| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14611 Vincennes St, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 2009 |
| Units | 80 |
| Transaction Date | 2013-06-24 |
| Transaction Price | $16,200,000 |
| Buyer | Force-MFT Villas, LLC |
| Seller | Villa Vincennes, LLC |
14611 Vincennes St Panorama City Multifamily Investment
This 80-unit property built in 2009 sits in a neighborhood where occupancy exceeds metro averages and renter-occupied units represent 70% of total housing tenure, according to CRE market data from WDSuite.
The property is located in a neighborhood rated B among 1,441 neighborhoods across the Los Angeles-Long Beach-Glendale metro. Neighborhood-level occupancy stands at 97.8%, ranking in the 88th percentile nationally and well above typical metro benchmarks. Renter-occupied units account for 69.7% of housing tenure (97th percentile nationally), underscoring a deep and stable tenant base that supports multifamily demand fundamentals.
Within a 3-mile radius, the area contains approximately 269,000 residents and 75,700 households. Median household income is $74,427, with a five-year growth rate of 33.4%. Median contract rent has risen 33.1% over the same period to $1,641, reflecting sustained pricing power. Forward-looking projections indicate median household income rising to $100,063 by 2028 and contract rent climbing to $2,121, supporting continued rental demand as the renter pool expands.
Median home values in the neighborhood are $503,371 (84th percentile nationally), having grown 52.7% over five years. Elevated ownership costs limit accessibility to ownership for many households, sustaining reliance on rental housing and reinforcing multifamily demand. The rent-to-income ratio of 0.31 ranks in the 5th percentile nationally, indicating affordability pressures that require careful lease management and tenant retention strategies.
Built in 2009, the property is newer than the neighborhood average construction year of 1982, positioning it competitively in terms of unit features and reducing near-term capital expenditure relative to older stock. Amenity density is strong: the neighborhood ranks in the 99th percentile nationally for grocery stores per square mile (8.56) and restaurants (52.32 per square mile), and in the 97th percentile for cafes (2.85 per square mile). Childcare availability (0.95 per square mile) ranks in the 81st percentile nationally. Average school ratings are 2.0 out of 5, placing the neighborhood in the 37th percentile nationally—a consideration for family-oriented tenant retention.
The neighborhood ranks 415th of 1,441 metro neighborhoods for crime (74th percentile nationally), positioning it above the metro median for safety. Property offense rates are estimated at 200 incidents per 100,000 residents annually, ranking in the 56th percentile nationally. Violent offense rates stand at approximately 50 incidents per 100,000 residents (43rd percentile nationally).
Notably, both property and violent offense rates declined sharply year-over-year—property offenses down 84.1% (98th percentile nationally for improvement) and violent offenses down 91.1% (99th percentile nationally). These trends suggest improving conditions relative to prior periods and support a more stable operating environment for multifamily assets. Investors should monitor whether these gains reflect sustained intervention or shorter-term fluctuations.
The property benefits from proximity to major corporate employers in media, telecommunications, insurance, and life sciences, supporting workforce housing demand and commute convenience for professional renters.
- Charter Communications — telecommunications (6.7 miles)
- Radio Disney — media & entertainment (8.7 miles)
- Disney — media & entertainment (9.2 miles) — HQ
- Thermo Fisher Scientific — life sciences (9.3 miles)
- Farmers Insurance Exchange — insurance (9.5 miles) — HQ
This 80-unit property constructed in 2009 offers exposure to a high-occupancy, renter-concentrated neighborhood in the Los Angeles-Long Beach-Glendale metro. Neighborhood-level occupancy of 97.8% ranks in the 88th percentile nationally, and renter-occupied units represent nearly 70% of housing tenure (97th percentile), indicating a deep tenant base and stable absorption dynamics. Median household income has grown 33.4% over five years, and forward projections show continued increases to $100,063 by 2028, alongside contract rent growth to $2,121. Elevated home values and limited ownership accessibility sustain rental demand, while the property's 2009 vintage positions it competitively relative to neighborhood stock averaging 1982.
Commercial real estate analysis from WDSuite highlights strong amenity density (99th percentile for grocery and restaurant access) and improving safety trends, with property and violent offense rates declining sharply year-over-year. Proximity to major employers including Disney, Charter Communications, and Thermo Fisher Scientific supports workforce housing appeal. However, the rent-to-income ratio of 0.31 (5th percentile nationally) signals affordability pressure that may affect tenant retention and require active lease management. Investors should weigh occupancy stability and rent growth against affordability constraints and monitor income trajectory to support continued pricing power.
- Neighborhood occupancy at 97.8% ranks in the 88th percentile nationally, with 70% renter tenure supporting stable multifamily demand
- Median household income projected to reach $100,063 by 2028, with contract rents rising to $2,121, reflecting sustained pricing power
- 2009 construction year offers competitive positioning and reduced near-term capital needs relative to neighborhood average of 1982
- Proximity to Disney, Charter Communications, and other major employers supports workforce housing appeal within a 10-mile radius
- Rent-to-income ratio of 0.31 (5th percentile nationally) requires active lease management and tenant retention strategies to mitigate affordability risk