on-site experience and management to drive retention.
- Elevated neighborhood occupancy and deep renter base support income stability
- 1978 vintage is newer than local average, with value-add and modernization potential
- High-cost ownership landscape reinforces demand for professionally managed rentals
- Household growth and smaller household sizes expand the tenant pool within 3 miles
- Risks: mixed neighborhood rating and limited walk-to retail require stronger on-site programming