| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14619 Gledhill St, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1991 |
| Units | 21 |
| Transaction Date | 1999-05-04 |
| Transaction Price | $935,000 |
| Buyer | WALLMAN BARRY |
| Seller | BRESLIN JOHN Q |
14619 Gledhill St: 21-Unit Panorama City Multifamily
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data, with this 1991 asset positioned for operational stability within Los Angeles’ Urban Core.
Panorama City’s Urban Core setting supports renter demand through convenience and density. Neighborhood occupancy is high relative to national benchmarks, and the area shows an above-metro-median standing among 1,441 Los Angeles-Long Beach-Glendale neighborhoods. Note that these are neighborhood-level occupancy dynamics, not property-specific performance.
The renter-occupied share is substantial at the neighborhood level, indicating a deep tenant base for multifamily leasing and renewals. In a 3-mile radius, households have been increasing even as total population trends slightly lower, suggesting smaller average household sizes and a broader renter pool over the medium term. This combination typically supports occupancy stability and steady leasing activity for well-managed assets.
Daily-needs access is a core strength: grocery and dining density ranks in the top tier nationally, with pharmacies and cafes also well represented. These amenity concentrations reinforce location stickiness for renters and can enhance retention through convenience. Average school ratings trend below national medians, which merits underwriting caution for family-oriented tenant profiles but may be less determinative for workforce and young-adult segments.
Home values in the neighborhood sit in an elevated range versus national norms, and value-to-income ratios are high, indicating a high-cost ownership market. That context generally sustains reliance on rental housing and can support pricing power, though lease management should account for rent-to-income pressures to maintain retention.
The subject property’s 1991 vintage is newer than the area’s average housing stock (1980s). For investors, that positioning can reduce near-term structural capex versus older comparables while still leaving room for targeted modernization to compete effectively against more recent deliveries.
Relative to the Los Angeles-Long Beach-Glendale metro, the neighborhood’s crime profile is competitive among 1,441 neighborhoods and trends safer than the national median. Recent data also indicates notable year-over-year improvements in both property and violent offense rates, placing the area among the stronger improvers nationally. These are neighborhood-level indicators and may evolve with broader metro trends.
Investors should monitor local trendlines rather than block-level snapshots; sustained improvement supports renter confidence and retention, while any reversal could pressure leasing velocity and premiums.
Proximity to a diversified base of corporate offices underpins commuter demand and supports leasing stability, including roles in media/entertainment, insurance, and life sciences from Charter Communications, Radio Disney, Thermo Fisher Scientific, Disney, and Farmers Insurance Exchange.
- Charter Communications — corporate offices (6.8 miles)
- Radio Disney — corporate offices (8.8 miles)
- Thermo Fisher Scientific — corporate offices (9.3 miles)
- Disney — corporate offices (9.3 miles) — HQ
- Farmers Insurance Exchange — corporate offices (9.5 miles) — HQ
This 21-unit property built in 1991 benefits from neighborhood occupancy that sits above national norms and a strong renter-occupied share, according to CRE market data from WDSuite. The Urban Core location offers dense retail and service access, and high ownership costs in the area tend to sustain reliance on rentals—supporting tenant retention and pricing power when paired with disciplined lease management.
Demographic patterns within a 3-mile radius show households expanding even as overall population edges down, pointing to smaller household sizes and a larger renter pool over time. Given its slightly newer-than-average vintage for the area, the asset may achieve competitive positioning with selective interior and systems upgrades, while investors should underwrite rent-to-income affordability and school-quality sensitivity for family-driven demand.
- High neighborhood occupancy and deep renter-occupied base support leasing stability
- Dense amenities and employment access enhance retention and reduce turnover friction
- 1991 vintage offers value-add potential through targeted modernization versus older stock
- Elevated ownership costs in the area reinforce sustained rental demand
- Risks: below-median school ratings and affordability pressure may affect renewal decisions