| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 41st | Fair |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7833 Ventura Canyon Ave, Panorama City, CA, 91402, US |
| Region / Metro | Panorama City |
| Year of Construction | 1986 |
| Units | 62 |
| Transaction Date | 1996-06-27 |
| Transaction Price | $1,274,545 |
| Buyer | CANYON CREST PARTNERS LLC |
| Seller | MARCIL GERALD L |
7833 Ventura Canyon Ave Panorama City Multifamily Investment
This 62-unit property operates in a neighborhood with 94.6% occupancy rates and strong renter demand, supported by 72% rental tenure share according to WDSuite's CRE market data.
Panorama City presents a mature rental market with neighborhood-level occupancy at 94.6%, reflecting stable tenant retention in this urban core environment. The area ranks in the top quartile nationally for amenities, with 9.3 grocery stores per square mile and robust dining options supporting tenant convenience and retention.
Built in 1986, this property aligns with the neighborhood's average construction year of 1976, indicating potential value-add opportunities through targeted renovations and unit improvements. Demographic data within a 3-mile radius shows 62.7% of housing units are renter-occupied, creating a substantial tenant pool of over 59,000 renter households.
Median contract rents of $1,519 in the neighborhood have increased 35.7% over five years, while household incomes grew 15.4% during the same period. This rent-to-income dynamic warrants careful lease management and renewal strategies, though the high rental tenure share suggests continued multifamily demand as elevated home values of $829,016 reinforce rental housing reliance.
Forward-looking demographics project household growth of 28.9% through 2028, with median household income expected to reach $92,806, supporting rental demand expansion and potential for measured rent growth aligned with income improvements.
Property crime trends show significant improvement, with rates declining 82.7% year-over-year, ranking in the 98th percentile nationally for crime reduction. The neighborhood's overall crime metrics place it in the 76th percentile nationally among comparable areas.
Violent crime rates also decreased substantially by 93.4% year-over-year, positioning the area in the 99th percentile nationally for violent crime reduction. These improving safety trends support tenant retention and can enhance the property's competitive positioning within the submarket.
The surrounding employment base includes major corporate offices within commuting distance, supporting workforce housing demand for the property's tenant profile.
- Charter Communications — telecommunications (4.9 miles)
- Radio Disney — media and entertainment (6.5 miles)
- Disney — entertainment and media (7.1 miles) — HQ
- Live Nation Entertainment — entertainment services (9.1 miles)
- Thermo Fisher Scientific — life sciences (9.8 miles)
This 62-unit property in Panorama City operates within a stable rental market characterized by 94.6% neighborhood occupancy and 72% rental tenure share. The 1986 construction year presents value-add opportunities through strategic renovations, while the area's top-quartile amenity density supports tenant retention. According to commercial real estate analysis from WDSuite, projected household growth of 28.9% through 2028 indicates expanding rental demand.
The investment case centers on occupancy stability in a mature rental market with improving safety metrics and substantial projected demographic growth. However, investors should monitor rent-to-income pressures and plan capital improvements appropriate for the property's vintage.
- Stable occupancy environment with 94.6% neighborhood rates and high rental tenure
- Value-add potential through renovations aligned with 1986 construction year
- Projected 28.9% household growth supporting rental demand expansion through 2028
- Top-quartile amenity density enhances tenant retention and competitive positioning
- Risk consideration: Monitor rent-to-income ratios and renewal strategies in current market