| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 20th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14805 W Parthenia St, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1974 |
| Units | 32 |
| Transaction Date | 2005-12-16 |
| Transaction Price | $2,850,000 |
| Buyer | SCOTT RAPHAEL WESLEY |
| Seller | KUMAR BIPENDRA |
14805 W Parthenia St, Panorama City Multifamily Investment
Neighborhood occupancy remains high with a large share of renter-occupied units, supporting durable leasing fundamentals, according to WDSuite s CRE market data. For investors, the combination points to steady renter demand in an Urban Core pocket of Los Angeles.
The property sits in an Urban Core neighborhood of Los Angeles that trends “Above metro median” to “Top quartile nationally” for several renter-supportive factors. Neighborhood occupancy ranks in the top quartile among 1,441 metro neighborhoods and is in the 86th percentile nationally, signaling stable lease-up and retention potential. Renter-occupied share is also elevated at the neighborhood level, indicating a deep tenant base for multifamily.
Day-to-day amenities are a relative strength. Amenity access is competitive, with cafes and restaurants scoring in the top quartile nationally and grocery availability also testing above national norms. These patterns typically support leasing velocity and resident satisfaction in comparable Los Angeles submarkets.
Vintage matters for underwriting: built in 1974, the asset is slightly older than the neighborhood s average vintage (late 1970s). Investors should plan for selective capital improvements and consider value-add upgrades to enhance competitive positioning against newer stock, while recognizing that well-executed renovations can help sustain occupancy and pricing power.
Within a 3-mile radius, demographics show households have grown while overall population edged lower, implying smaller household sizes and a continued shift toward multifamily living. Median contract rents have risen over the past five years and are projected to continue growing, which supports revenue potential but also warrants attentive lease management to balance rent growth with retention. Elevated home values relative to incomes at the neighborhood level point to a high-cost ownership market, which tends to sustain renter reliance on multifamily housing.
Relative to national benchmarks, this neighborhood performs in the top quartile for overall safety (higher percentile indicates safer conditions), and it is competitive among Los Angeles neighborhoods based on rank positioning within the metro. According to WDSuite s data, both violent and property offense estimated rates have trended down year over year, which supports neighborhood stability from an investment standpoint.
As always, investors should review trendlines at the submarket level and consider property-level security measures in capital planning; block-level conditions can vary within Urban Core settings.
Proximity to a diverse employment base supports renter demand and commute convenience, including telecommunications, media/entertainment, life sciences, and insurance employers listed below.
- Charter Communications telecommunications (6.7 miles)
- Radio Disney media (8.3 miles)
- Thermo Fisher Scientific life sciences offices (8.7 miles)
- Farmers Insurance Exchange insurance (8.9 miles) HQ
- Disney entertainment (9.0 miles) HQ
This 32-unit asset benefits from a neighborhood with top-quartile occupancy and an unusually high share of renter-occupied housing units, supporting demand depth and leasing stability. Built in 1974, it is modestly older than the area s late-1970s average, creating a straightforward value-add path through interior updates and targeted systems modernization. Elevated ownership costs at the neighborhood level reinforce multifamily reliance, while rising rents and solid amenity access underpin ongoing pricing power, based on CRE market data from WDSuite.
Within a 3-mile radius, households have increased even as population has eased, indicating smaller household sizes and a broader renter pool. Looking ahead, projected rent growth and income gains suggest room for revenue optimization, though investors should balance this with affordability pressure (rent-to-income levels) and below-average school ratings when assessing retention strategies.
- Strong neighborhood occupancy and high renter concentration support consistent leasing
- 1974 vintage offers value-add potential through targeted renovations and capex planning
- Amenity-rich Urban Core location aids lease-up velocity and resident retention
- High-cost ownership market sustains renter reliance and potential pricing power
- Risks: affordability pressure (rent-to-income), below-average schools, and capital needs typical of 1970s assets