| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 29th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14654 Nordhoff St, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 2013 |
| Units | 28 |
| Transaction Date | 2012-05-01 |
| Transaction Price | $775,007 |
| Buyer | 14654 NORDHOFF LLC |
| Seller | THE CENTURY COMMUNITY LENDING COMPANY |
14654 Nordhoff St Panorama City Multifamily Opportunity
2013 construction positions this asset newer than much of the local stock, while the surrounding neighborhood’s high occupancy suggests steady renter demand, according to WDSuite’s CRE market data. The thesis centers on durable tenancy in an Urban Core pocket with strong everyday conveniences.
The property sits within an Urban Core neighborhood that is competitive among Los Angeles-Long Beach-Glendale, CA neighborhoods (568 of 1,441), with local occupancy measuring in the top quartile nationally. That backdrop supports lease stability for multifamily operators targeting workforce and move-up renters rather than lease-up risk.
Access to daily needs is a local strength: the neighborhood ranks near the top nationally for restaurants and grocery store density, and pharmacies are also comparatively abundant. Park access is limited, which is a livability tradeoff investors should account for in positioning and resident experience strategies.
The share of housing units that are renter-occupied is high, indicating a deep tenant base that can support absorption and renewals. Median home values and the value-to-income ratio are elevated for the area, reinforcing renter reliance on multifamily housing and supporting pricing power, while the neighborhood rent-to-income ratio implies some affordability pressure that warrants attentive lease management.
Within a 3-mile radius, recent trends show modest population contraction alongside an increase in households and smaller average household sizes. This combination typically expands the renter pool over time and can support occupancy stability. Forward-looking WDSuite data indicates continued income gains and rent growth at the neighborhood level, which underpins long-term demand but calls for calibrated renewal strategies to balance retention.
School ratings in the neighborhood are below national averages; investors focused on family-oriented product should underwrite accordingly. On vintage, the submarket’s average construction year is older than this property, so 2013 delivery provides a relative competitive edge versus legacy stock, while standard lifecycle capex for building systems should still be planned.
Neighborhood safety benchmarks are comparatively favorable in a national context, with crime levels placing roughly in the top quartile of neighborhoods nationwide. Recent WDSuite indicators show year-over-year declines in both property and violent offenses, a constructive trend that can support renter retention and leasing velocity.
As with any Urban Core location in a large metro, conditions vary by block and time of day. Investors should consider standard operating practices—lighting, access control, and resident engagement—to sustain the positive trendline and align with resident expectations.
Proximity to a diverse employment base supports renter demand and commute convenience, including telecommunications, media, life sciences, entertainment, and insurance employers noted below.
- Charter Communications — telecommunications (6.6 miles)
- Radio Disney — media (8.5 miles)
- Thermo Fisher Scientific — life sciences (9.0 miles)
- Disney — entertainment (9.1 miles) — HQ
- Farmers Insurance Exchange — insurance (9.3 miles) — HQ
This 2013, 28-unit asset competes favorably against an older neighborhood baseline, helping mitigate near-term capex while offering potential for select upgrades to drive rent positioning. High neighborhood occupancy and a substantial share of renter-occupied housing units signal a durable tenant base. Elevated ownership costs in the area further sustain reliance on multifamily, supporting pricing power when paired with active renewal management.
Within a 3-mile radius, households have increased with smaller average household sizes, pointing to renter pool expansion despite modest population decline. According to CRE market data from WDSuite, neighborhood rent levels and incomes have trended upward and are projected to continue, which supports occupancy stability and NOI resilience; however, investors should plan for affordability-sensitive renewal strategies and resident experience improvements given limited park access and below-average school ratings.
- Newer 2013 vintage versus local stock, offering competitive positioning and selective value-add upside
- High neighborhood occupancy and deep renter-occupied housing base support leasing stability
- Elevated ownership costs reinforce multifamily demand and retention potential
- Household growth and smaller household sizes within 3 miles expand the tenant base over time
- Risks: affordability pressure (rent-to-income), limited park access, and below-average school ratings